This book models procurement auctions when suppliers face increasing costs. It is shown than an asymmetric equilibrium exists whereby one bidder bids different prices on each project in a series of simultaneous auctions, while its competitor bids the same price on each project. This existence of such an equilibrium may provide an explanation for observed bidding behavior in industries plausibly - characterized by increasing costs. Further, it is shown that the price paid in simultaneously-held auctions will be less than the prices paid in sequentially-held auctions. Hence, the existence of an...

This book develops more general conditions for identifying when a cost increase may be profitable for incumbent firms. Given those conditions, it then shows that advertising restrictions can act as rent increasing costs and raise the profits of association members. As with previous theories, prices increase as a result of the advertising restrictions. But in contrast with common intuition, measured output actually may increase with restrictions.

Anecdotal evidence reveals that an import quota is not always filled when the quota is specified in terms of a market-share limit instead of a quantity limit. In a simple Cournot duopoly, we provide a theoretical rationale for this outcome. Imposing a market-share quota eliminates pure strategy equilibria. Instead, a mixed-strategy equilibrium arises where only the domestic firm mixes choices. The quota is binding under one of the two equilibrium domestic strategies, but it is not binding under the other. Compared to a tariff that restrains the foreign market share to an equivalent level,...

Resale price maintenance (RPM) continues to be a contentious topic, both in economics and in antitrust. During the 1980s economists derived new efficiency motivations for RPM while the Supreme Court reaffirmed the per se ban on its use and Congress threatened to extend that ban. While economists have proposed a number of different efficiency explanations for RPM, such theorizing has been performed largely without the help of businesses that actually use RPM. This book seeks to find out why businesses may believe they benefit from RPM by examining which efficiency rationales were advanced by...

We examine antidumping policy in a model where a foreign firm is a monopolist in the foreign market, but competes with a native firm in the home market. An antidumping policy changes strategic behavior by giving firms an incentive to manipulate the price differential between home and foreign markets. Under quantity-setting behavior, an antidumping policy often improves the home country's welfare. The welfare of the foreign country may also improve. Under price setting behavior, an antidumping policy worsens the home country's welfare unless the foreign firm has a large cost advantage or...

This book examines the degree of employment and hours per worker adjustment among comparable British, Canadian, and U.S. manufacturing industries. The standard adjustment cost model of dynamic labor demand, assuming nonmyopic firm expectations of the forcing variables, serves as the empirical framework. The results indicate that the estimated speeds of employment adjustment and average hours worked adjustment among British manufacturing industries resemble those of North American manufacturing industries. In addition to the analysis of comparative adjustment behavior, empirical results are...

Eating healthy and being physically active work together to promote good health. Both can be fun parts of parties and gatherings. For children, playtime is priceless-children learn through games. They learn to follow rules, and to give and take. Play teaches children to get along with each other. They discover what they are good at and what they enjoy. This guide provides tips that parents can use in planning celebrations for families, friends, and children. Keep reading for information on: - New ways to promote good health while having fun - Making foods festive - Offering thirst quenchers...

The goal of this practice guide is to formulate specific and coherent evidence-based recommendations that educators can use to encourage girls in the fields of math and science. The target audience is teachers and other school personnel with direct contact with students, such as coaches, counselors, and principals. The practice guide includes specific recommendations for educators and the quality of evidence that supports these recommendations.

Rural communities across America are working to strengthen their economies, provide better quality of life for residents, and build on assets such as traditional main streets, agricultural and working lands, and natural resources. The Partnership for Sustainable Communities-made up of the U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Transportation (DOT), and the U.S. Environmental Protection Agency (EPA)-is coordinating with the U.S. Department of Agriculture (USDA) to ensure that the four agencies' spending, policies, and programs support rural communities'...

This analysis is preliminary and results are subject to change. - By 2075, climate change and coastal development cause expected damage to be five times greater than today(measured in 2015 dollars). - Likely range is three times to eight times greater - The economy in 2075 is projected to be nearly four times larger than it is today. - In combination, climate change and coastal development cause damage to increase more rapidly than GDP. - In contrast, damage due only to coastal development grows more slowly than GDP.