Regularity conditions and scope estimates: The case of large-sized U.S. banks

We consider economies and diseconomies of scope for large U.S. banks by employing ordinary and hybrid translog cost functions. We examine the regularity conditions in output space where scope estimates are calculated and reject all models for which these conditions fail. The translog model always possesses violations. For the hybrid translog, violations occur in every case except one. In this one case, we find economies of scope.     

Nationwide information services using data broadcasting

Data broadcasting offers significant advantages over conventional computer and communications networks, as a nationwide, low cost, high speed system of data distribution. Focusing on the UK, this article highlights these advantages, with particular reference to the BBC's Datacast service. Future developments in data broadcasting, such as the introduction of satellite-compatible systems, are discussed. Finally, the article analyses policy considerations on a national and international scale.     

Strategic Preemption in a Common Property Resource: A Continuous Time Approach

The threat of future entry affects the exploitation of common property resources in important ways. An incumbent has a strategic incentive to manipulate the resource stock to deter entry or to harvest more stock prior to entry rather than share the resource with the entrant. It is possible that the threat of potential entry can lead to the extinction of the resource even though actual competition would result in a steady state with a positive stock level.     

Regional government

Tindale, S. (ed.) 1996: THE STATE AND THE NATIONS. THE POLITICS OF DEVOLUTION. London: IPPR, £11.95 paper.     

HOUSEHOLD INCOME PLUS HOUSEHOLD PRODUCTION: THE DISTRIBUTION OF EXTENDED INCOME IN THE U.K.

This paper provides new estimates of the distribution of extended income amongst non-elderly, one-family households in the U.K. by combining household money income data and valuations of household production time. Extended income is substantially more equal than money income and extending the income definition changes income relativities significantly between families with and without earners and between married couple families and singles.