Conventional theory holds that moral hazard--the additional health care purchased as a result of becoming insured--is an opportunistic price response and is welfare-decreasing because the value of the additional health care purchased is less than its costs. The theory of the demand for health insurance presented here suggests that moral hazard is primarily an income transfer effect. In an estim...

In this paper I improve Gardner's surplus transformation curve framework by assuming that government is able to vary many policy instruments simultaneously instead of only one. I use my framework to find the combination of the currently used instruments which provides the most efficient income redistribution for the Austrian bread grains market. Contrasting the most efficient policy to the actu...

An investigation of commercial engines with finite capacity lowand high-price economic subsystems and a generalized commodity transfer law [ ( ) m n P ∝ Δ ] in commodity flow processes, in which effects of the price elasticities of supply and demand are introduced, is presented in this paper. Optimal cycle configurations of commercial engines for maximum profit are obtained by applying optimal ...

Background Achieving the goals set by Roll Back Malaria and the Government of Kenya for use of insecticide treated bednets (ITNs) will require that the private retail market for nets and insecticide treatments grow substantially. This paper applies some basic concepts of market structure and pricing to a set of recently-collected retail price data from Kenya in order to answer the question, “Ho...

This paper examines the competitiveness of winner-take-all price competition in homogeneous product oligopoly environments where underlying buyer demands and/or firms’ costs need not be continuous. Our analysis is motivated by the observation that a variety of economic settings have these features. For example, in 1996 an Ivy League university solicited bids from several vendors for its initiat...

According to static models of industrial organization, a rise in competition decreases prices. In this paper, I test whether this conclusion can be reversed in the mobile telecommunications markets where dynamic e ciency e ects might be signi cant. The empirical test relies on the change in the intensity of competition introduced by the entry of the fourth mobile operator in France and the merg...

By increasing the extraction of natural gas, its role in the restructured power systems is being expanded, due to its lower pollution. Iran has the second largest reserves of natural gas in the world and exports it to different countries. This paper represents long run analysis of natural gas export from Iran to Turkey as a case study, considering direct transfer and exporting via the power mar...

What is the impact of a bank failure on the whole banking industry? To resolve this issue, the paper develops a transfer entropy-based method to determine the interbank exposure matrix between banks. This method constructs the interbank market structure by calculating the transfer entropy matrix using bank stock price sequences. This paper also evaluates the stability of Chinese banking system ...

Waste transfer-stations play an important role in a community’s waste management system, serving as the link between a community’s solid waste collection program and a final waste disposal facility. This study aims to estimate economic values of externalities related to waste transfer-stations in Israel. Most externalities are associated with local disamenities experienced by residents living i...