Abstracts

Economics

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New Labour, energy policy and 'competitive markets'

Article Abstract:

A survey of the documents on New Labour's energy policy is used to argue that the party failed to appreciate the extent to which their energy policy were inconsistent with a laissez faire policy regime and that the apparent success of energy market liberalisation during the previous regime was not mainly due to competition.The implications to the organizational structure of the UK energy supply industry from transaction cost economics are briefly examined.

Analysis, Evaluation, Labour Party (United Kingdom), Energy industries, Energy industry, Report

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An empirical analysis of entrant and incumbent bidding in road construction auctions

Article Abstract:

A comparison of bidding patterns for entrant and incumbent road construction contractors shows that incumbents do not bid as aggressively and with lower bids as do entrants. This finding supports an auction model in which an entrantEs cost distribution exhibits larger dispersion than an incumbentEs.

United States, Management dynamics, Management, Road construction industry, Company business management

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Tacit collusion in repeated auctions: uniform versus discriminatory

Article Abstract:

The author compares the conduct and level of collusion under discriminatory and uniform auctions and finds that discriminatory auctions do not facilitate collusion as much as uniform auctions. Recent reforms in the United Kingdom's electricity industry are used as an illustration.

Spain, Collusion

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