The residential demand for natural gas is the subject of two recent articles in this journal.' Each used pooled time-series/cross-section data to estimate price and income elasticities as well as other relationships that determine the quantity of natural gas consumed by individual households or...

Competition is not a natural state. Under it, firms become dissatisfied with performance and work to change the structure. What they seek is a structure that supports sufficient discipline to assure individual actions consistent with common interests. Often, the changes have been effected before...