The existing tax policies towards gasoline and diesel cars in the European countries provide a unique opportunity to analyze intertemporal investment aspects in consumer behavior and quality-based price discrimination aspects in manufacturer pricing behavior. We develop an econometric framework...

Eight states established deposit insurance systems between 1908 and 1917. All abandoned the systems between 1921 and 1930. Scholars debate the costs and benefits of these policy experiments. New data drawn from the archives of the Federal Reserve Board of Governors demonstrate that deposit...

Conflicting theories of the nonprofit firm have existed for several decades yet empirical research has not resolved these debates, partly because the theories are not easily testable but also because empirical research generally considers organizations in isolation rather than in markets. Here...

Efforts to strengthen the global patent system for pharmaceuticals continue to be controversial, and what will likely be a similarly fraught international debate over price controls has begun. The outcome of international negotiations and the resulting policy decisions made by each country will...

This paper provides a systematic analysis of the welfare effects of vertical integration by a monopolistic input supplier into a monopolistically competitive downstream industry. We give sufficient conditions on consumer preferences that lead to Pareto improving vertical integration. We...

In several interesting markets, demand is an increasing function of past sales because of learning, network externalities or fashion. This paper examines entry into such markets. The two key elements of the model are that firms are uncertain about the demand (and learn in a Bayesian fashion) and...

This paper uses a case study approach to explore the effects of NAFTA and GATT membership on innovation and trade in the Mexican soaps, detergents and surfactants (SDS) industry. Several basic findings emerge. First, the most fundamental effect of NAFTA and the GATT on the SDS industry was to...

Car prices in Europe are characterized by large and persistent differences across countries. The purpose of this paper is to document and explain this price dispersion. Using a panel data set extending from 1980 to 1993, two main facts concerning car prices in Europe are demonstrated: (1) the...

The international expansion of hotel chains is the subject of various sciences and approaches which sits the process and the role of strategic alliances in its performance, but insufficient treatment and considerations from the context in which operate from underdeveloped economies, the main...

Over many millennia, mankind has laboured to consume and satisfy three very necessary material wants or needs: food (including drink), shelter, and clothing. Each of these, however, has also been a major object of luxury consumption in most European societies. Textiles were necessities in...