Exclusive Contracts And Market Power: Evidence From Ocean Shipping

There is a substantial theoretical literature on the potential effects of loyalty contracts, but relatively little empirical work. We employ the event study methodology to examine the competitive effects of exclusionary contracts in the ocean shipping industry, where they were the subject of an extended legal and political struggle. We find that some of the most important events in this conflict caused significant changes in shipping firms' stock returns, indicating exclusive contracts increased their profits. We then examine the effect of these events on net exporting industries' stock returns, and provide evidence that these contracts contributed to carriers' market power.     

Policy-Induced Technology Adoption: Evidence from the U.S. Lead Phasedown

Theory suggests that economic instruments, such as pollution taxes or tradable permits, can provide more efficient technology adoption incentives than conventional regulatory standards. We explore this issue for an important industry undergoing dramatic decreases in allowed pollution – the U.S. petroleum industry's phasedown of lead in gasoline. Using a duration model applied to a panel of refineries from 1971–1995, we find that the pattern of technology adoption is consistent with an economic response to market incentives, plant characteristics, and alternative policies. Importantly, evidence suggests that the tradable permit system used during the phasedown provided incentives for more efficient technology adoption decisions.     

Public Policy and Attitudes on Tax Support for Live Artistic Communications Media

Abstract . Hypothesized direct and interaction relationships among the dependent variable willingness to pay more taxes for support of live artistic communications media and the independent variables of past attendance, education, income, leisure time, and liberalism-conservatism are tested. Past enjoyment probably makes people more favorable to tax support. Social policy implications of the results are discussed.     

中国和美国正在走向冲突?

随着中国的崛起,中国和世界上唯一的超级大国美国之间的国力差距在缩小。不少观察家担心,武装冲突将随之发生。在近代历史上,出现过七次大国崛起,挑战现存强国,其中六次都导致了冲突。但是,本文指出,有理由相信,中国的崛起将是和平的。     

Current Agricultural Situation Calls for Science and Technology

The first document,or known as the No.1 document,to address China's agricultural issue by improving agriculture science and technology is in urgent need,considering the present situation facing the agricultural development.