increase welfare if they reduce input prices. The lower input price shifts some input production from cost- inefficient … upstream firms to cost-efficient ones. Also, the lower input price makes upstream entry less attractive, reduces the number of …

on a hospital in a rural community where the frequency of utilisation of expensive equipment is possible low, and where … patients may incur transfer costs. Considering both, a rural and an urban hospital, I identify the first-best investment level … of a rural hospital and compare it with the investment levels arising from two payment systems: The Fee-for-service (FFS …

We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … the period the merger is proposed. We also find that the abil- ity to commit can lead to a significant welfare improvement …

quantity during estimation. Only a limited number of contributions to the literature estimate uncertainty and its macroeconomic …