This paper studies a dynamic game where each of two large blocs, of fossil fuel importers and exporters respectively, sets either taxes or quotas to exercise power in fossil-fuel markets. The main novel feature is the inclusion of a "fringe" of non- strategic (emerging and developing) countries...

Abstract 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...

In an attempt to improve the nation's health, many U.S. policy makers have or are considering imposing taxes on the fat in food. Dairy products constitute a large portion of at home fat consumption of particularly harmful types of fat, and nearly all U.S. households consume these products. We...

Although many theoretical industrial organization models are based on the existence of a critical mass of exogenously “brand loyal” consumers, we find little empirical evidence supporting these assumptions in the orange juice retail market. There are very few loyal consumers. More importantly,...

A method of estimating market structure and tax incidence, when data are available for some firms and the total industry, is applied to the domestic Japanese television market. This market is shown to be oligopolistic with a tax incidence on consumers greater than 100 percent. Tax incidence...

Risk aversion plays an important role in explaining why antitrust cases settle instead of going to trial. Using a jointly estimated model of settlement and trial outcome, the authors find that a one percent increase in the probability that the plaintiff wins at trial raises the probability of a...

A linear-quadratic dynamic oligopoly model is used to estimate the competitiveness of the rice export market. The model nests various market structures using either open-loop or feedback strategies. The estimated feedback model implies a less competitive market structure than the estimated...

Full-information maximum likelihood is used to estimate union wage, hours, and earnings markups. Construction union wage markups are positive (58.2 percent at the sample means). Since union hours markups are negative (A4.0 percent) for most demographic groups, union earnings markups (51.1...

Where consumers have imperfect i nformation about specific firms' prices and lack information about the market, f irms have informational market power. In general, improving the consumers' infor mation about each firm's price will not necessarily lower the average market pri ce. The authors show...