The hydrogenolysis of ethane has been investigated on clean and Ni-covered Pt( 1 1 1) at reactant partial pressures between 0.5 and 4 Torr of ethane and between 80 and 270 Torr of hydrogen and for surface temperatures from 550 to 640 K. On clean Pt( 1 1 1) the hydrogenolysis reaction proceeds with an activation energy of 36.6 kcal/mol and reaction orders in C2H6 and H2 pressures of 1 and -1.8, ...

We use microdata collected at the border and store to characterize price impact of recent US trade policy on importers, exporters, consumers. At border, import tariff pass-through is much higher than exchange rate pass-through. Chinese exporters did not lower their dollar prices by much, despite appreciation dollar. By contrast, significantly lowered affected foreign retaliatory tariffs. In sto...

A central question in the analysis of fuel economy policy is whether consumers are myopic with regards to future costs. We provide first evidence on consumer valuation from a natural experiment that provides exogenous variation ratings. examine short-run equilibrium effects restatement ratings affected 1.6 million vehicles. Using implied changes willingness pay, we find act myopically: indiffer...

This paper describes three prototypical systems of therapeutic reference pricing (RP) for pharmaceuticals -Germany, the Netherlands, and New Zealand -and examines their effects on the availability of new drugs; manufacturer prices, reimbursement levels, and out-of-pocket surcharges to patients; and market shares of originator and generic products. The results differ across countries in predicta...

This paper examines whether it makes sense to consider Sutton’s “bounds” approach as a candidate theory for explaining the recent evolution of market structure in the biotechnology sector, and to speculate whether market structure will change if the industry begins to introduce second-generation GM products that are of more direct benefit to consumers. A key result is that the market structure ...

A durable-good monopolist sells its branded product over two periods. In period 2, when there is entry of a counterfeiter, the branded firm may charge a high price to signal its quality. Counterfeit competition thus enables the branded firm to commit to a high price in period 2, alleviating the classic time-inconsistency problem under a durable-good monopoly. This can increase the branded firm’...

In media markets, the value of advertisement exposure depends on circulation, and media consumers’ valuation is affected by advertising. This paper analyzes media market competition in a duopoly framework. There exist symmetric and asymmetric equilibria in terms of firm size. There is less scope for asymmetry when products are more differentiated or of higher intrinsic quality. Some media exhib...

This paper presents a two-country model in which consumers’ utility from tradable goods depends on their consumption of complementary goods and services. The model is consistent with the stylized fact that markups are higher in rich countries: In countries with more complementary goods and services consumer demand is less elastic, enabling monopolistically competitive firms to charge higher pri...