This article calculates conduct parameters (or "conjectural variations") for a set of duopoly airline routes. We estimate the mean conduct parameter for each airline and draw inferences about whether Bertrand, Cournot, or cartel models are supported by the data. Some sensitivity analysis with...

This paper examines the effect of the change of state shares in a state-owned enterprise (SOE) on the efficiency of the whole society and the payoff of the government. This issue is addressed by setting up a mixed oligopolistic competition model and dividing the analysis into two cases: closed...

The usual approach to intra-industry trade is to assume such trade arises because slightly different commodities are produced and traded to satisfy consumers' tastes for variety. This paper shows there are reasons to expect two-way trade even in identical products, due to strategic interaction...

This paper develops a model where rivalry of oligopolistic firms serves as an independent cause of international trade. The model shows how such rivalry naturally gives rise to "dumping" of output in foreign markets, and show such dumping can be reciprocal -- there may be two-way trade in the...

The paper examines the interaction between a resource-exporting and a resource-importing country. The exporter chooses an optimal depletion rate and decides the allocation of the extracted resource between exports and domestic use. Optimal management from a national view entails inefficiency...

This paper divides firms in the Standard and Poor’s 500 (S&P 500) into two groups based on inclusion in or exclusion from the Domini Social Index (DSI). Inclusion in the DSI is interpreted as a positive indicator of ethical status. Using data for the 1992–2003 period, I provide...