Regulation of the cable television industry was marked by remarkable periods of deregulation, re-regulation, and re-deregulation during the 1980s and 1990s. Using FCC firm-level survey data spanning 1993 to 2001, we model and econometrically estimate the effect of regulation and competition on...

This study provides empirical evidence concerning the economic feasibility of competition in the local market for video-delivery services. Using responses from the FCC's 1995 cost survey, we jointly estimate a translog cost function with factor share equations. To evaluate subadditivity, the...

A persistent anomaly in option pricing is the volatility skew. Many have attempted to explain it with stochastic volatility and/or jump diffusion models with mixed results. We propose a model that incorporates positive serial correlation in the stock price process and test it on empirical data...

We attempt to overcome the serious data problems of past telecommunications cost studies by focusing on local exchange carriers (LECs). With enough degrees of freedom to yield precise estimates, our global subadditivity tests show that the cost function is definitely not subadditive. The results...

Regulation of the cable television industry was marked by remarkable periods of deregulation, re-regulation, and re-deregulation during the 1980s and 1990s. Using FCC firm-level survey data spanning 1993 to 2001, we model and econometrically estimate the effect of regulation and competition on...

The objective of this paper is to determine the price sensitivity of smokers in their consumption of cigarettes, using evidence from a major increase in California cigarette prices due to Proposition 10 and the Tobacco Settlement. <P>The study sample consists of individual survey data from...</p>

This paper presents a rational addiction model, which integrates the addictive behavior of smokers toward cigarette consumption and the dynamic, profit-maximizing behavior of an oligopoly of cigarette producers. This model is tested on a panel data for eleven western states over the period of...

There is a potential bias in cross-sectional estimates of the effects of cigarette prices on cigarette consumption. States with the strongest antismoking sentiment will likely have the highest cigarette taxes, which result in the highest prices. Some of the lower consumption of cigarettes in...