In the presence of demand uncertainty, a priori identical firms may voluntarily choose asynchronous timing of entries. We formulate a duopoly model where two firms compete during many marketing periods. To enter the market, each firm is required to make a long-term supply contract with...

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...

Time of day (TOD) rates are a commonly used method for peak load pricing of many services. Such services as ; electricity, communications, transportation, shared computer facilities, and computer networks (ie. the Internet), either use, or will use form of TOD pricing. The model presented here...

The paper functionally describes the income velocity of money by including the cost of a key substitute to money: exchange credit. Financial innovation causes the cost of credit to fall, the quantity of money demanded to fall, and the velocity to rise, all without shifting the money demand function.

This paper shows an endogenous Stackelberg leader-follower relation that stems purely from commitment, not from chronological order of entry. We consider a symmetric duopoly game with a priori demand uncertainty which resolves after a short term. In the beginning, each supplier is allowed to...

This paper examines the consumption of water by households that are individually metered (single-metered households) and those sharing a water meter (group-metered households).