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The Allocative Cost of Price Ceilings: Lessons to be Learned from the US Residential Market for Natural Gas

Davis, Lucas W; Kilian, Lutz - C.E.P.R. Discussion Papers - 2007

Following a Supreme Court decision in 1954, natural gas markets in the U.S. were subject to 35 years of intensive federal regulation. Several studies have measured the deadweight loss from the price ceilings that were imposed during this period. This paper concentrates on an additional component...

Persistent link: https://www.econbiz.de/10005791833

Doctors without Borders: The Returns to an Occupational License for Soviet Immigrant Physicians in Israel

Kugler, Adriana D.; Sauer, Robert M - C.E.P.R. Discussion Papers - 2003

Re-licensing requirements for professionals that move across borders are widespread. In this Paper, we measure the returns to an occupational license using novel data on Soviet trained physicians that immigrated to Israel. An immigrant re-training assignment rule used by the Israel Ministry of...

Persistent link: https://www.econbiz.de/10005136637

Why every Economist should Learn some Auction Theory

Klemperer, Paul - C.E.P.R. Discussion Papers - 2000

economic settings that do not, at first sight, look like auctions. We also discuss some more obvious applications, especially …

Persistent link: https://www.econbiz.de/10005792157

Auctions vs Negotiations in Public Procurement: Which Works Better?

Lalive, Rafael; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2011

Public agencies rely on two key modes to procure goods and services: auctions and direct negotiations. The relative … passenger railway services in Germany, where regional agencies can use auctions and negotiations to procure regional passenger … auctions. This analysis suggests accounting for the endogeneity of the choice of procurement mode by estimating the mode of …

Persistent link: https://www.econbiz.de/10009275960

Legal vs Ownership Unbundling in Network Industries

Cremer, Helmuth; Crémer, Jacques; De Donder, Philippe - C.E.P.R. Discussion Papers - 2006

This paper studies the impact of legal unbundling vs ownership unbundling on the incentives of a network operator to invest and maintain its assets. We consider an industry where the upstream firm first chooses the size of a network, while several downstream firms then compete in selling goods...

Persistent link: https://www.econbiz.de/10005136450

An Equilibrium Theory of Rationing

Gilbert, Richard; Klemperer, Paul - C.E.P.R. Discussion Papers - 1993

Setting a price that results in rationing may be optimal for a seller whose customers must make a specific investment to be able to use his product. Although rationing results in <MI>ex post<D> inefficiency, the resulting distribution of <MI>ex post<D> surplus compensates consumers for their...</d></mi></d></mi>

Persistent link: https://www.econbiz.de/10005788950

Responsive Pricing

Courty, Pascal; Pagliero, Mario - C.E.P.R. Discussion Papers - 2003

We study the efficiency property of responsive pricing - a scheme first proposed by Vickrey - that increases prices as a function of capacity utilization. We show that although responsive pricing implements allocations that are arbitrarily close to market clearing, these allocations are not...

Persistent link: https://www.econbiz.de/10005791922

The European UMTS/IMT-2000 Licence Auctions

Jehiel, Philippe; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2001

according to the UMTS/IMT-2000 family of standards. We survey the recent European UMTS licence auctions and compare their …

Persistent link: https://www.econbiz.de/10005792176

To Merge or to License: Implications for Competition Policy

Faulí-Oller, Ramon; Sandonís, Joel - C.E.P.R. Discussion Papers - 2001

The optimal competition policy when licensing is an alternative to a merger, which has the intention of transferring a superior technology, and is derived in a differentiated goods duopoly, as in the cases of Cournot and Bertrand competition. We show that whenever both royalties and fixed fees...

Persistent link: https://www.econbiz.de/10005792457

Price Controls and Consumer Surplus

Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 2009

The condition for when a price control increases consumer welfare in perfect competition is tighter than often realised. When demand is linear, a small restriction on price only increases consumer surplus if the elasticity of demand exceeds the elasticity of supply; with log-linear or...

Persistent link: https://www.econbiz.de/10004976788