Sustaining Collusion in Growing Markets

The impact of demand growth on the collusion possibilities is investigated in a Cournot supergame where market growth may trigger future entry and the collusive agreement is enforced by the most profitable ‘grim trigger strategies’ available. It is shown that even in situations where perfect collusion can be sustained after entry, coping with a potential entrant in a market which is growing over time may completely undermine any pre‐entry collusive plans of the incumbent firms. This is because, before entry, a deviation and the following punishment phase may become more attractive thanks to their additional effect in terms of delaying entry.     

Public-Private Partnerships and Prices: Evidence from Water Distribution in France

We use an original database of 5000 French local public authorities to explore the impact of organizational choice and performance as measured by consumer prices. In quantifying the impact of the choice of public-private partnerships (PPPs) on performance, we consider the related issue of the determinants of organizational choice. We estimate a switching regressions model to account for the endogeneity of organizational choice, and find that in our sample, (i) the choice by local public authorities to engage in a PPP is not random, and (ii) conditional on the choice of a PPP, consumer prices are significantly higher on average.     

Is your vision consistent?: A method for checking, based on scenario concepts

Common sense tells us that the future is an essential element in any strategy. In addition, there is a good deal of literature on scenario planning, which is an important tool in considering the future in terms of strategy. However, in many organizations there is serious resistance to the development of scenarios, and they are not broadly implemented by companies. But even organizations that do not rely heavily on the development of scenarios do, in fact, construct visions to guide their strategies. But it might be asked, what happens when this vision is not consistent with the future? To address this problem, the present article proposes a method for checking the content and consistency of an organization's vision of the future, no matter how it was conceived. The proposed method is grounded on theoretical concepts from the field of future studies, which are described in this article. This study was motivated by the search for developing new ways of improving and using scenario techniques as a method for making strategic decisions. The method was then tested on a company in the field of information technology in order to check its operational feasibility. The test showed that the proposed method is, in fact, operationally feasible and was capable of analyzing the vision of the company being studied, indicating both its shortcomings and points of inconsistency.     

Assessing Applied Protection across the World*

This paper presents MAcMap–HS‐6, a database providing a consistent, ad valorem equivalent measure of tariff duties and tariff rate quotas for 163 countries and 208 partners, at the six‐digit level of the Harmonized System (5111 products), accounting for all preferential agreements. We describe the methodology used to compute and aggregate an ad valorem equivalent of applied protection. Emphasis is placed on minimizing the endogeneity bias in the aggregation procedure, while acknowledging structural differences in export specialization. The resulting quantitative assessment is illustrated by giving an overview of applied protection across the world in 2001, in terms of average as well as distribution.     

A model depicting the relations among perceived stressors,role conflict and organizational commitment: A comparative analysis of Hong Kong and the United States

As managers and employees from different cultures begin to encounter one another in the workplace, the need arises to understand how organizational variables relate differentially based on one's culture. This study attempts to provide a preliminary examination of the relationship between stressors, sources of conflict and job commitment across two differing cultures, specifically the United States and Hong Kong. Although more similarities than differences between the two cultures were found, this study provides at least preliminary evidence that members of different cultures may perceive some stressors differently and exhibit different relationships between stressors and work attitudes.     

Bank Capital Regulation in Contemporary Banking Theory: A Review of the Literature

This paper reviews the theoretical literature on bank capital regulation and analyzes some of the approaches to redesigning the 1988 Basel Accord on capital standards. The paper starts with a review of the literature on the design of the financial system and the existence of banks. It proceeds with a presentation of the market failures that justify banking regulation and an analysis of the mechanisms that have been suggested to deal with these failures. The paper then reviews the theoretical literature on bank capital regulation. This is followed by a brief history of capital regulation since the 1988 Basel Capital Accord and a presentation of both the alternative approaches that have been put forward on setting capital standards and the Basel Committee's proposal for a new capital adequacy framework.     

Feature selection methods involving support vector machines for prediction of insolvency in non‐life insurance companies

We propose two novel approaches for feature selection and ranking tasks based on simulated annealing (SA) and Walsh analysis, which use a support vector machine as an underlying classifier. These approaches are inspired by one of the key problems in the insurance sector: predicting the insolvency of a non‐life insurance company. This prediction is based on accounting ratios, which measure the health of the companies. The approaches proposed provide a set of ratios (the SA approach) and a ranking of the ratios (the Walsh analysis ranking) that would allow a decision about the financial state of each company studied. The proposed feature selection methods are applied to the prediction the insolvency of several Spanish non‐life insurance companies, yielding state‐of‐the‐art results in the tests performed. Copyright © 2005 John Wiley & Sons, Ltd.     

International health law and consumer autonomy

Today, international health law and international consumer law are developing in the same direction and with much interaction. But the developments are not uniform. As international health law takes consumer protection into account, it tends to increase the gap between a Western international law and a Third World international law, and to emphasize the negative harmonization approach towards international health protection.Another problem concerns the unification of the rules of international health law and those of international consumer law. This problem is particularly difficult to solve, as the rules of international consumer law themselves are still far from being unified.

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Internationales Gesundheitsrecht und Verbraucherautonomie

Zusammenfassung Internationales Gesundheitsrecht und internationales Verbraucherrecht entwickeln sich heute in gleicher Richtung, obwohl sie anderen Quellen entspringen. Die wechselseitige Durchdringung nimmt zu, auch wenn die Enwicklung nicht einheitlich vor sich geht. Je mehr das internationale Gesundheitsrecht den Verbraucherschutz in sich aufnimmt, destomehr trennt es sich in ein Recht für entwickelte Staaten und ein solches für Dritte Welt-Länder. Ein vorwiegend negativ-abwehrender Zugang herrscht vor.Ein anderes Problem beinhaltet die Harmonisierung der Regeln des internationalen Gesundheits- und des internationalen Verbraucherrechts. Dies ist schon deshalb schwer erreichbar, weil das Verbraucherrecht selbst nicht einheitlich vorgeht. Die Probleme verschärfen sich, wenn man — ohne eine internationale Verbraucherinstitution wie die WHO — eine gemeinsame positive Gesundheitspolitik für Verbraucher erreichen will.

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Michel Bélanger teaches health law at the U.F.R. de Droit Public et Science Politique, Université de Bordeaux I, Avenue Léon Duguit, F 33604 Pessac, France.