Economies of Scale in International Liner Shipping and OngoingIndustry Consolidation: An Application of Stigler'sSurvivorship PrincipleKaren V. Gregory(ABSTRACT)The international liner shipping industry has been undergoing major structural changes caused by a number of factors. Liner companies...

We introduce a spatial cost topology in thenetwork formation model analyzed by Jackson andWolinsky, Journal of Economic Theory 71 (1996), 44--74. This cost topology mightrepresent geographical, social, or individualdifferences. It describes variable costs ofestablishing social network...

Chapter 1 introduces some of the issues which are addressed in the other chapters of this dissertation. These topics include: (1) the general equilibrium incentives in the provision of public education, (2) human capital production functions in economic modeling, (3) how public education...

(Abstract)This paper uses a multi-factor Arbitrage Pricing model to measure the systematic risks of U.S. Foreign Direct Investments (FDI) in the largest emerging markets of Latin America: Argentina, Brazil, Chile, and Mexico. The Arbitrage Pricing Theory (APT) states that returns on investments...

In general, an individual commands a salary in return for their contribution to the production process at their place of employment. In the case of a quarterback for a National Football League team, the salary he commands depends on how much the team's owner expects him to contribute to the team...

Cigarette taxation is a topic which economists have focused on for years. Thepurpose of the cigarette tax is to force individuals who engage in risky activities to payfor the negative externalities caused by said activities. In the case of cigarette smoking,the notion has been that society as a...

Physicians often continue toprescribe brand-name drugs to theirpatients even when less expensivegeneric equivalents are available. Ina 1994 study, Judith Hellersteinadvances two hypotheses to explainthis behavior. First, doctors mayconsciously conclude that certainbrand-name drugs impart a...

In 1991, the FederalCommunications Commission beganregulating the tariffed rates of thenations largest local exchangecarriers under a new regulatoryscheme: price-cap regulation. Pricecaps were intended to "remedy" theills of traditional rate-of-returnregulation. They were to provideincentive for...

Chapter 2 deals with a linear city model à la Hotelling where the two firms share linear transport costs with their customers. Mill pricing and uniform delivery pricing are special limiting cases. We characterize the conditions for the existence of a pure strategy equilibrium in the two-stage...

The use of contingent valuation (CV) methods to estimate benefits has become increasingly common in project analysis. Ever since the NOAA Blue Ribbon Panel Report in 1993 (NOAA, 1993) recommended theuse of the referendum form of CV, it seems to have become the method of choice in practical...