William W. Sharkey

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This paper considers the profit maximization problem of a firm that must make sunk investments in long-lived assets to produce output. It is shown that if per period accounting income is calculated by using a particular allocation rule for investment called the relative replacement cost (RRC) rule, that, in a broad range of plausible circumstances, the(More)
The ability of level I trauma units to operate efficiently may be hampered by the presence of a number of patients with an excessive length of stay (LOS). In an attempt to determine causes for and suggest potential solutions to the long-term occupation of beds in an acute care trauma facility, the cases of patients with extended LOSs in a level I trauma(More)
This paper is concerned with the merits of employing market forces to address the issues of wireless spectrum congestion and the allocation of spectrum between firms seeking licensed and unlicensed spectrum rights. We show that when unlicensed spectrum is assigned to all competing users during periods of excess demand an inefficient outcome related to the(More)
Cost allocation problems arise in many contexts in economics and management science. In a typical problem that we have in mind, a decision maker must decide how to allocate the joint cost of production among several commodities using prices. Furthermore, these prices must satisfy certain reasonable postulates among which is the requirement that total(More)
With competition in telecommunications markets a carrier relies on competing networks to complete inter-network calls originated by its customers. Regulators typically require the calling party's network to pay a termination fee to the called party's network equal to the terminating network's " incremental cost " of completing the call. The payments for(More)
This paper employs simulation methods to evaluate the ability of three different auction mechanisms to determine an efficient license regime for radio spectrum as well as the efficient ownership of the associated rights. The two regimes explored are “licensed” spectrum, in which a winning bidder maintains exclusive rights to use the spectrum,(More)