This paper looks at the problem of making multiple lending decisions which affect the supply of the product when the consequences of these lending decisions are interrelated via the effect on the world price of the product. This is termed the 'adding up problem'. It is argued that thinking of...

In the first of the two companion papers, we show that the dynamic aspects of the license utilization decision in an uncertain environment, together with the usual policy of rewarding high license utilization with future license allocations. creates four components of the license price. These...

This paper provides definitions and measures of the extent of adaptability of an economy to exogenous changes in product prices, factor availability and technological change. It is argued that flexibility can in general only be defined relative to the exogenous changes that occur. Using a dual...

This paper is a selective survey of the work on the effects of export restraints with imperfect competition. Although there are a number of excellent surveys of strategic trade theory as a whole. not much attention is paid in these to the effects of export restraints per se. The large and...

This paper examines the effects of auctioning quota licenses when monopoly power exists. With a foreign monopoly and domestic competition the sales of licenses will raise any revenue if domestic and foreign markets are segmented. More surprisingly, the inability to raise revenue is shown to...

This paper examines the effects of auctioning quota licenses when market power exists. The overall conclusion is that with oligopolistic markets, quotas, even when set optimally and with quota licenses auctioned off, are - unlikely to dominate free trade. Moreover, auction quotas only strictly...

This paper has two aims. First, to examine alternative ways of modeling VERS in imperfectly competitive markets. This is important, since the. effects of VERS are sensitive to the models used. Second, to argue that the effects of VERS also depend on whether goods are complements or Substitutes....

Recent work in optimal trade policy for imperfectly competitive markets usually identifies the optimal level of an instrument, and when more instruments are allowed, general interpretations have been unavailable, This paper analyzes the jointly optimal levels of a Variety of instruments with...

In oligopolistic situations content protection can have unexpected effects as it changes the nature of interactions between input suppliers. With a duoply, it does so in a manner that makes the foreign firm wish to match price increases and decreases of the domestic firm. Domestic input...

This paper deals with the effect of trade restrictions on competition in oligopolistic markets. Quantitative restrictions, such as VER's (Voluntary Export Restrictions) are shown to affect the extent to which foreign firms can compete in the domestic market, and hence to raise the equilibrium...