We examine an international “Rule of Three” (RoT) market that allows within and between countries competition. The addition of a domestic competitor increases the exchange-rate exposure of both competing firms relative to a duopoly, unless the exchange-rate passthrough of one of its rivals...

Numerous, mainly empirical, studies of auditing behaviour have recently looked at the “reputation” of the auditor and the size of fees it attracts. Our model of the auditing market advances the study of the fundamental principles involved in determining behaviour in relation to the rewards...

The purpose of this note is to discuss the envelope relationship between long run and short run cost functions. It compares the usually presented relationship with one of different form and implications, resulting from a simple production function and constant prices. It points out in particular...