Richard A. Gilbert

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We ask under what conditions transmission contracts increase or mitigate market power. We show that the allocation process of transmission rights is crucial. In an efficiently arbi-traged uniform price auction generators will only obtain contracts that mitigate their market power. However, if generators inherit transmission contracts or buy them in a(More)
From 1997 through 2003, the UN Oil for Food Program allowed Iraq to export oil for humanitarian supplies. We hypothesize that Iraq deliberately set the price of its oil below market prices to solicit bribes from oil buyers. By comparing the price gap between Iraqi oil and its close substitutes during the Program to the gap prior to the Program, we find(More)
and the University of Manitoba for valuable comments and discussions; Raymond and Lila Atkinson for their invaluable support during the data collection process; and Michaelle Tuz-Atkinson for collecting prices from the Internet. I am solely responsible for any errors or omissions. The views expressed in this paper are my own, and are not purported to be(More)
In Europe and in Japan, patent applications are publicly disclosed after 18 month from the filing date regardless of whether a patent has been or will be registered. In the U.S. in contrast, patent applications are publicly disclosed only when a patent is granted. In this paper we examine the consequences of this difference for (i) firm's R&D and patenting(More)
Decompression sickness (DCS) is the result of bubble formation in the body due to excessive/rapid reduction in the ambient pressure. Existing models relate the decompression stress either to the inert gas load or to the size of a single bubble in a tissue compartment. This paper presents a model that uses the gas exchange equations combined with bubble(More)
Electricity mergers pose distinctive challenges for competition policy-in market definition and for modelling price impacts in markets with no storage, inelastic short-run demand and transmission constraints. FERC's pivotal supply test for screening mergers is an improvement on market shares, but still potentially misleading. We counter-propose competitive(More)
0TH the Board of Governors of the Federal Reserve System (BOG) and the Federal Reserve Bank of St. Louis (St. Louis) publish series on the reserves of depository institutions that have similar descriptions. Each reserves series is adjusted both for the effects of reserve requirement changes and for seasonal influences.' Though these series have similar(More)
Spermatocytic seminoma (SS) is a rare entity, accounting for 2%-12% of all seminomas; amongst those, fewer than 10% are bilateral. These may occur synchronously or metachranously. We report here a case of bilateral SS in a 63-year-old patient, who initially presented with bilateral testicular masses. In our search of the literature, this represents the(More)
This paper shows that retailers may choose to offer products differentiated in quality, not to relax downstream competition, but to improve their buyer power in the negotiation with their supplier. We consider a simple vertical industry where two producers sell products differentiated in quality to two retailers who operate in separated markets. In the(More)
One of the innate qualities of all doctors is the desire to do what is best for the ailing patient. This quality then becomes an objective sought by all clinical physicians to improve medical standards as they tryto find better ways of delivering healthcare to their patients. Although incorporation of minimally invasive laparoscopic, robotic, and(More)