It is often thought that a tariff reduction, by opening up the domestic market to foreign firms, should lessen the need for a policy aimed at discouraging domestic mergers. This implicitly assumes that the tariff in question is sufficently high to prevent foreign firms from selling in the...

Static oligopoly analysis predicts that if a single firm in Cournot equilibrium were to be constrained to contract its production marginally, its profits would fall. On the other hand, if all the firms were simultaneously constrained to reduce their productino, thus moving the industry towards...

Consider a general equilibrium framework where the marginal cost of extraction from several deposits of an exhaustible resource is constant in terms of an inexhaustible perfect substitute and differs between deposits. The instantaneous rate of production form the inexhaustible resource is...

This paper generalizes Hotelling's (1931) theory of nonrenewable resources to situations where resource pools and their users are distributed spacially. Extraction and transport costs are assumed to be linear in the rate of extraction, but utilization of each deposit may require a setup cost.

Consider a general equilibrium framework where the marginal cost of extraction from several deposits of an exhaustible resource is constant in terms of an inexhaustible perfect substitiute and differs between deposits. The instantaneous rate of productionfrom the inexhaustible resourcce is...