Larry S. Karp

When promoters like scalpers (2005)

Recent papers show that imperfect property rights to a natural resource – a sector-specific factor–can be a source of comparative advantage. In these models, weaker property rights attract...

Fishery management under multiple uncertainty (2005)

If a monopoly supplies a perishable good, such as tickets to a performance, and is unable to price discriminate within a period, the monopoly may benefit from the potential entry of resellers. If the...

Sethi, Gautam, Costello, Christopher, Fisher, Anthony C., Hanemann, William Michael, Karp, Larry S.

Among others who point to environmental variability and managerial uncertainty as causes of fishery collapse, Roughgarden and Smith (Proc. Natl. Acad. Sci. 93 (1996) 5078) argue that three sources of...

Welfare gains under tradable CO2 permits (2001)

Karp, Larry S., Liu, Xuemei Liu

Most environmentalists favor the reduction in CO2 emissions but oppose international trade in emissions permits. Although economic theory provides a strong case in favor of trade in permits, there is...

Estimating Coke and Pepsi's Price and Advertising Strategies (1999)

Amos Golan, Larry S. Karp, Jeffrey M. Perloff

A semi-parametric, information-based estimator is used to estimate strategies in prices and advertising for Coca-Cola and Pepsi-Cola. Separate strategies for each firm are estimated with and without...

Estimating Coke and Pepsi's Price and Advertising Strategies (1998)

Golan, Amos, Karp, Larry S., Perloff, Jeffrey M.

A semi-parametric, information-based estimator is used to estimate strategies in prices and advertising for Coca-Cola and Pepsi-Cola. Separate strategies for each firm are estimated with and without...

Estimating a Mixed Strategy: United and American Airlines (1998)

Golan, Amos, Karp, Larry S., Perloff, Jeffrey M.

We develop a generalized maximum entropy estimator that can estimate pure and mixed strategies subject to restrictions from game theory. This method avoids distributional assumptions and is...

Tarrif reform in the presence of sector specific distortions (1992)

Beghin, John, Karp, Larry S.

The problem of choosing second-best trade policies is modified by including sector-policies as well as tariffs. Formulae for the optimal tariff and sector-specific subsidy are derived and used to...

Estimation of price policies in Senegal An empirical test of cooperative game theory

Beghin, John C., Karp, Larry S.

Consistent tariffs with dynamic supply response

How Anti-merger Laws Can Reduce Investment, Help Producers, and Hurt Consumers.

Gatsios, Konstantine, Karp, Larry S

If capital lowers marginal cost and a firm with more capital gets a bigger share of the surplus in merger bargaining, then the equilibrium price with a merger may be lower than without a merger. If...

Dynamic Hedging with Uncertain Production.

Karp, Larry S

This paper provides a closed-form rule for dynamic hedging with production uncertainty. The rule is obtained by considering a discret e time control problem, in the limit, as the interval between...

The direction and timing of agricultural trade reform in Central and East Europe

Dynamic hedging with uncertain production

Agricultural policies; Commercial policy; Trade liberalization

Estimating a mixed strategy employing maximum entropy

Economics; Future trading; Mathematical models; Risk

Golan, Amos, Karp, Larry S., Perloff, Jeffrey M.

Airlines; Entropy; Game theory; Oligopoly

Estimating market structure and tax incidence : the Japanese television market

Helping by hurting : industrial policy as an alternative to trade policy

Demand elasticity; Marketing; Mathematical models; Price elasticity; Supply and demand; Taxation; Television

Limited cooperation in international environmental agreements

Commercial policy; Economic policy; International relations; Investments; Oligopoly; Taxation

Karp, Larry S., Sacheti, Sandeep

Environmental laws; Environmental policy; International relations

Methods for selecting the optimal dynamic hedge when production is stochastic

Karp, Larry S

Decision-making; Forecasting; Hedging; Risk

On the existence and optimality of competitive equilibria in nonrenewable resource industries

Fisher, Anthony C., Karp, Larry S.

Economics; Mathematical models; Production costs; Supply and demand

Polish agriculture in transition : does it hurt to be slapped by an invisible hand?

Stefanou, Spiro, Karp, Larry S.

Agricultural policies; Cooperatives; Monopolies

Risk aversion in a dynamic trading game

Karp, Larry S., Sioli, Lucy

Future trading; Game theory

Commercial policy; Game theory; Marketing; Tariff; Vertical integration

Adjustment costs and general equilibrium effects in transitional economies

Karp, Larry S., Paul, Thierry

Costs; Equilibrium (economics); Structural adjustment

Dynamic quotas with learning

Karp, Larry S., Costello, Christopher

Abatement cost; Benefit-cost analysis; Information theory; Pollution; Probabilities

Dynamics and limited cooperation in international environmental agreements

Karp, Larry S., Sacheti, Sandeep

Environmental aspects; Environmental policy; International relations

Fundamentals versus beliefs under almost common knowledge

How many cake-eaters? Chouette, on a du monde a diner!

Economic development; Equilibrium (economics); Game theory; Information theory; Labor mobility; Migration

Favard, Pascal, Karp, Larry S.

Labor mobility; Labor supply; Migration; Nonrenewable resources; Population

Learning-by-doing and the choice of technology : the role of patience

Karp, Larry S., Lee, In Ho

Economic development; Mathematical models; Technology transfer

A neoclassical view of trade liberalization

Nonpoint source pollution taxes and excessive tax burden

Agriculture; Farm products; Free trade; Marketing; Trade liberalization

Regulation of stock externalities with learning

Nonpoint source pollution; Pollution; Taxation

Karp, Larry S., Zhang, Jiangfeng

Abatement cost; Air pollution; Externalities; Information theory; Taxation

Taxes and quotas for a stock pollutant with multiplicative uncertainty

Hoel, Michael, Karp, Larry S.

Abatement cost; Air pollution; Global warming; Risk; Stochastic control; Taxation

Taxes versus quotas for a stock pollutant

Hoel, Michael, Karp, Larry S.

Pollution; Stochastic control; Taxation

Time-consistent policies

Karp, Larry S., Lee, In Ho

Economic policy; Economic theory; Expectations; Game theory; Production function; Taxation

Valuing tradeable CO2 permits for OECD countries

Karp, Larry S., Liu, Xuemei

Air pollution; Carbon dioxide; Environmental economics; Greenhouse effect

Welfare gains under tradeable CO2 permits

Karp, Larry S., Liu, Xuemei

Air pollution; Carbon dioxide; Greenhouse effect; Welfare economics

Tariff reform in the presence of sector-specific distortions

Beghin, John Christopher, Karp, Larry S.

Agricultural policies; CGE models; Commercial policy; Equilibrium (Economics); Farm products; Marketing; Tariff

Controlling a stock pollutant with endogenous investment and asymmetric information

Karp, Larry S., Zhang, Jiangfeng

Abatement cost; Air pollution; Equilibrium (economics); Expectations; Greenhouse effect; Investments; Risk; Taxation

Estimating Market Structure and Tax Incidence: The Japanese Television Market.

Monopoly Extraction of a Durable Non-renewable Resource: Failure of the Coase Conjecture.

A method of estimating market structure and tax incidence, when data are available for some firms and the total industry, is applied to the domestic Japanese television market. This market is shown...

Karp, Larry S

The author studies a perfect-information, rational expectations Markov equilibrium for the situation where a monopolist extracts a nonrenewable resource that is converted to a durable good. Even if...

Sales and Consumer Lock-In.

Gallini, Nancy, Karp, Larry S

This paper examines the dynamically consistent price path for a new product monopolist, unable to commit to future prices, when consumers must incur setup costs of adopting the product. The authors...

The endogenous stability of economic systems: The case of many agents

Strategic trade policies under instability

Bigman, David, Karp, Larry S.

Tariff Reform in the Presence of Sector-Specific Distortions.

John Beghin, Larry S. Karp

The problem of choosing second-best trade policies is modified by including sector-specific policies as well as tariffs. Formulae for the optimal tariff and sector-specific subsidy are derived and...

Industrial Policy as an Alternative to Trade Policy: Helping by Hurting.

A synthesis of agricultural trade economics

Industrial policies that are essentially nonlinear taxes or subsidies on adjustment costs of domestic firms affect those firms' market power in oligopolistic international markets. These adjustment...

Karp, Larry S., Perloff, Jeffrey M., B. L. Gardner, G. C. Rausser

Government intervention in agricultural sectors in both developed and developing countries has resulted in huge distortions in international markets. We describe the types of policies used in the...

Estimating Coke's and Pepsi's Price and Advertising Strategies.

Golan, Amos, Karp, Larry S, Perloff, Jeffrey M

A Semiparametric, information-based estimator is used to estimate strategies in prices and advertising for Coca-Cola and Pepsi-Cola. Separate strategies for each firm are estimated with and without...

Legal requirements that artists receive resale royalties

Karp, Larry S., Perloff, Jeffery M.

Open-loop and feedback models of dynamic oligopoly

Piecemeal trade reform in presence of producer-specific domestic subsidies

Beghin, John C., Karp, Larry S.

ESTIMATING FIRMS' MIXED PRICE AND ADVERTISING STRATEGIES: COKE AND PEPSI

Amos GOLAN, Larry S. KARP, Jeffrey M. PERLOFF

Generalized maximum entropy (GME) is used to estimate mixed strategies in prices and advertising for Coca-Cola and Pepsi-Cola. The strategies are estimated with and without restrictions from game...

ESTIMATING A MIXED STRATEGY EMPLOYING MAXIMUM ENTROPY

Amos GOLAN, Larry S. KARP, Jeffrey M. PERLOFF

Generalized maximum entropy may be used to estimate mixed strategies subject to restrictions from game theory. This method avoids distributional assumptions and is consistent and efficient. We use...

Why Industrial Policies Fail: Limited Commitment.

The Optimal Suppression of a Low-Cost Technology by a Durable-Good Monopoly

The strategic effects of subsidies on output and subsidies on investment differ substantially in dynamic models where a government's commitment ability is limited. Output subsidies remain effective...

Larry S. Karp, Jeffrey M. Perloff

If a durable-good monopoly can use either of two technologies whose properties are known to consumers, the monopoly uses only the technology with the lowest average cost at low levels of production....

Higher moments in the linear-quadratic-gaussian problem

The failure of strategic industrial policies due to manipulation by firms

Dynamic Oligopoly in the Rice Export Market.

Dynamic oligopoly : estimation and tests of market structure

A linear-quadratic dynamic oligopoly model is used to estimate the competitiveness of the rice export market. The model nests various market structures using either open-loop or feedback strategies....