ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01748.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

This paper tests a prediction of the interest‐group theory of regulation which suggests that regulators generally will not force any one group to bear the full adjustment costs associated with variations in the business cycle. That is, the interest‐group model predicts that regulatory agencies will redistribute cyclical gains and losses by supplying more “producer protection” regulation during contractions and more “consumer protection” regulation during expansions;i.e.,regulatory activity which reduces consumer welfare will tend to be countercyclical, intensifying when aggregate demand falls and abating as demand increases.The empirical results show a countercyclical and statistically significantceteris paribusrelationship between Federal Trade Commission enforcement efforts under the Robinson‐Patman Act and several alternative measures of general business conditions. Since the Robinson‐Patman Act is viewed widely as anti‐consumer, the findings suggest that in cyclical downturns the Commission moves to protect producers against losses by bringing more cases which limit the tendency for prices to fall. This result may be rationalized under the view that during recessions, the Federal Trade Commission is in the business of transferring wealth from consumers either to protect small business or to bolster cartels. On the other hand, during business expansions the Commission reduces its Robinson‐Patman case load, and such a change in enforcement may serve to mitigate producer gains, transferring wealth to consumers at the margin. In any case the paper offers empirical support for the interest‐group model by providing evidence that the business cycle plays an important part in explaining the level and pattern o

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01749.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

This study compares the performance of three ownership forms of hospitals: for profit, private nonprofit, and public, further classified according to whether or not the hospital is run by a hospital chain. Data come from a 1979 national survey of U.S. hospitals. The authors find that hospital cost is quite similar among alternative ownership forms as is profitability. The results do not provide much empirical support for standard property rights theory. Several reasons are suggested why this may be so.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01750.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

Since 1966 a USD A marketing order has governed the sales volume of domestic hop growers. Despite offering cartel‐like advantages, a hop marketing order proposal was defeated in a 1965 referendum of growers. Using individual grower votes from this referendum this paper identifies the sources of opposition to the 1965 marketing order. The analysis proceeds to examine the types of recontracting that transpired enabling the adoption of a revised proposal in 196

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01751.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

The traditional theory of exchange implicitly assumes instantaneous exchange at the contractually determined price. However, actual exchange may entail payment before or after supply as well as determination of effective price ex ante or ex post of supply. The paper demonstrates that the market determination of price timing arises in conjunction with the resolution of mutual uncertainty among buyers and sellers concerning product quality and product cost. The conditions are identified under which ex post pricing will result rather than the more traditional ex ante pricing. The theory accounts for the simultaneous use of ex post and ex ante pricing in a single market. Legal service pricing is used to illustrate the theoretical principles derived in the paper.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01752.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

This paper postulates the existence of an “employment insurance contract” in which firms insure the employment of workers, at a predetermined wage, against potential, age related declines in productivity. To limit its liability the firm establishes an age limit to its promise ––– the mandatory retirement age. It is demonstrated that Pareto‐efficient contracts exist which involve mandatory retirement at a specific age. The existence of these contracts, including mandatory retirement, increases workers' life‐time utility and encourages the accumulation of human capital. Empirical results are consistent with the predictions

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01753.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

Observed Nielsen ratings for college football games show a decreasing trend in the number of viewers in recent years. As the market for these telecasts becomes more competitive, both buyers and sellers should adjust rights fees for quality differences. A model of full income allocation is proposed to isolate pure quality changes from true changes. Using a sample of weekly national collegiate telecasts theoptimum optimorumis determined from the set of generalized Box‐Cox forms. Regional data provide an application of the model. Quality and hedonic indexes show not only a deterioration in quality over time but also a downward trend in demand for quality‐adjusted units. Implications for alternative television policies are discus

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01754.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

Puzzling results of a positive association between the number of physiciansper capitaand the level of fees for physician services have been reported in the literature. These results may be due to misspecification of econometric models and use of data aggregated across medical specialties. It is hypothesized that the unusual results would not persist with a carefully specified econometric model for a single medical specialty. A general model of pricing and location of physician's services is applied to the market for psychiatrist's services. The results imply that the market for psychiatrist's services operates in a manner consistent with the predictions of the competitive model.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01755.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

This paper analyzes the determinants of the geographic dispersion of unemployment rates. The model presented here recognizes that structural labor market relationships differ across areas and that area unemployment rates and some of the explanatory variables are determined simultaneously. Most importantly, the methodology introduced here provides an estimate of the impact of each of the explanatory variables on the overall dispersion of unemployment rates, allowing comparison of several competing hypotheses that purport to explain why areas differ so widely in terms of their unemployment rates. The empirical results indicate that inter‐area differences in product market demand and in sensitivity to changes in conditions in the product market are the most important factors accounting for geographic differences in unemployment rates. More generally, the results indicate that unemployment rates differ widely across areas not so much because areas differ in terms of the underlying characteristics that determine unemployment rates but because areas are so heterogeneous with respect to labor market structur

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01756.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

The issue of non‐pecuniary benefits in commercial fishing is examined using data from the Alaska salmon fisheries, which are subject to entry limitations. It is concluded that, while limited entry permit prices reflect primarily pecuniary factors, the continued presence of many low‐revenue fishermen in the fisheries suggests that they, at least, derive non‐money benefits. However, the existence of non‐pecuniary benefits does not appear to depend substantially on the gear type or geography of the

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1985.tb01757.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY