In the lab, we examine the effectiveness of two land use conservation policies: a tradable set aside requirements (TSARs), and the TSARs combined with an agglomeration bonus. Evaluated by bioeconomic efficiency, our experimental results suggest: 1) TSARs is a cost-effective land conservation...

The estimation of allocative and technical inefficiency has grown to an enormous body of literature, both theoretical and empirical. Ideally, one would estimate time-varying firm and input-specific parameters describing allocative inefficiency in order to minimize aggregation bias. However, this...

Econometric models to estimate allocative and technical inefficiency include stochastic shadow distance frontiers, shadow cost frontiers, and shadow profit frontiers. In these models, the cost savings from eliminating both sources of inefficiency is often reported in total and then decomposed...

We nest conjectural parameters into a standard oligopoly model. The conjectural parameters are modeled as functions of multimarket contact. Using data from the US airline industry, we find: i) carriers with little multimarket contact do not cooperate in setting fares, while carriers serving many...

We investigate the role of limited access to airport facilities as a determinant of the hub premium in the US airline industry. We use original data from competition plans that airports are required to submit to the Department of Transportation in compliance with the Aviation Investment and...

We nest conduct parameters into a standard oligopoly model. The conduct parameters are modeled as functions of multimarket contact. Using data from the US airline industry, we find: i) carriers with little multimarket contact do not cooperate in setting fares, while carriers serving many markets...

We investigate the role of limited access to airport facilities as a determinant of the hub premium in the U.S. airline industry. We use original data from competition plans that airports are required to submit to the U.S. Department of Transportation in compliance with the Aviation Investment...

We show that multimarket contact facilitates tacit collusion in the US airline industry using two complementary approaches. First, we show that the more extensive is the overlap in the markets that the two firms serve, i) the more firms internalize the effect of their pricing decisions on the...

We provide empirical evidence to support the hypothesis that multimarket contact facilitates tacit collusion in the US airline industry using two complementary approaches. First, we show that the more extensive is the overlap in the markets that the two firms serve, i) the more firms internalize...

We study the effect of consolidation on airline network connectivity using three measures of centrality from graph theory: Degree, Closeness, and Betweenness. Changes in these measures from 1990 to 2015 imply: i) the average airport services a greater proportion of possible routes, ii) the...