The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that this prediction is broadly consistent with the behavior of 9 Philadelphia gasoline wholesalers. We nevertheless reject the menu-cost model as a literal des...

We consider how to design network cost-sharing protocols to induce benign selfish behavior in large networks. We study this issue in network cost-sharing games, where the set of Nash equilibria depends fundamentally on the choice of the underlying edge cost-sharing protocols. We seek cost-sharing protocols that minimize the inefficiency of equilibria in the resulting network design game, as mea...

this study analyzed the performance of cabbage marketing in abia state, nigeria. specifically the study sought to: describe socio-economic characteristics of cabbage marketers; identify marketing channels of cabbage; determine marketing cost components of cabbage marketers; determine marketing margins, market share and marketing efficiency of cabbage marketers; and determine socio-economic fact...

According to “Hotelling rule” price of an “exhaustible resource” exceeds its marginal cost of production in perfect competition equilibrium by amount equal to the opportunity cost of depleting the resource now rather than next periods. This cost is called “scarcity rent”. Oil price exceeds its marginal extraction costs significantly. This can be attributed two different sources: effect of scarc...

INTRODUCTION We examined the cost-effectiveness of a rotavirus immunization program in Kyrgyzstan, a country eligible for vaccine funding from the GAVI Alliance. METHODS We estimated the burden of rotavirus disease and its economic consequences by using national and international data. A cost-effectiveness analysis was conducted from government and societal perspectives, along with a range of...

Westudy a dual-channel supply chain under decentralized setting in which manufacturer sells to retailer and to customers directly usingan online channel. A customer chooses the purchase-channel based on price and service quality. Also, to buy product from the retail store, the customer incurs a transportation cost influenced by the fluctuating gasoline cost. Both companies are under the revenue...

This paper characterizes collusive pricing patterns when buyers may detect the presence of a cartel. Buyers are assumed to become suspicious when observed prices are anomalous. We find that the cartel price path is comprised of two phases. During the transitional phase, price is generally rising and relatively unresponsive to cost shocks. During the stationary phase, price responds to cost but ...

We study a competitive supply marketplace where multiple suppliers offer a single nondifferentiated product to multiple buyers. Within this multi-supplier, multi-buyer marketplace, each buyer chooses the supply partner that serves the buyer’s order profile, described by his order size and delivery frequency, with the best price. Suppliers differ from each other in terms of their logistic cost s...

predicting the maintenance and management costs and replacement age of tractors in agricultural mechanized units, is important from several points. so, doing a timely agricultural operations, more accurate measure of the amount of income  including the cost of these items , determining the useful life of old tractors , replacement age, cost of the process changes and the possibility of examinin...

This paper sets up a model, where multinationals compete in quantities and domestic firms form a competitive fringe. Within this framework, we analyse the relationship between market concentration, international outsourcing and the industry price-cost margin. The empirical results of a panel of 66 industries and the EU12 countries in the 1990s strongly confirm our theoretical hypotheses. Market...