This paper explores potential realization of gains by hospitals that are managed on a day-to-day basis by external organizations under formal contracts. It draws from the incentives literature, which postulates that managers of firms where ownership is separated from control will employ an input...

This paper explores changes in traditional commodity programs from the perspective of domestic welfare. A theoretical model was developed which describes domestic welfare changes that follow from policies consistent with reductions in international price distortions. The model was applied to the...

This article compares the strategic announcement of a reservation price by a bid-taking buyer in a first-price sealed bid auction with the strategy of no announcement. Simulation results indicate that an operative ceiling price that is unknown to bidders will yield lower supply costs to the...

This paper presents new estimates of scale economies for US hospitals. We show that the common translog specification of hospital costs is a misspecification, and employ nonparametric, local linear estimation with both continuous and discrete covariates. A bootstrap method is used to provide...