Dundee Discussion Papers in Economics 175:International trade and the incentive for merger

This paper examines the profitability of horizontal merger in an open economy. We find that duopoly is a necessary, but not sufficient,condition for domestic merger to be profitable. A cross-border merger, however,can be profitable from any market structure

Job search and null offers : an analysis of the causes and consequences of offer rationing in labour markets

This thesis examines the consequences and causes of offer rationing in labour markets characterised by job search. Offer rationing is incorporated by allowing for a probability that search is unsuccessful this being referred to as the 'Null Offer' probability. In the first instance the consequences of offer constraint for the job search decisions of individuals are examined. Results existing in the literature are reviewed and then extended to the case where individuals are allowed to learn about the degree of rationing that they face. Secondly the ways in which offer rationing may arise out of the profit maximising decisions of firms are considered. In the absence of an appropriate literature the first task is to specify an appropriate framework for analysis which is subsequently used to examine the factors that might affect the null offer probability. Finally the consequences for market equilibrium of the existence of offer rationing is examined. It is shown that the existence of null offers opens up the possibility of multiple equilibria entailing different unemployment rates and levels of social welfare