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1.
Summary Competition authorities are increasingly measuring the effects of their enforcement actions, seeking a robust justification
for the proliferation of competition policy. We highlight the importance of identifying the right counterfactual against which
to measure effects, and set out the relevant categories of costs and benefits. We then explore how a balance can be struck
between the benefits and inherent limitations of these measurement exercises. Relatively crude analyses of cartel action benefits
can be sufficient to achieve public legitimacy for competition policy. Assessing the effects of merger and conduct inquiries
is often ambiguous, but could be used to improve decision-making processes.
Director and Managing Consultant, respectively, at Oxera, Oxford and London. The valuable comments of Fod Barnes, Kerry Hughes
and an anonymous referee are gratefully acknowledged. The opinions expressed in this article are those of the authors alone. 相似文献
2.
Efficient Liability Rules: Complete Characterization 总被引:5,自引:0,他引:5
Received May, 18, 2000; revised version received March, 19, 2001 相似文献
3.
above the certainty level while for additive uncertainty the price should be lower than the certainty level. This note gives an intuitive explanation for the result after first presenting a parsimonious review
of the two models. We also discuss which, if either, of the two models is more realistic.
Received December 14, 2001; revised version received July 16, 2002
Published online: April 30, 2003
We thank referees for helpful comments. Ciaran Driver would like to acknowledge the research facilities from ANU, Canberra
for their help in writing this paper. 相似文献
4.
Demand fluctuations and capacity utilization under duopoly 总被引:4,自引:0,他引:4
Summary. This paper studies the impact of uncertain demand on firms’ capacity decisions when they operate in an oligopolistic environment.
We define a two-stage game where firms choose capacity in the first stage without knowing which state of Nature is going to
realize, and output levels in the second, knowing which state is realized. We prove the existence of a symmetric subgame perfect
equilibrium at which firms are in excess capacity compared with the capacity they would choose in the Cournot certainty equivalent
game.
Received: May 17, 1996; revised version July 31, 1996 相似文献
5.
Shouyong Shi 《Economic Theory》1997,10(1):99-133
Summary. This paper examines the relationship between specialization and the use of money in two versions of the search-theoretic
monetary model. The first version establishes a surprising result that specialization is more likely to occur in a barter
economy than in a monetary economy. The result is reversed in the second version where a different specification of preferences
is adopted to limit the scope of barter. This contrast between the results provides a concrete illustration of the general
argument that money encourages specialization only when it enlarges the extent of the market.
Received: January 31, 1995; revised version August 12, 1996 相似文献
6.
Underdetermination, associated with the DuhemQuine thesis,is a familiar if under-researched theme in economics. In thelight of this, we examine the development of urban land andhousing economics. Through its Cartesian dualistic delineationof theory and data, the contemporary mainstream approach appearsunable to circumvent the problem of underdetermination. In effect,it employs the strong version of DuhemQuine in its retentionof the assumption of a single, unitary competitive market (andassociated accessspace trade-off). Conversely, we highlightthe affinity of Ely's (and the later Columbia School's) approachto pragmatists Dewey and Peirce, which provides a more fruitfulbasis for explanation. 相似文献
7.
8.
Received March 5, 2001; revised version received August 5, 2002
Published online: April 30, 2003 相似文献
9.
The Median Voter Theory is an important theory in the neo-political economics. It can be applied to solve the collective choice
paradox and analyze the policy making for the citizenization of peasant workers. Adopting the method of factor analysis, this
paper makes an empirical study on peasant workers’ preference for citizenization. We find that there is a paradox of future
residence preference and self-identification in peasant workers. On this basis, peasant workers are divided into 5 subgroups,
and it is found that the median undecided peasant workers are the median voters. Based on the analysis of the median undecided
peasant worker’s complaints and appeals, it is proposed that the country should strengthen the vocational training system,
establish a social security system, expand the agricultural reform and promote educational reform to facilitate the citizenization
of peasant workers.
__________
Translated from Guanli Shijie 맜理世界 (Management World), 2007, (4): 40–67 相似文献
10.
Ines Lindner 《Economic Theory》2008,35(3):607-611
We extend Condorcet’s Jury Theorem (Essai sur l’application de l’analyse à la probabilité des décisions rendues à la pluralité
des voix. De l’imprimerie royale, 1785) to weighted voting games with voters of two kinds: a fixed (possibly empty) set of
‘major’ voters with fixed weights, and an ever-increasing number of ‘minor’ voters, whose total weight is also fixed, but
where each individual’s weight becomes negligible. As our main result, we obtain the limiting probability that the jury will
arrive at the correct decision as a function of the competence of the few major players. As in Condorcet’s result the quota
q = 1/2 is found to play a prominent role.
I wish to thank Maurice Koster, Moshé Machover, Guillermo Owen and two anonymous referees for helpful comments. 相似文献