This paper considers assumptions on consumer heterogeneity that can generate bidirectional distortion in a model of quality discrimination. It is shown that the profit-maximizing strategy can involve the simultaneous degradation of quality at the low end of the spectrum, while quality...

If labor is able to capture a portion of the economic rents in profitable industries, industry profitability and the relation between market structure and profitability may both be mismeasured. This paper estimates a simultaneous equation system in which both the price-cost margin and...

We use agent-based models to consider rent ceilings in non-Walrasian housing markets, where bargaining between landlord and tenant leads to exchange at a range of prices. In the non-Walrasian setting agents who would be extramarginal in the Walrasian setting frequently are successful in renting,...

The United States'experience with antitrust and with directive regulation in the rail, trucking, airline, and telephone sectors offers useful lessons for developing countries. The experience highlights the realities both of market failure and of the difficulties of implementing regulation to...

Many developing countries are considering the privatization of public enterprise natural monopolies. Such as monopolies in charge of electricity, natural gas, waterand sewer, and telephone service. The author tries to answer two questions: (i) how great would the efficiency losses be, if any, if...

We use agent-based models to consider rent ceilings in non-Walrasian housing markets, where bargaining between landlord and tenant leads to exchange at a range of prices. In the non-Walrasian setting agents who would be extramarginal in the Walrasian setting frequently are successful in renting,...

La presente etude porte sur les avantages qu'un pays qui conclut un accord commercial regional, particulierement un petit pays, peut s'attendre a tirer de l'exploitation d'economies d'echelle. Notre etude porte sur l'experience du Canada lors de son adhesion a l'Accord de libre echange entre le...