Advance price announcements and antitrust policy

This paper analyzes the competitive significance of advance price announcements. In the model, advance price announcements are used by firms to communicate private information on demand or cost. By so sharing the information, the firms are able to set their prices at more profitable levels. When the advance price announcements resolve demand uncertainty, profits rise and consumer surplus falls. Interestingly, when the advance price announcements resolve cost uncertainty, both profits and consumer welfare rise. Finally, we examine U.S. antitrust policy regarding price announcements.     

What future for the policy sciences?

The term “policy sciences” refers both to a distinctive tradition within the policy movement and to the broader policy movement itself. While the generic use of this term is sure to persist, the community of policy scientists trained in the tradition founded by Harold Lasswell and Myres S. McDougal faces challenges to its sustainability as a distinctive tradition of the policy movement. To motivate open discussion and debate, this essay follows the logic of a problem-oriented analysis, and also includes personal reflections and anecdote, with the following objectives: It suggests that the policy sciences tradition faces challenges to its sustainability because of the simple arithmetic of generational turnover in university faculty. It explores six factors internal and external to the policy sciences community militating against sustainability. The essay then critiques three different roles the policy scientist might play in contemporary academia, and concludes with a discussion of alternatives that might enhance the sustainability of the policy sciences tradition, should sustainability indeed be a desired outcome.     

An economic appraisal of urban housing assistance: rental supplments versus public housing

Abstract. The benefits and costs of rental supplements versus public housing are analysed in this study. The role of social assistance and public housing in improving housing standards of low income households is assessed. Housing standards for households with incomes below 3, 000 and the dollar return to private property owners renting to social assistance recipients are studied as two measures of effectiveness of the alternatives. Measures of housing standards for low income households are reviewed. It was concluded that, for welfare and non-welfare households, low income is the critical factor determining the existence of low quality housing. Data on target clientele reached by current housing programs are not available, so it is difficult to determine the effectiveness of such programs in improving housing standards of low income households. Various public and private costs critical to the assessment of housing assistance are discussed. In conclusion, it is pointed out that a simple benefit/cost analysis is inadequate for deciding on public housing versus rental supplements. Several additional studies are required, including: decisions on minimum levels of housing standards, comparison of other housing assistance progrm, and costs of all housing and nonhousing programs. Sommaire. Cette étude porte sur les coêts et les bénéfices d'une politique de subvention des loyers par opposition à une politique de logement public. Les auteurs évaluent le rôle que jouent l'assistance sociale et le logement public dans l'amélioration de l'habitation des économiquement faibles. Ils étudient la qualité de l'habitation des familles ayant un revenu inférieur à 3, 000 et la rentabilité des propriétés privées louées am assistés sociaux en tant que critères d'évaluation. Ils passent en revue les normes de qualité du logement des économiquement faibles. Ils concluent que c'est le faible revenu qui est la cause déterminante de la mauvaise qualité du logement peu importe que les familles dépendent ou non du bien-être social. Il n'existe pas de données concernant la clientèle profitant, à l'heure actuelle, des programmes de logement et il est donc difficile de déterminer la contribution de ces programmes à l'amélioration du logement des économiquement faibles. Les auteurs discutent des différents coûts, publics et privés, ui entrent dans l'évaluation d'une subvention au logement. Ils concluent en faisant remarquer qu'une simple analyse coûts/bénéfices est insuffisante pour choisir entre le logement public et le loyer subventionné. D'autres études seront donc nécessaires, plus particulièrement sur les normes minimales de logement, sur la comparaison àétablir avec d'autres programmes d'assistance au logement, et sur les coûts de tous les programmes de logement en comparaison avec les coûts des autres programmes.