Allen and Hellwig (A-H hereafter) (1984a) show for a market where firms compete in prices with capacity constraints that as the number of firms increases, Nash equilibria (in pure or mixed strategies) converge in distribution to a (perfectly) competitive price, but monopoly prices persist for any number of firms. In other words, the supports of the equilibrium mixed strategies do not necessaril...

Rationing is an inventory policy that allows prioritization for different demand classes. This prioritization results in a different service level for each demand class. The mechanism through which the rationing policy is implemented is to stop serving lower priority classes when the inventory on hand drops below a certain critical level. Under this level, only higher priority classes are serve...

The controversy over whether investment-cash flow sensitivity is a good indicator of financing constraints is still unresolved. We tackle it from several different angles and cross-validate our analysis with both balance sheet and qualitative data on self-declared credit rationing and financing constraints. Our qualitative information shows that (self-declared) credit rationing is (weakly) rela...

Background: It is difficult to provide health care services to all those in need of such services due to limited resources and unlimited demands. Thus, priority setting and rationing have to be applied. This study aimed at critically examining the concept of rationing in health sector and identifying its purposes, influencing factors, mechanisms, and outcomes. Methods: The critical interpretive...

The costs of shortages and rationing are not captured by standard consumer price indices. In this study, virtual prices for the rationed goods are used to calculate a new cost-of-living index (CLI). The results for Poland show that from 1987 to 1992 the CLI that ignores the rationing effects is biased upward from 3.6 to 6.99 percentage points per year. Compared to the welfare loss calculated by...

The purpose of this paper is to discuss the role of rationing in medical education. Medical education is expensive and there is a limit to that which governments, funders or individuals can spend on it. Rationing involves the allocation of resources that are limited. This paper discussed the pros and cons of the application of rationing to medical education and the different forms of rationing ...

The costs of shortages and rationing are not captured by standard consumer price indices. Thus the change in real GDP per capita is an overestimate of welfare losses in transition economies. In this study virtual prices are used to calculate new cost-of-living indices (CLIs). The results for Poland show that from 1987 to 1992 the CLI ignoring the rationing effects is biased upward from 1.53 to ...