We extend the analysis of optimal scale in pollution permit markets by allowing for both market power and private information. We characterize the total costs (abatement costs and damages) under market power and private information and compare them to total costs under competition. It is...

Renewable portfolio standard (RPS), which requires a certain percentage of electricity production from renewables, has received considerable attention. One emerging issue is the possibility of strategic behavior in the renewable energy certificate/credit (REC) market, and its spillover effects...

Markets in civil aviation are characterized by large differences in the level of competition, both between time periods as between regions. To measure competition, several indicators are available, such as the number of competitors, the C4-index and the Herfindahl index. We use these measures in...

This paper looks at the effects of some of the recent airline mergers in China. Overall, no significant airfare increases are found in a sample of markets served by the merged China Eastern and China Southern after 2002; indeed in most of the markets directly affected airfares declined. This was...

This paper aims to deface bank going concern public secrecy. Emanating from the refusal of bank supervisory auditors to share knowledge about bank financial condition publicly and the dependence of bank statutory auditors on ineffective bank going concern opinion model, bank going concern public...

This article proposes a two-stage oligopoly model for the crude oil market. In a game of several Stackelberg leaders, market power increases endogenously as the spare capacity of the competitive fringe goes down. This effect is due to the specific cost function characteristics of extractive...

This paper investigates the role of informative advertising in creation and augment of market power as well as the ability of an advertiser to maximize the value of its economic rent. Informative advertising is considered to be a merit good unlike a persuasive one that is mostly associated with...

Delipalla and O'Donnell (2001) contains a formula for the incidence of specific and ad valorem taxes in a conjectural variation oligopoly model with potentially asymmetric firms. The formula is incorrect. We derive the correct formula and provide a discussion of the error and its implications...

This paper originates the theory of buyer concentration for a main raw material input for a single processing industry. The oilgopsony concentration is obtained and subsequently decomposed into several factors, affecting indirectly the industry's profitability. It is found that the leading...

A conjectural variations model is developed to measure market power in the banking industry. Unlike previous studies, which use complete cost function specifications in the modelling framework, this study defines marginal cost based on an opportunity cost, which is represented by the interest...