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Registros recuperados: 8
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Competition and Car Longevity AgEcon
Hamilton, Bruce W.; MacAuley, Molly K..
We examine determinants of the nearly 30 percent increase in the average age of domestically produced, registered automobiles since the mid-1960s. We find that very little of the increase in car longevity is attributable to improvements in the inherent durability of cars. Rather, we find that the temporal pattern of longevity improvement is highly correlated with the level of market concentration in the auto industry. In particular, we argue that the arrival of competition in the industry led to an increase in longevity largely by forcing a reduction in the price of auto maintenance and repair, which in turn induced consumers to maintain their cars into older age.
Tipo: Working or Discussion Paper Palavras-chave: Market concentration; Automobile industry; Scrappage models; Public Economics; L1; L9.
Ano: 1998 URL: http://purl.umn.edu/10581
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TRANSPORTING THE EXPORT-BOUND GRAIN BY RAIL: A STUDY OF MARKET INTEGRATION AgEcon
Miljkovic, Dragan.
This study addresses the issues of market integration in railroad industry analyzing the export-bound grain transportation. A spatial analysis involving four origin states (Illinois, Iowa, Minnesota and Nebraska) and two destinations (Mexican Gulf and Pacific Northwest) is conducted in order to determine if pricing practices by the same or different railroads in different regions are consistent. A system of structural equations is estimated and dynamic regression tests are conducted because of the dynamic nature of interregional trade and arbitrage activities. The results indicate that grain transportation market by rail is not perfectly integrated. This is primarily due to numerous mergers and combining of railroads that took place during the last twenty...
Tipo: Working or Discussion Paper Palavras-chave: Grain transportation; Market integration; Railroad industry; International Relations/Trade; D4; L1; L9.
Ano: 1999 URL: http://purl.umn.edu/29236
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Infrastructure in developing countries: An overview of some economic issues AgEcon
Dethier, Jean-Jacques; Moore, Alexander.
This paper surveys the main issues and controversies in the economic literature on infrastructure in developing countries. Section I reviews the evidence on the role of infrastructure in promoting economic growth. It is argued that, although infrastructure may be more important for growth than other types of capital, the exact size and form of its effect is less clear than is often assumed. Section II looks at the issue of infrastructure “needs”, estimates of which are pervasive in both the academic and policy literature. It is argued that the preoccupation with such estimates is largely misplaced. More crucial is to develop systems of infrastructure enabling competition through an appropriate market structure. Therefore, section III reviews the economic...
Tipo: Working Paper Palavras-chave: Infrastructure; Developing Countries; Economic Growth; Regulation; Community/Rural/Urban Development; Institutional and Behavioral Economics; L9; L16; O16; O2.
Ano: 2012 URL: http://purl.umn.edu/123305
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Pay-At-The-Pump (PATP) Auto Insurance: Criticisms and Proposed Modifications AgEcon
Khazzoom, J. Daniel.
In 1998 the U.S. Environmental Protection Agency sponsored an effort to examine the criticisms and concerns expressed about Pay-at-the-Pump (PATP) auto insurance and explore the reformulation of PATP, taking into account these concerns. This paper provides a brief exposition of PATP and its main advantages followed by a review of its criticisms and concerns. We outline a reconstituted PATP proposal emerging from the review of these criticisms: a hybrid system that merges the best features from PATP and the existing insurance system. It retains what is consistent with the free market operation and market incentive in the existing system. At the same time it restores the price signal, the sine qua non for economic efficiency, where it has been extinguished...
Tipo: Working or Discussion Paper Palavras-chave: Pay at the pump; Distance-based insurance; Efficient pricing of auto insurance; Conversion of fixed to variable cost; Loss on insuring the uninsured motorist; Pay at the pump and the poor; Environmental benefit of pay at the pump; Vehicle fuel-efficiency and safety; Vehicle miles traveled; Traffic density; Accident risk; Public Economics; L1; L5; L8; L9; M2; Q2; Q4; R4.
Ano: 2000 URL: http://purl.umn.edu/10811
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Pay-At-The-Pump Auto Insurance AgEcon
Khazzoom, J. Daniel.
PAY-AT-THE-PUMP is a proposal to replace the current insurance system of lump sum payments for automobile insurance by a mechanism whereby motorists pay for their insurance as they buy fuel for their vehicles. PAY-AT-THE-PUMP has several advantages. It reduces insurance cost and cross subsidies and enhances equity. It also benefits the environment, safety, balance of payments, and security. In this paper we study limited but very important issues in the theory and implementation of PAY-AT-THE-PUMP insurance. We address issues of efficiency, subsidy, equity, externalities, safety, insurance cost and cost of insuring the uninsured motorist under a PAY-AT-THE- PUMP regime. We use the insurance industry's criticisms of mandatory auto insurance as a lens...
Tipo: Working or Discussion Paper Palavras-chave: Converting fixed to variable cost; Efficient pricing of auto insurance; Environmental benefit of Pay-at-the-Pump; Exposure risk; Insurance cost; Insurance externalities; Mandatory insurance; Safety; Uninsured motorist; Universal auto insurance; Risk and Uncertainty; L2; L9; M2; Q2; Q4; R4.
Ano: 2000 URL: http://purl.umn.edu/10906
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Evaluating the Competitive Effects of the Commodity Groups Originated by Class I Railroads in the United States AgEcon
Allen, Albert J.; Myles, Albert E.; Shaik, Saleem; Yeboah, Osei-Agyeman.
Dynamic shift-share analysis reveals that national growth effects were positive while industrial mix, competitive, and allocation effects were negative. Results also show the time(technology) variable were significantly and positively related to the competitive effects for coal, chemical products, food products, nonmetallic products, petroleum products, metallic ores, and other products.
Tipo: Conference Paper or Presentation Palavras-chave: Dynamic shift-share; Competitive effects; Commodity Groups; Class I railroads; Agribusiness; Industrial Organization; L1; L9; L92.
Ano: 2010 URL: http://purl.umn.edu/56409
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What We Know About Uninsured Motorists and How Well We Know What We Know AgEcon
Khazzoom, J. Daniel.
The problem posed by the uninsured motorist is of concern to the general public, policyholders, insurance companies, insurance regulators, and legislators. What is striking, however, is the fragmentary nature of the information that is available and the fact that it is scattered over so many sources. Even more striking is the fact that those sources often provide conflicting estimates, and the methods used in deriving those estimates are either never spelled out or, if they are, their reliability is unknown. In view of the general concern with the problem of uninsured motorists, this paper attempts to present an overview of what we know about the uninsured motorists and how well we know what we know through the following measures: clarifying the subtleties...
Tipo: Working or Discussion Paper Palavras-chave: Converting fixed to variable cost; Efficient pricing of auto insurance; Environmental benefit of Pay-at-the-Pump; Uninsured motorists/vehicles; Universal auto insurance; Pay-at-the-Pump insurance; Risk and Uncertainty; K4; L9; Q2; R4.
Ano: 2000 URL: http://purl.umn.edu/10533
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THE PROVISION OF RAIL SERVICE: THE IMPACT OF COMPETITION AgEcon
Fulton, Murray E.; Gray, Richard S..
Grain transportation is one of the most important economic issues for grain producers in the Northern Plains. The reliance on export markets and the long distances to port position means that transportation costs have a significant effect on the price received by farmers. In the prairie region of Canada, rail transportation is undergoing a major transformation that will affect the competitive positions of agriculture in both the United States and Canada and influence the direction of grain flows between the two countries. Rail rates are no longer legislated although a cap is still in place), restrictions on branch line abandonment have been lifted, and further deregulation of price and car allocation is being considered. Some parties, including the...
Tipo: Working or Discussion Paper Palavras-chave: Barriers to entry; Competition; Grain handling; Grain transportation; Monopoly; Railroads; Regulation; Public Economics; K2; L1; L9; L5.
Ano: 1998 URL: http://purl.umn.edu/29164
Registros recuperados: 8
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