This paper investigates the endogenous choice between price- and quantity-setting behaviour in a duopoly game where firms invest in product development first, and then play a marketing game later. Only in the initial R&D stage, the two firms set up a joint venture in order to share the costs of...

Measuring the costs of children is of immense practical importance in a range of economic and social policy areas. In this paper, we introduce a new econometric procedure that improves on existing methods for obtaining estimates of such costs from a demand system. We develop, using an extended...

Privatisation has become a common governement policy in many countries. This paper summarizes the salient features of privatisations by public share float in Australia during the period 1989 to 1997. The costs associated with these privatisations is examined, including both direct costs and the...

In an ongoing organization, such as a large law parternship firm, employees are motivated not only by current rewards but also by the prospect of promotion, and the opportunity to influence policy and make the rules in the future. This leads to a dynamic programming problem in contract design....

We explore hold-up when trading parties can make specific investments simultaneously or sequentially. With simultaneous investment both investors are held-up. With sequential investment contracting becomes possible after the project has commenced, so the second investor avoids being held-up. If...

An important characteristic of E-commerce is that it is a form of technological change. The effects of E-commerce induced reductions in business production costs and on seller to buyer transaction costs are assessed. Comparative static models for different market structures are used to assess...

This study examines different types of Travel Cost Models to estimate and compare the recreational values of two parks in Victoria, Australia: Maroondah Reservoir and Albert Park. Zonal Travel Cost models and a number of different functional forms are used in this study. Standard errors are used...