This paper looks at the impact on Australia’s trade in crops (non-wheat grains and oilseeds) where GM technology has been introduced. The model includes assumptions about the productivity gains of GM crops, possible consumer responses and regulatory costs for Australia and its major trading...

The Milwaukee voucher program, as implemented in 1990, allowed only non- sectarian private schools to participate in the program. Following a Wisconsin Supreme Court ruling, the program saw a major shift and entered into its second phase, when religious private schools were allowed to...

This paper considers a situation of two sellers of perfectly substitutable items competing in publicly announced reserve prices to induce potential bidders participation at their auction. After learning their own valuations and upon observing the reserve prices, potential bidders make a...

In January 2003, the Government asked the Commission to undertake a study into the Mutual Recognition Agreement (MRA) and Trans-Tasm an Mutual Recognition Arrangement (TTMRA).

We analyze competitive pressures in a sequence of auctions with a growing number of bidders, in a model that includes private and common valuations as special cases. We show that the key determinant of bidders' surplus (and implicitly auction revenue) is how the goods are distributed. In any...