Many companies supplying consumption goods and services provide their shareholders with price discounts when they consume them. Although this practice is not uncommon it has not been analysed to date. This paper presents a simple model describing shareholder discounts and consequent market...

This paper investigates differences between the educational attainment immigrants and native born individuals in Australia by using Australian Youth Survey (AYS) data combined with aggregate Australian Census data. We decompose differences in educational attainment into: (i) typical demographic...

This paper considers the situation where some firms in an industry collude together as an RJV cartel to compete with other firms who individually engage in R&D. The analysis shows that this partial RJV cartelisation may increase market concentration. In comparison with pure R&D competition,...

The purpose of this paper is to analyse how trade liberalisation affects location decisions of firms in vertically linked industries with different factor intensities. Firms can choose to locate either in a low wage, labour abundant, country or a low rental, capital abundant, country. We derive...

This study examines the role of auctioneer's strategy used in determining pricing at art auctions. It characterizes the role of auctioneers, prices that the paintings were sold at and tests a series of hypotheses about their behaviour. This is done using pricing data from an auction of...