This study compares the statistical precision of simple random sampling with balanced ranked set sampling in an inventory valuation scenario. Computer simulation is used to calculate standard errors for the ranked set sampling mean, and those standard errors are then compared to the...

In a model of vertical product differentiation we study the impact of liberalization on the choice of the product quality of a local monopolist. We show that under liberalization as one foreign firm enters with a superior quality, the local firm will reduce its quality level unless the foreign...