Motivated by the observation that many countries with an active industrial policy also have a lax competition policy, this paper argues that restricting firm numbers may be a means of rendering industrial policy more effective. A simple model is set up in which a subsidy is desirable to correct...

This paper develops a Hotelling location model in which two radio stations choose combinations of local and international content to play, given consumers with preferences distributed over those combinations. Station revenue derives from sales of advertising time, the demand for which depends...

This note considers Hotelling’s (1929) model of locational choices by two firms and subsequent price competition in a setting where atomistic consumers locate first. It is shown that any equilibrium in pure strategies involves either one or two mass points with all surplus captured either by...

This article considers two radio stations choosing combinations of local and international content to broadcast to consumers with preferences over those combinations. Station revenue derives from sales of advertising time, the demand for which depends negatively on its price and positively on...

This paper proposes a possible explanation for uniform pricing in the recorded music industry, based on a pooling equilibrium across different quality types. We show that an ex ante ability to invest in the probability of success - which we identify with record companies' A&R expenditures -...

This paper constructs a model of the provision of commercial music in which some consumers (enthusiasts) enjoy diversity and others (faddists) prefer to follow what is popular. Record companies sign up bands, only some of whom will 'succeed' - a process modelled in a number of alternate ways -...

Trade Policy Reforms and Development, comprises 11 essays offering new contributions on the following topics: globalisation and political economy of trade; trade, labour standards and economic crisis; the changing role of the WTO; competition policy and the WTO; choice of formulas for market access...

The aim of this paper is to consider the political forces behind these tradereforms with an eye towards explaining the political success of the unilateral approach. We seek to provide some answers to the following sorts of question. What were the vested interests behind New Zealand's starting...