This paper seeks to investigate the interaction between favoritism and allocative efficiency. The issue of whether corruption distorts allocative efficiency in a bribery game under a pre-existing environment of alleged favoritism is considered. It is demonstrated that if there is no unambiguous...

Stocks of Australian wine, at an industry level, have considerably exceeded sales for many years. However, all varieties and regions are not the culprits of this oversupply. The mismatching of supply and demand can be attributed to a lack of adequate market information, particularly at the...

A plethora of approaches to modeling market power has been reported in the literature. These can be broadly divided into one-side and two-side behavioral models. This paper uses versions of these models to develop a theoretical framework to test market power in the output and input markets in...

The controversy on the convergence of socialism and capitalism has recently been focused on China. In this paper, an industrial organisation framework is used to portray the key features of "Socialism with Chinese Characteristics." The structure of supply and demand and the process of price...

With the removal of significant government intervention, the changing structure of the Chinese food markets has led to the evolution of different types of markets, and particularly the growth of wholesale markets. This paper analyses food consumption patterns for the largest wholesale food...

Analysis of changes in the industrial composition of economic activity (structural change) is important for informed policy making. Such analysis can best be undertaken using a computable general equilibrium (CGE) model. CGE models recognize links among industries arising from their roles as...