The electricity market in Portugal was recently opened to all consumers. However, it remains highly concentrated in terms of control of production and supply and the long-term power purchase arrangements still coexist with free market. This paper discusses the electricity market restructuring process in Portugal, presenting its main marks over the past years and the present situation. The evolu...

A multiple-market framework is developed to measure the size and distribution of research benefits. The model considers an upstream raw product market and a downstream finished product market and allows for imperfect competition in the intermediary food-processing sector. A central conceptual result is derived: an increase in raw product output is a sufficient condition for costreducing innovat...

Product Market Competition and Lobbying Coordination in the U.S. Mobile Telecommunications Industry* by Astrid Jung and Tomaso Duso This paper empirically investigates market behavior and firms’ lobbying in a unified structural setup. In a sequential game, where firms lobby for regulation before they compete in the product market, we derive a testable measure of lobbying coordination. Applying ...

We study two firms that compete based on their price and lead-time decisions in a common market. We explore the impact of the decentralization of these decisions, as quoted by the marketing and production departments, respectively, comparing three scenarios: (i) Both firms are centralized, (ii) only one firm is centralized, (iii) both firms are decentralized. We find that under intense price co...

Product Market Competition and Lobbying Coordination in the U.S. Mobile Telecommunications Industry* by Astrid Jung and Tomaso Duso This paper empirically investigates market behavior and firms’ lobbying in a unified structural setup. In a sequential game, where firms lobby for regulation before they compete in the product market, we derive a testable measure of lobbying coordination. Applying ...

Perfect competition has long been the standard by which economists have judged the market’s ability to achieve an efficient social outcome. The competitive process, unfettered by the imperfections discussed below, forges an outcome in which goods and services are produced at their lowest possible cost, and market equilibrium is achieved at the point at which the cost of the last unit supplied j...

today trade is the basis of development of any societies that with its expansion, the industrial enterprises, takes advantage of its benefits and enhances their productivity. also they earn competitive advantage and further providing domestic needs, can capture the new markets. among these, the role of imports in trade is very important because the import of capital and intermediate inexpensive...

We give a selective survey of oligopoly models for energy production which capture to varying degrees issues such as exhaustibility of fossil fuels, development of renewable sources, exploration and new technologies, and changing costs of production. Our main focus is on dynamic Cournot competition with exhaustible resources. We trace the resulting theory of competitive equilibria and discuss s...

This paper examines the effects of temporary protection in a model of international Cournot competition under the learning curve. We show that when the protected firm can choose among multiple technologies subject to different scopes for learning, the positive relationship between current production and learning cannot be relied upon. The protection may hurt the long-run competitiveness of the ...

A production approach based on the translog cost function is used to analyze import demand for wheat differentiated by class and country of origin in the Japanese wheat flour milling industry. Results indicate that US wheat faces strong competition in the Japanese wheat market, but its multiple classes and end-use characteristics enable the US to preserve the largest market share in Japan. © 20...