We examine the interaction between trade in goods and market power in domestic trade and distribution sectors. Theory suggests a linkage between service-sector competition and goods trade, one supported by econometrics involving import patterns of 21 OECD countries. This points to significant linkages between effective market-access conditions for goods and the structure of the service sector. ...

This study documents the presence of local protectionism and quantifies its impacts on market competition social welfare in context China’s automobile market. A salient feature auto is that vehicle models by joint ventures state-owned enterprises command much higher shares their headquarter provinces than at national level. Through county border analysis, falsification tests, a consumer survey,...

As the title suggests, this paper compares two “formula” or mechanical investment techniques, dollar cost averaging and a relatively new proposal, value averaging, to a form of random investing to determine if any technique yields superior investment performance. Results indicate that value averaging does provide superior expected investment returns when investment prices are quite volatile and...

The mobile online medium (i.e. mobile data communication) allows the creation of context-sensitive profiles for mobile consumers by using identityand context information and thereby enabling the efficient targeting of current consumers' needs. However, current implementations of Mobile Marketing activities do not make use of these beneficial unique features and apply, for instance, content-base...

We separate the “rentier” portion of the budget constraint of the representative agent from the “income-plus-distributed profits” segment. The former’s wealth consists exclusively of returns on government bonds, the latter’s wealth is wage income from working for firms plus the distributed profits of the latter. The non-neoclassical element is the non-imposition of the market-clearing assumptio...

This paper investigates the intradaily operational efficiency of the U. S. foreign exchange market by conducting computer simulation experiments with market structure (the numbers of market—makers, brokers and customers). The results indicate significant operational inefficiencies which can be explained by temporary inventory imbalances inherent in a decentralized market. The results also sugge...