This paper looks at the relationship between centralisation of the wage bargain and individual effort when the effort elicitation mechanism is provided by intra-firm, rather tha inter firm, wage differentials.

The paper analyses the decision made by firms to issue one-time coupons as a means of attracting new deal prone customers. Given the structure of the market and the share of loyal customers, we derive boundaries for the value of the coupon, as well as the optimal face value of the coupon. The...

Consumers' beliefs in the benefits of reducing fat intakes, especially saturated fat, and of increasing calcium intake from such foods dairy products, depend upon the acquired information related to diet and health. This study develops new health information measures from different sources. The...

We analyse the rate of return (ROR) regulation that is based on the book value of firm's assts, show how the result of it differ from that predicted from the normal Averch-Johnson (AJ) effect, and compare the book-based ROR regulation with the market-based ROR regulation.

This paper studies the effects of 'price-matching' policies in the Bertrand oligopoly model. If one or more consumers incur enforcement costs to utilize price-matching clauses, the unique equilibrium outcome is the competitive one.

We build a simple model with quality, show that price-cap (PC) regulation causes distorsions in quality compared to rate-of-return (ROR) regulation. We next consider methods to correct this distortion, and show the following results: (i) PC regulation, in which the cap is made contingent on...