The present study develops an equilibrium displacement model (EDM) to evaluate the impacts of a free trade agreement (FTA) on the profits of individual farmers. The parameters representing the share of profit within revenue and the elasticity of cost with respect to quantity in the cost function...

Subsidies are considered important means to facilitate the provision of public transit, yet the empirical evidence implies that they can have harming effects on costs and possibly also on operators' performance. This paper examines the impacts of deficit-balancing subsidies on the cost...