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Efficiency Advantages of Grandfathering in Rights-Based Fisheries Management

Anderson, Terry L. - 2010

We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not...

Persistent link: https://www.econbiz.de/10012462138

The Valuation of Fisheries Rights : A Real Options Approach

Pizarro, Jose - 2018

Fisheries. The model includes two sources of uncertainty: the resource biomass and the price of fish, and it can be used by … fisheries to optimally adapt their harvesting strategy to changing conditions in these stochastic variables. The model also … features realistic operational cash flows and fisheries can shutdown and reopen operations. Using publicly available data on …

Persistent link: https://www.econbiz.de/10012480792

Non-Parametric Demand Analysis with an Application to the Demand for Fish

Angrist, Joshua D. - 1995

Instrumental variables (IV) estimation of a demand equation using time series data is shown to produce a weighted average derivative of heterogeneous potential demand functions. This result adapts recent work on the causal interpretation of two-stage least squares estimates to the simultaneous...

Persistent link: https://www.econbiz.de/10012473812

The Industrial Revolution in Services

Hsieh, Chang-Tai - 2019

The rise in national industry concentration in the US between 1977 and 2013 is driven by a new industrial revolution in three broad non-traded sectors: services, retail, and wholesale. Sectors where national concentration is rising have increased their share of employment, and the expansion is...

Persistent link: https://www.econbiz.de/10012479917

Wholesalers and Retailers in U.S. Trade (Long Version)

Bernard, Andrew B. - 2010

We combine data on individual trade transactions from U.S. customs records with comprehensive information on firms' employment from the Census Bureau's business register to examine wholesalers and retailers in U.S. exports and imports. Exporters and importers with 100 percent employment in...

Persistent link: https://www.econbiz.de/10012462991

Pass-Through in Retail and Wholesale

Nakamura, Emi - 2008

This paper studies how prices comove across products, firms and locations to gauge the relative importance of retailer versus manufacturer-level shocks in determining prices. I make use of a large panel data set on prices for a cross-section of retailers in the U.S. I analyze prices at the...

Persistent link: https://www.econbiz.de/10012464684

Wealth Transfers from Implementing Real-Time Retail Electricity Pricing

Borenstein, Severin - 2005

Adoption of real-time electricity pricing -- retail prices that vary hourly to reflect changing wholesale prices -- removes existing cross-subsidies to those customers that consume disproportionately more when wholesale prices are highest. If their losses are substantial, these customers are...

Persistent link: https://www.econbiz.de/10012467083

Biases in Static Oligopoly Models? Evidence from the California Electricity Market

Kim, Dae-Wook - 2004

Estimating market power is often complicated by the lack of reliable measures of marginal cost. Instead, policy-makers often rely on other summary statistics of the market, thought to be correlated with price cost margins---such as concentration ratios or the HHI. In many industries, these...

Persistent link: https://www.econbiz.de/10012467792

Why Are Prices Sticky? The Dynamics of Wholesale Gasoline Prices

Davis, Michael C. - 2003

The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that this prediction is broadly consistent with the...

Persistent link: https://www.econbiz.de/10012468957

Regulation, Distribution Efficiency, and Retail Density

Flath, David - 2003

After outlining characteristics of Japan's distribution sector, a comprehensive international comparison of it to those of other nations is presented and analyzed for underlying differences. This leads to an explanation of Japan's retail store density, which is then related to the structure of...

Persistent link: https://www.econbiz.de/10012469253