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Format changes are used by radio stations to reposition themselves in an attempt to improve performance. Evidence reported below indicates that the track record of such repositionings in improving performance improvements only when the shift is made to a trendy format.
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This study of the wholesale electricity market compares the efficiency performance of the auction mechanism currently … of the current auction with respect to efficiency is not that obvious. We present a case where the proposed auction … outperforms the current mechanism on efficiency even if all offers reflect true production costs. We also find that a market …
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allocative efficiency more quickly. …
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Governments can tax productive activities with either uniform or discriminatory rates among taxpayers. Although discriminatory rates can cause productive inefficiency and require high cost of administration, they can be preferred because of their advantage in distributional flexibility. This...
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. Efficiency concerns about this proposal have relied on the assumption of true production cost revelation. Using an experimental … two auctions perform similarly in terms of procurement cost and efficiency. Surprisingly, I do not find a substantial …
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to ensure efficiency. …
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Holmstrom (1982) considered a group of agents who jointly produce some output and showed that if the agents are required to balance the budget then the first best, or Pareto efficient, allocation cannot be obtained as an equilbrium relative to any sharing rule. Recent research on risk-neutral...
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