PRICING STRATEGY UNDER MONOPOLY CONDITIONS: AN EXPERIMENT FOR THE CLASSROOM

This classroom experiment allows students to explore pricing strategies available to the monopolist. Students are given full information about their costs but know nothing about demand except that it is simulated by the instructor. They submit their price-asked and quantity-offered records on one day and receive the quantity-sold response from the instructor on the next day, continuing this routine until they discover the profit-maximizing price and quantity. One of the objectives is to demonstrate that search strategies based on economic principles (MC=MR) can be more efficient than trial-and-error.Experimental economics, Games, Monopolistic, Teaching, Demand and Price Analysis, Teaching/Communication/Extension/Profession,

Appropriating the Returns from Industrial Research and Development

macroeconomics, industrial research and development, patent law

Applying Organizational Routines in understanding organizational change

Organizational routines are considered basic components of organizational behavior and repositories of Organizational capabilities (Nelson and Winter, 1982). They do, therefore, hold one of the keys to understanding organizational change. We identify problems encountered in such research and present proposal for how to deal with them, in order to advance our knowledge of routines and our understanding or organizational change. Developing these themes, we also introduce the articles in the special section 'Towards an Operationalization of the Routines concept'.

Genetically Modified Crops, an Input Distance Function Approach

Our initial findings indicate that GM crops do not contribute to the decline of traditional family farms. We make a significant methodological impact by using the within transformation to remove unobserved individual effects and demonstrate that the within transformation results in ML estimates that are identical to OLS estimates.Production Economics, Genetically Modified Crops, Distance Function, Stochastic Frontier Analysis, Production Economics, Research Methods/ Statistical Methods,

A Risk Analysis of Carbon Sequestration in Claypan Soil with Conservation Tillage Systems and Nitrogen Fertilizers for Grain Sorghum and Soybean

Replaced with revised version of paper 02/15/06.carbon sequestration, carbon credits, nitrogen, risk, tillage, Crop Production/Industries, Risk and Uncertainty, Q12,

AN ECONOMIC AND RISK ANALYSIS OF THE EFFECTS OF TILLAGE AND NITROGEN SOURCE ON SOIL CARBON SEQUESTRATION IN CORN PRODUCTION

The economic potential of no-tillage versus conventional tillage to sequester soil carbon using either commercial nitrogen or manure for continuous corn production is evaluated. Results indicate which system provides the highest net returns, which system is preferred by risk averse decision makers, and the price of carbon credits under alternative risk aversion preferences.Risk and Uncertainty,

An Economic Analysis of Carbon Sequestration for Wheat and Grain Sorghum Production in Kansas

This study examined the economic potential with and without carbon credit payments of two crop and tillage systems in South Central Kansas that could reduce carbon dioxide emissions and sequester carbon in the soil. Experiment station cropping practices, yield data, and soil carbon data for continuously cropped wheat and grain sorghum produced with conventional tillage and no-tillage from1986 to 1995 were used to determine soil carbon changes and to develop enterprise budgets to determine expected net returns for a typical dryland farm in South Central Kansas. No-till had lower net returns because of lower yields and higher overall costs. Both crops produced under no-till had higher annual soil C gains than under conventional tillage. Carbon credit payments may be critical to induce farm managers to use cropping practices, such as no-till, that sequester soil carbon. The carbon credit payments needed will be highly dependent on cropping system production costs, especially herbicide costs, which substitute for tillage as a means of weed control. The C values estimated in this study that would provide an incentive to adopt no-tillage range from $0 to$95.991ton/year, depending upon the assumption about herbicide costs. In addition, if producers were compensated for other environmental benefits associated with no-till, carbon credits could be reduced.carbon credit value, carbon sequestration, grain sorghum, no-tillage, wheat, Crop Production/Industries,

Derived Carbon Credit Values for Carbon Sequestration: Do CO2 Emissions From Production Inputs Matter?

Environmental Economics and Policy,