In this paper, we specify and estimate a structural model, which links product market competition and union power. The model has a two-stage setting, in which wages are determined through bargaining between management and unions in the first stage, with a price-setting market game to follow in...

This paper examines the asymptotic (in)efficiency of Stackelberg markets with incomplete information. Firms who are early in the queue make their quantity choices based on limited information and their output choices are likely to deviate from those optimal under complete information. Due to the...

This paper evaluates the effects of liberalizing access to the space sector, as currently envisaged by the EC Commission. We undertake an econometric evaluation of the degree of scale economies in satellite operations and calibrate a Cournot model of competition in which the effect of...

The deregulation of the telecommunications industry has resulted in a variety of industry structures which have been created in the hope of increasing competition. One example is the licensing of cellular telephone services in the United States. In the face of scarce radio spectrum, the Federal...

In this paper we specify and estimate a structural model of competition for the European airline industry to assess the potential for price reductions if competition increases. The model has two distinguishing features: First, we allow for firms to make short- and long-run decisions by...

We analyze the effects of one or more downstream firms’ acquisition of pure cash flow rights in an efficient upstream supplier when firms compete in prices in both markets. With such an acquisition, downstream firms internalize the effects of their actions on that supplier’s and thus, their...

[eng] A growing share of inward investment inro me European Union, including but not limited to sovereign wealth funds (SWFs), will come from countries with diverse political regimes with which Europeans may not always see eye-to-eye. The current crisis may increase both Europe's need for such...

[eng] A European Approach to Sovereign Investment . A growing share of inward investment into me European Union, including but not limited to sovereign wealth funds (SWFs), will come from countries with diverse political regimes with which Europeans may not always see eye-to-eye. The current...

In this paper we carry out technical efficiency and productivity growth comparisons among the four largest European carriers and eight of their American counterparts. The time period of our comparisons is 1976 through 1986. This is a particularly interesting period since it begins just after the...