Marshallian consumer surplus (MCS) is generally an inaccurate measure of welfare change because it neglects income effects. Suppose these effects overturn the usual demand response to a price change. Then, the deadweight loss from a distortionary tax or subsidy has the wrong sign, that is, there is a spurious deadweight gain. JEL Classification: D11, D6.

Four semen traits: volume (VOL), concentration (CON), progressive motility of spermatozoa (MOT), and abnormal spermatozoa (ABN) provide complementary information on boar fertility. Assessment of the impact of selection for semen traits is hindered by limited information on economic parameters. Objectives of this study were to estimate economic values for semen traits and to evaluate the genetic...

In the theoretical literature, strong arguments have been provided in support of the efficiency defense in antitrust merger policy. One of the most often cited results is due to Williamson (1968) that shows how relatively small reduction in cost could offset the deadweight loss of a large price increase. Furthermore, Salant et al. (1983) demonstrate that (not for monopoly) mergers are unprofita...

This paper analyzes the delegation of contracting capacity in a moral hazard environment with sequential production in a project which involves a principal and two agents. The agent in charge of the final production can obtain soft information about the other agent’s effort choice by investing in monitoring. I investigate the circumstances under which it is optimal for the principal to use a ce...

Abstract Drawing on ABCKID, one of the world’s largest online education platforms, and its six competitors, this paper rethinks control consent work in platform economy. Falling into a new category home-based virtual ABCKID has mobilized group American contractors (e.g. stay-at-home moms) who were previously marginalized US labor market. Using interviews, surveys data, I found that most show hi...

Efficiency Gains from Mergers by Lars-Hendrik Röller, Johan Stennek and Frank Verboven The purpose of this discussion paper is to contribute to the analysis of two questions. Should a merger control system take into account efficiency gains from horizontal mergers, and balance these gains against the anti-competitive effects of mergers? If so, how should a system be designed to account for effi...