This paper characterizes a set of Nash equilibria in a first-price sealed-bid repeated auction with the right of first refusal using two bidders and asymmetric information regarding the bidders' value distributions. When contract value is constant from one auction to the next and winners' values...

We propose a Generalized Quadratic Utility (GQU) model for an incomplete demand system with binding non-negativity constraints which is flexible in income and price effects. The model accounts for zero consumption using choke prices identified by Kuhn-Tucker conditions. The GQU demand system can...

Background: This article takes a look at the technical efficiency of 53 A-share listed companies of Chinese military industrial enterprises in the '10 Major Military-industrial Groups' based on the random Frontier B95 model and the panel data of listed companies from 2010 to 2015. Objectives:...

A simple experiment is used to examine the effect of grocery store nutrition labels on the sales of microwave popcorn in the East Bay area of California. Using an incomplete demand system we estimate the impact of the nutrition labels on sales of healthy (products that merit a nutrition label)...

Nutrition labels can potentially benefit consumers by increasing product knowledge and reducing search costs. However, the global increase in obesity rates leads one to question the effectiveness of current nutrition information formats. Alternative formats for providing nutrition information...

Retail and wholesale gasoline prices vary over time and across geographic locations due to differences in government policies and other factors that affect demand, costs, and market power. We use a two-equation, reduced-form model to determine the relative importance of these various factors. An...

The federal specific gasoline tax falls equally on consumers and wholesalers; whereas state specific taxes fall almost entirely on consumers. The consumer incidence of state taxes is greater in states that use relatively little gasoline.