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Property Rights And The Efficient Extraction Of Common Pool Resources: Evidence From West Coast Groundfish, Keith S. Evans, Carl Lian, Quinn Weninger 2020 University of Maine

Property Rights And The Efficient Extraction Of Common Pool Resources: Evidence From West Coast Groundfish, Keith S. Evans, Carl Lian, Quinn Weninger

Economics Working Papers

This paper evaluates harvesting efficiency for the universe of vessels that participated in the West Coast groundfish trawl fishery two years prior to and six years following the intro- duction of an individual fishing quota (IFQ) regulation. Our economic efficiency measures control for delayed fleet restructuring and potentially confounding effects of unobserved stock abundance and/or other time-varying factors. We find that under IFQs, redundant vessel capital exited the groundfish fishery at a rate of 5.77% per year, and resource rent increased at a rate of 6.02% per year. Annual resource rent is estimated at $31.26 million ...


Antitrust: What Counts As Consumer Welfare?, Herbert J. Hovenkamp 2020 University of Pennsylvania Carey Law School

Antitrust: What Counts As Consumer Welfare?, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Antitrust’s consumer welfare principle is accepted in some form by the entire Supreme Court and the majority of other writers. However, it means different things to different people. For example, some members of the Supreme Court can simultaneously acknowledge the antitrust consumer welfare principle even as they approve practices that result in immediate, obvious, and substantial consumer harm. At the same time, however, a properly defined consumer welfare principle is essential if antitrust is to achieve its statutory purpose, which is to pursue practices that injure competition. The wish to make antitrust a more general social justice statute is ...


Antitrust And Platform Monopoly, Herbert J. Hovenkamp 2020 University of Pennsylvania Carey Law School

Antitrust And Platform Monopoly, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

This article first considers an often-discussed question about large internet platforms that deal directly with consumers: Are they “winner take all,” or natural monopoly, firms? That question is complex and does not produce the same answer for every platform. The closer one looks at digital platforms they less they seem to be winner-take-all. As a result, we can assume that competition can be made to work in most of them.

Second, assuming that an antitrust violation is found, what should be the appropriate remedy? Breaking up large firms subject to extensive scale economies or positive network effects is generally thought ...


Notes On The Gridlab-D Household Equivalent Thermal Parameter Model, Leigh Tesfatsion, Swathi Battula 2020 Iowa State University

Notes On The Gridlab-D Household Equivalent Thermal Parameter Model, Leigh Tesfatsion, Swathi Battula

Economics Working Papers

GridLAB-D (GLD) is an agent-based platform, developed by researchers at Pacific Northwest National Laboratory, that permits users to accurately simulate the state dynamics of power distribution systems at time scales ranging from sub-seconds to years. The purpose of this study is to present, in careful comprehensive form, a complete analytical state-space control representation for a version of the GLD Household Equivalent Thermal Parameter Model as support documentation for model users. This model is a physically-based implementation of a household with multiple price-responsive and conventional appliances whose thermal dynamics are determined over successive days by resident appliance usage and external weather ...


Made In The Usa: Technological Corporatism, Infrastructure Regulation, And Dupont 1902-1917, Roman Y. Shemakov 2020 Swarthmore College

Made In The Usa: Technological Corporatism, Infrastructure Regulation, And Dupont 1902-1917, Roman Y. Shemakov

Swarthmore Undergraduate History Journal

The turn of the twentieth century radically renewed industrial organization across the United States. Early American corporations -- centralized manufacturing hubs with journeymen and apprentices laboring under one roof -- were seldom prepared for the transformations that scientific management and structural reorganization would bring to social relations. At the helm of World War 1, DuPont became the epitome of broader national restructuring. Through a close relationship with American military industries and legislatures, the DuPont brothers came to represent Business as an inseparable component of the State. While labor historiography has primarily focused on organizers’ relationship with regulators, important segments of its inverse ...


Agglomeration Economies: How “Y’Allywood” Became The New Hollywood, Joseph Dugan Walker 2020 University of Mississippi

Agglomeration Economies: How “Y’Allywood” Became The New Hollywood, Joseph Dugan Walker

Honors Theses

Agglomeration economies have gained special attention in recent decades. With the increasing connectivity of our world, specialized regional economies are stronger now than ever before. A specific agglomeration economy that has developed in recent years is the Georgia Film Industry. This region surpassed Hollywood as the premier filming location for the first time since the early 1900s when New York was number one. This thesis analyzes the reasons why Georgia was so successful in attracting the film industry and encouraging its development by comparing infrastructure, film tax incentives, population, and labor development to that of competing states like New York ...


Simulation Modeling Of Cross-Dock And Distribution Center Based Supply Chains, Ghewa Al Chall 2020 University of Arkansas, Fayetteville

Simulation Modeling Of Cross-Dock And Distribution Center Based Supply Chains, Ghewa Al Chall

Theses and Dissertations

Companies are implementing new strategies to meet the customer requirements in terms of quality, timing, and cost. One of these strategies is cross-docking, which can be defined as the process of consolidating the products coming from different suppliers, but having the same destination, with minimal handling and almost no storage between loading and unloading of the goods. The purpose of this research is to investigate the benefits of having a cross-docking facility in a supply chain. In this research, we focus on developing discrete event simulation models using the opensource Java Simulation Library (JSL). Also, we work on augmenting an ...


The Impact Of American Economic Aid On Post-World War Ii Germany, Gabriella Barber, Emily T. Carlstrom 2020 University of South Carolina - Columbia

The Impact Of American Economic Aid On Post-World War Ii Germany, Gabriella Barber, Emily T. Carlstrom

Senior Theses

This paper examines the state of Germany immediately after World War II, describing how the American government intervened in West German reconstruction. It analyzes three specific German companies that overcame hardship in the 1940s and 50s and have become powerhouses today. Additionally, an overview of the current German economy shows how the country is positioned as a world leader.

Research was conducted using literary print sources, scholarly internet databases, and a formal interview with Klaus Becker, Honorary Consul to Germany. He is a German-American businessman who has held roles in several non-political associations, including President of the Charlotte World Trade ...


Foreign Direct Investment And Industrial Agglomeration: Evidence From China, Wen-Tai HSU, Yi LU, Xuan LUO, Lianming ZHU 2020 Singapore Management University

Foreign Direct Investment And Industrial Agglomeration: Evidence From China, Wen-Tai Hsu, Yi Lu, Xuan Luo, Lianming Zhu

Research Collection School Of Economics

This paper studies the effect of foreign direct investment (FDI) on industrial ag-glomeration. Using the differential effects of FDI deregulation in 2002 in China on different industries, we find that FDI actually affects industrial agglomeration neg-atively. As FDI brings technological spillovers and various agglomeration benefits, other forces must be at work to drive our empirical finding. We propose a simple theory that FDI may discourage industrial agglomeration due to fiercer competition pressure. We find various evidence on this competition mechanism. We also examine an alternative theory based on spatial political competition, but find no evidence sup-porting it. On industrial growth ...


Why Do Businesses Grow Faster In Urban Areas Than In Rural Areas?, LEE, Jungho, Jianhuan XU 2020 Singapore Management University

Why Do Businesses Grow Faster In Urban Areas Than In Rural Areas?, Lee, Jungho, Jianhuan Xu

Research Collection School Of Economics

We document that growth of business earnings is mostly observed among young firmsin metro areas. Three explanations are considered: metro areas attract more-productiveentrepreneurs, and reaching the optimal size takes time due to borrowing constraints;metro areas provide better learning opportunities; and high operating costs in metroareas allow only the productive firms to survive. We use a firm-dynamics model with alocation choice to quantify the extent to which the three theories explain the data. Wefind the first two theories largely explain the high growth among metro, young firms. Ourmodel also suggests the distortion in entrepreneurs’ location choice can induce substantialwelfare loss.


Common Power Laws For Cities And Spatial Fractal Structures, Tomoya MORI, Tony E. SMITH, Wen-tai HSU 2020 Singapore Management University

Common Power Laws For Cities And Spatial Fractal Structures, Tomoya Mori, Tony E. Smith, Wen-Tai Hsu

Research Collection School Of Economics

City-size distributions are known to be well approximated by power laws across a wide range of countries. But such distributions are also meaningful at other spatial scales, such as within certain regions of a country. Using data from China, France, Germany, India, Japan, and the United States, we first document that large cities are significantly more spaced out than would be expected by chance alone. We next construct spatial hierarchies for countries by first partitioning geographic space using a given number of their largest cities as cell centers and then continuing this partitioning procedure within each cell recursively. We find ...


Comparative Profitability Of Product Disclosure Statements, Anastasia Burkovskaya, Jian Li 2020 University of Sydney

Comparative Profitability Of Product Disclosure Statements, Anastasia Burkovskaya, Jian Li

Economics Working Papers

In insurance industry, product disclosure statements (PDSs) consist of descriptions of uncertain contingencies by the insurance plans (e.g., “hospital coverage”, “dental coverage”, etc.) and are often very different. In this paper, we model PDSs as information partitions of the state space, which can influence how a consumer perceives the structure of her choice problem and hence her deductible choices. We study a model of an insurance company that aims to promote profit by designing the framing of its PDS. We compare the company’s profits under two PDSs, one of which is coarser than the other. Our main results ...


A New Materials And Design Approach For Roads, Bridges, Pavement, And Concrete, Alan Fuchs, Tathagata Acharya, Luis Cabrales, Jesse Bergkamp, Nyakundi Michieka 2020 California State Polytechnic University - Pomona

A New Materials And Design Approach For Roads, Bridges, Pavement, And Concrete, Alan Fuchs, Tathagata Acharya, Luis Cabrales, Jesse Bergkamp, Nyakundi Michieka

Mineta Transportation Institute Publications

Increased understanding of demand for transport energy and how to improve road pavement materials would enable decision makers to make environmental, financial, and other positive changes in future planning and design of roads, bridges, and other important transportation structures. This research comprises three studies focused on pavement materials and a fourth study that examines energy demand within the road transportation sector. These studies are as follows:

1. A techno-economic study of ground tire rubber as an asphalt modifier;

2. A computational fluid dynamics analysis comparing the urban heat island effect of two different pavement materials – asphalt and Portland Cement Concrete ...


Entry Under Placement Uncertainty, Sunanda Roy, Rajesh Singh, Quinn Weninger 2020 Iowa State University

Entry Under Placement Uncertainty, Sunanda Roy, Rajesh Singh, Quinn Weninger

Economics Working Papers

We present a model of firm entry in an industry that is managed with a production cap-and- trade (CAT) regulation. Firms are heterogeneous in productivity; each knows its own productivity but is uncertain about where it ranks in the entrant population. Entry is modeled as a simultaneous move game with incomplete information. Under CAT, firms compete to secure shares of the fixed permit supply. Entry payoffs are determined by own and rival entrant pro- ductivity; if average productivity of rival entrants is low, permit prices are low and returns to vested capital are high. The opposite holds when average productivity ...


The Looming Crisis In Antitrust Economics, Herbert J. Hovenkamp 2020 University of Pennsylvania Carey Law School

The Looming Crisis In Antitrust Economics, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

As in so many areas of law and politics in the United States, antitrust’s center is at bay. It is besieged by a right wing that wants to limit antitrust even more than it has been limited over the last quarter century. On the left, it faces revisionists who propose significantly greater enforcement.

One thing the two extremes share, however, is denigration of the role of economics in antitrust analysis. On the right, the Supreme Court’s two most recent antitrust decisions at this writing reveal that economic analysis no longer occupies the central role that it once had ...


On The Meaning Of Antitrust's Consumer Welfare Principle, Herbert J. Hovenkamp 2020 University of Pennsylvania Carey Law School

On The Meaning Of Antitrust's Consumer Welfare Principle, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

This brief essay addresses the ambiguities in the meaning of “consumer welfare” in antitrust, exploring the differences between the Williamson, Bork, and current understanding of that term. After weighing the alternatives it argues that the consumer welfare principle in antitrust should seek out that state of affairs in which output is maximized, consistent with sustainable competition


What’S In Your Wallet (And What Should The Law Do About It?), Natasha Sarin 2020 University of Pennsylvania Carey Law School

What’S In Your Wallet (And What Should The Law Do About It?), Natasha Sarin

Faculty Scholarship at Penn Law

In traditional markets, firms can charge prices that are significantly elevated relative to their costs only if there is a market failure. However, this is not true in a two-sided market (like Amazon, Uber, and Mastercard), where firms often subsidize one side of the market and generate revenue from the other. This means consideration of one side of the market in isolation is problematic. The Court embraced this view in Ohio v. American Express, requiring that anticompetitive harm on one side of a two-sided market be weighed against benefits on the other side.

Legal scholars denounce this decision, which, practically ...


Análisis Del Sector Lechero Y Aplicaciones Tecnológicas De La Industria 4.0, Kevin Steve Beltrán Clavijo 2020 Universidad de La Salle, Bogotá

Análisis Del Sector Lechero Y Aplicaciones Tecnológicas De La Industria 4.0, Kevin Steve Beltrán Clavijo

Economía

El sector agropecuario colombiano no cuenta con tecnificación ni aplicaciones de la industria 4.0 que si se evidencian en países desarrollados, por ello y dado el panorama internacional, se realiza una revisión documental en torno al sector lechero y los potenciales beneficios que traerá la inclusión de blockchain e infraestructura IoT, tanto para el proceso de producción como para la población rural. Los hallazgos evidenciaron que las implementaciones tecnológicas en las granjas lecheras disminuyen los costos y aumenta la rentabilidad, ya que el control de alimentos y pasturas, junto con un aumento en producción y calidad de la leche ...


The Road To Human Emancipation - The Moral And Political Foundations Of Markets, William Shi 2020 Claremont Colleges

The Road To Human Emancipation - The Moral And Political Foundations Of Markets, William Shi

CMC Senior Theses

The thesis aims to provide both a real public ideology and the legal and socioeconomic structures to realize Karl Marx’s ideal of human emancipation. Marx argues that in capitalist society, the legal and political superstructure forces the ruling class to represent its interest as the public interest, which legitimizes the massive inequality in resources and social power. To demonstrate how to realize the substantive public interest, the two parts of the thesis have two goals. The first part aims to formulate a rightful candidate to the public ideology of human emancipation, which represents the substantive public interest rather than ...


Dynamic Competition With Network Externalities: Why History Matters, Hanna Halaburda, Bruno Jullien, Yaron Yehezkel 2019 Bank of Canada

Dynamic Competition With Network Externalities: Why History Matters, Hanna Halaburda, Bruno Jullien, Yaron Yehezkel

Hanna Halaburda

This paper considers dynamic platform competition in a market with network externalities. A platform that dominated the market in the previous period becomes ``focal" in the current period, in that agents play the equilibrium in which they join the focal platform whenever such equilibrium exists. We ask whether a low-quality but focal platform can maintain its focal position along time, when it faces a higher quality competitor. Under finite horizon, we find that when platforms are patient enough, the unique equilibrium is efficient. With infinite horizon, however, there are multiple equilibria in which either the low or the high quality ...


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