This article measures the extent to which prices exceed marginal costs in the U.S. natural gas distribution market during the period 1991-2007. We find large departures from marginal cost pricing in all 50 states, with residential and commercial customers facing average markups of over 40%. Based on conservative estimates of the price elasticity of demand these distortions impose hundreds of mi...

We investigate equilibrium bidding in first-price auctions with asymmetric reserve prices. For example, the auctioneer may set a low reserve price for one subset of bidders and a high reserve price for others. When used to pursue a distributional objective, lowering the reserve price for some bidders channels benefits toward marginal agents in the favored group and does not adversely impact non...

The study was conducted to evaluate the toxicokinetic disposition and residue of Dimethyl phthalate (DMP) in tilapia at different water temperatures (18oC and 28oC) by RP-HPLC method. After oral administration of DMP with a single does of 20mg/kg body weight, the tilapia’s plasma, muscle, brain, skin and myocardium were sampled separately at different time to determine the concentration of DMP....

Deriving a model, where each family member is the producer of his own and other family members' health, shows that the family will not try to equalise marginal benefits and marginal costs of health capital for each family member. They will rather invest in health until the rate of marginal consumption benefits equals the rate of marginal net effective costs of health capital. The level of compe...

Mark J. Roberts and Dylan Supina Industrial Orgaruzation, Volume 9, pages 1-36. ~~pyright © 2000 by Elsevier Science Inc. ~u rights of reproduction in any form reserved. ISBN: 0-7623-0687-4 This chapter provides empirical evidence on the extent of producer heterogeneity in the output market by analyzing output price and price­ marginal cost markups at the plant level for thirteen homogeneous ma...

Immunofluorescence of frozen tissue sections (IF-F) is a classic technique for renal immunopathologic examination. However, it has certain disadvantages, such as diffuse antigen distribution and few or even no glomeruli in the section. We developed a new technique of immunofluorescence staining using dual microwave retrieval in paraffin-embedded renal tissue sections (IF-DMP) and compared IF-DM...

We establish the entry-deterring role of vertical contracts in a setting that does not rely on asymmetric information, the exclusivity of the incumbent’s contracts, limits on distribution channels, or restrictions on the ability to renegotiate contracts in case of entry. The optimal contract we describe is a three-part quantity discounting contract that involves the payment of an allowance to t...

We present a model of price leadership on homogeneous product markets where the price leader is selected endogenously. The price leader sets and guarantees a sales price to which followers can adjust according to their individual supply functions. The price leader then clears the market by serving the residual demand. Firms with different marginal costs would induce different prices if they wer...

We analyze the effect of price caps on equilibrium production and welfare in oligopoly under demand uncertainty. We find that high price caps always increase production and welfare as compared to the situation without price cap. Price caps close to marginal cost may lead to zero production, depending on the nature of uncertainty. We characterize the optimal price cap and show that typically, th...