Exports of agricultural commodities to developed countries play a significant role inthe economies of many developing countries. The elimination of import tariffs has the potentialto benefit producers in the developing countries, but estimates of the effect of trade liberalizationtypically...

In April 2003 the U.S. Federal Energy Regulatory Commission proposed a complicated marketdesign – the Wholesale Power Market Platform (WPMP) – for common adoption byall U.S. wholesale power markets. Versions of the WPMP have been implemented in NewEngland, New York, the mid-Atlantic states,...

One possible strategy for both succession and new business development is employee ownership.New business formation as an employee-owned firm or cooperative may have some advantagesover formation as a sole proprietorship or partnership: pooling financial resources, spreading riskand combining...

Research and Development (R&D) and innovation are crucial features of the seed industry. To supportlarge R&D investments by the private sector, strong intellectual property rights, such as patents, arenecessary. The exclusivity granted by patents naturally creates market power positions and...

Taking location as given, we study imperfect competition on a circular city. In Bertrandoligopoly, we identify price harmonics as a function of firm unit costs and locations. The sumof oligopoly profits is larger when costs and/or locations are more dispersed in the ‘dihedralmajorization’...

We develop a model with one innovating northern firm and heterogeneous southernfirms that compete in a final product market. We assume southern firms differ in their intrinsiccosts and their ability to adapt technology and study southern incentives to protect intellectualproperty rights. We find...

To reduce the competition from farmers who self-produce seed, an inbred line seed producercan switch to nondurable hybrid seed. In a two-period model we investigate the impactof crop durability on self-production, pricing and switching decisions, and we examine theimpact of license fees paid by...

We extend Bresnahan and Reiss’s (1991) model of local oligopoly to allow firm entry and exit over time.In our framework, entrants have to incur sunk costs in order to enter a market. After becomingincumbents, they disregard these entry costs in deciding whether to continue operating or to...

This paper describes major external changes to the U.S. public agricultural researchsystem over 1988-1999; describes the reactions of the public agricultural research system to theexternal changes, specifying the innovations that have occurred over the last decade; and drawsconclusions about the present...

This paper considers competition between two multinationals (U, J) who compete in a third market (K).The multinationals have similar cost structures, but differ in that J comes from a country that is “culturallysimilar” to K, and hence produces products that match more closely the...