The choice of decision framework used to set regulatory tolerance levels for hazardous substances can be divided into rigid and flexible tolerance levels. Rigid decision frameworks include zero or deminimis that fix risk levels for some subpopulation. and/or highly tolerances The accelerating...

Empirical studies of firm diversification suggest the existence of a positive relationship between the relatedness of diversification and firm performance. Using evidence from the food manufacturing sector, we find that this relationship is weak at best and that market share appears to be a more...

Federal ism disputes arising from state regulations, particularly those pursuing health, safety, and environmental goals, are a common feature of the U.S . political system. Discussion of bases for settling such disputes often focuses on the in- and out-state incidence of benefits and costs but...

A growing body of empirical studies have been interpreted as support for a laissez-faire policy towards mergers. These "event studies" examine the reaction of stock market prices of firms that announce an agreement to merge. The type ~f reaction reveals whether a merger is motivated by a desire...

This paper extends the conjectural approach in industrial organization to the analysis of imperfections in output and factor markets simultaneously. Starting from the specification of a production function, the econometric analysis is based on the formulation and estimation of a simultaneous...

Nonmarket goods include quality aspects of market goods and public goods which may be substitutes or complements for private goods. Traditional methods of measuring benefits of exogenous changes in nonmarket goods are based on Marshallian demand: change in spending on market goods or change in...

Consumers' willingness to pay for cowpea products was analyzed by a multi-ordered response model. The analysis indicated that socio-demographic factors are weakly linked to consumers' willingness to pay while product characteristics are strongly linked. Marketing promotion is possible. Thus,...