Exports of agricultural commodities to developed countries play a significant role in the economies of many developing countries.  The elimination of import tariffs has the potential to benefit producers in the developing countries, but estimates of the extent of the gains from trade...

 

The services of residential real estate brokers are normally priced at a fixed percentage of the selling price of the house. Since the direct cost of selling a house is virtually unrelated to house value, this custom is an example of value-of-service pricing-a practice often regarded as prima...

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This article proposes an oligopsony pricing model for projecting the effects of increased concentration or oligopsonistic coordination in beef packing using simulation methods. The model combines an explicit behavioral theory of packing firms with an attempt to respect the regional scope of...

Abstract Currently Unavailable.

Although cigarette manufacturers were aware of the addictive properties of nicotine as early as 1962, the information did not become available to the U.S. public until 1979 when the Surgeon General disclosed it. This study simulates the impact that this information would have had on the demand...

We conduct cusum tests of structural change in a rational addiction model of cigarette demand estimated using a panel of annual time series of state-level data. In contrast to the one previous application of cusum tests to the question of cigarette demand stability, our results provide strong...

Econometric methods for assessing the degree of market power typically rely on a maintained hypothesis of price-taking behavior on one side of the market or the other. In the analysis of bilateral oligopoly, however, one would like to leave open the question of whether buyers or sellers (or...