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This outcome was correct. It is an ancient tenet of the law that disposing of ill-gotten gains in an admirable manner is no defense. (186) Robin Hood has no place [...]

ABSTRACT "Free " products have exploded in popularity along with widespread Internet adoption--but many of them are not truly free. Customers often trade their attention or personal information to access [...]

Abstract Private and societal costs have their origin in the classic and neo-classic era. The market, based on private costs, ignores externalities, while actors fail to gain access to information [...]

I INTRODUCTION The prohibition against misuse of market power in s 46(1) of the Competition and Consumer Act 2010 (Cth) ('CCA') (and its identical predecessor in the Trade Practices Act [...]

The abuse of market power is a potentially serious problem for market designers. Few indices, if any, exist to measure the potential for market power in real time. In this regard, Murillo-Sanchez et al. derived an expression for a dispatch-to-price sensitivity matrix, M. The expression requires information about network topology and parameters, as well as the rules used to operate the market. While computing the matrix is conceptually easy for those with all the market and system information, such as an independent system operator, the method is probably impractical for market participants due to the inaccessibility of much of the information. In this paper, a method for estimating the M matrix by using publically available data are suggested, indicating that any market participant who does the computation will know when conditions permit them to lower or raise prices through decreased/increased bids and/or offers. DOI: 10.1061/(ASCE)EY.1943-7897.0000019 CE Database subject headings: Electric power; Pricing; Electric transmission; Sensitivity analysis; Matrix methods; Computation. Author keywords: Dispatch sensitivity matrix; Market power; Null space; Kuhn-Tucker optimality conditions; Power transfer distribution factor (PTDF) matrix.

A survey of dentists in metropolitan areas finds that a dental insurance carrier's market power is directly related to the size of fee discounts. This affects dentist's earnings and could lower the number of dentists in these communities as dentists seek improved practice conditions elsewhere.

A study is conducted to analyze the market potential of stationary fuel cells, as the demand for sustainable energy supply is increasing in Germany.

Byline: Linda A. Toolsema (1) Keywords: banks; monetary policy; market power; spatial competition Abstract: Applying a spatial competition model to banking, we analyze the effects of the choice of a monetary policy rule by the central bank on banks' market power as measured by the Lerner index. We show that a procyclical monetary policy may reinforce the countercyclical movement of the Lerner index. That is, this measure of competitiveness of the banking sector may vary more over the business cycle due to the monetary policy rule. Author Affiliation: (1) Department of Economics, University of Groningen, 800, 9700, AV Groningen, The Netherlands Article History: Registration Date: 01/01/2003 Received Date: 09/04/2003 Online Date: 02/08/2004 Article note: JEL classification: G21, E52, L13. Acknowledgements The author thanks Hans Degryse, Hans van Ees, Marco Haan, Eko Riyanto, Bert Schoonbeek, Elmer Sterken, three anonymous referees, and participants of the EARIE 2001 conference (Dublin), the NAKE Day 2002 (Amsterdam), and a seminar at Ghent University for their constructive comments. revised version received November 11, 2003

Byline: Donald L. Alexander (1), Paul D. Thistle (1) Keywords: Market power; CAPM; concentration; efficiency; entry barriers; systematic risk Abstract: A number of studies have used the Capital Asset Pricing Model (CAPM) to integrate product market and financial theories of the firm. We reexamine the relationship between product market structure and systematic risk at the firm and industry level. We show that theory yields no testable implications at the firm level. We show, however, that there is a relationship between the intraindustry dispersion of systematic risk and industry concentration which depends on the causes and consequences of concentration. Estimates of the relationship between the intraindustry variance of [beta] and concentration for a 1987 cross-section of U.S. industries suggest that concentration allows larger firms to exercise market power. Author Affiliation: (1) Department of Economics, Western Michigan University, 1201 Oliver St., Kalamazoo, MI, 49008 Article History: Registration Date: 15/10/2004

Byline: James F. Nieberding (1) Keywords: Dumping; antidumping law; market power; protectionism Abstract: An empirical version of the Lerner index is used to investigate the market power effects of U.S. firms seeking protection under current antidumping law. The market power consequences are examined for each of the three possible resolutions of an antidumping investigation: petition for relief accepted (and duties levied), petition rejected, or petition withdrawn. For each outcome an industry case study is presented and the market power analysis conducted. The results contained herein support the hypothesis that U.S. firms receiving protection enhance their domestic market power, while firms having their petition rejected experience a decrease in market power. The evidence is less clear for plaintiffs who withdraw their antidumping petition prior to its final resolution. Author Affiliation: (1) Dept. of Economics, Cleveland State University, E. 24th &amp Euclid Ave., Cleveland, OH, 44115, U.S.A Article History: Registration Date: 15/10/2004

Byline: Adesoji Adelaja (1), Julia Menzo (1), Bonnie McCay (2) Keywords: Bertrand pricing model; share concentration; market power; Gini coefficients; fisheries Abstract: Individual Transferable Quotas (ITQs) wereintroduced into the Mid-Atlantic Surf Clam and OceanQuahog fishery to reduce over-capitalization whileconserving clam populations. Because the number ofoperators in the fishery declined drastically sincethe introduction of this policy, there is concernabout its effect on competitiveness. This paperutilizes Bertrand Pricing Models to show thatmonopoly power is absent from the surf clam andocean quahog markets. Concentration ratios, Lorenzcurves and Gini Coefficients estimated for thefishery for periods before and after ITQintroduction support the results of the Bertrand model. Author Affiliation: (1) Department of Agricultural Economics and Marketing, Rutgers University, USA (2) Department of Human Ecology, Rutgers University, USA Article History: Registration Date: 06/10/2004

Byline: Matthew J. Hergott (1) Keywords: Merger; airlines; events study; market power Abstract: This paper presents independent confirmation of the results obtained in recent studies that suggest mergers and acquisitions creating airline dominance at the airport level lead to market power. Using a different methodology -- an events study for the 1986 merger of Northwest Orient Airlines and Republic Airlines -- this paper confirms those results, indicating that concentration in the context of the sunk costs associated with the operation at a particular airport facility allows market power in the airline industry. Author Affiliation: (1) The Fuqua School of Business, Duke University, Towerview Drive, Durham, Nc, 27708, U.S.A Article History: Registration Date: 29/09/2004

Byline: Christopher R. Knittel (1) Keywords: Market power; search costs; switching costs Abstract: A number of authors have argued that the divestiture of AT &amp T did not reduce the rates of long distance telephone companies as often believed. However, the literature has offered few explanations as to why competition has not lowered rates. This study argues that rates have failed to fall due to the importance of search and switching costs in the industry. Using a panel data set of rates for the three largest long distance carriers, stretching from 1984 to 1993, a reduced form equation is specified to empirically test for the influence of search and switching costs on the price cost margin of the three carriers. The results illustrate that both search and switching costs have provided long distance carriers with market power. Author Affiliation: (1) Department of Economics, University of California, Berkeley, CA, U.S.A (2) 2539 Channing Way, Berkeley, CA, 94720, U.S.A Article History: Registration Date: 29/09/2004

Byline: Constantine A. Bourlakis (1) Keywords: Competitive environment; market power; persistence of profits; concentration; Greek manufacturing industries Abstract: In the present paper I examine Brozen's (1970, 1971a, b, c, 1982) Competitive Environment Hypothesis and Mueller's (1977) Persistence of Profits Hypothesis in the Greek manufacturing industries between 1958 and 1984. The analysis reveals a positive (market power) association between past and current price-cost margins, although a considerable scrambling in the ranks of price-cost margins takes place over time. A high concentration and high barriers to entry sub-sample of markets examined, showed a general reduction in concentration, barriers to entry and a mobility in price-cost margins ranks, indicating that disciplinary competitive forces are also at work within manufacturing markets. Author Affiliation: (1) Leicester University Management Centre, University Road, Leicester, LE1 7RH, U.K Article History: Registration Date: 29/09/2004

Evidence of market power in local rural farmland markets is found through the use of the hedonic price model. However, no evidence of market power was found in urban farmland markets and that speculation is the main driver for this market.

JEL Classification C90 * DOO * N10 In this research we analyze the unilateral market power on the demand side in the Italian wholesale electricity market. In this market there [...]