This paper analyzes single-till and dual-till regulations in terms of social welfare. We clarify two conditions to determine which regulation yields a higher welfare. The first condition is whether the solutions under welfare maximization yield positive or negative regulatory profits. The second...

This paper explores the effect of airline emissions charges on airfares, airline service quality, aircraft design features, and network structure, using a detailed and realistic theoretical model of competing duopoly airlines. These impacts are derived by analyzing the effects of an increase in...

This study measures the market power of China's national railway operator and analyzes its contributing and determining factors. A newly-developed stochastic frontier method is used to estimate the Lerner indexes of the operator's 18 regional railway bureaus from 1995-2014. A regression is then...