Alcoa: The Influence of Recycling on Monopoly Power
通过三个模型估算，发现回收的“促进竞争”效应很大程度上被原生铝生产因预期未来转化为再生铝而减少所抵消，从而支持了汉德法官关于美国铝业垄断原生铝市场间接控制再生铝生产的判决。
Puzzle 1: Was Judge Hand correct in his celebrated judicial opinion that Alcoa's monopoly in "virgin" aluminum provided indirect control over "secondary" production? Answer: Estimates based on three models suggest that the "procompetitive" effect of recycling was largely offset by a reduction in virgin production in anticipation of future conversion into secondary. Thus, Hand's judgment appears sound. Puzzle 2: Is it in Alcoa's own interests to suppress recycling of scrap aluminum if feasible? Answer: If current users show that they value the future use of the product by selling scrap to merchants, then Alcoa is likely to value the recycling market also. If users discard scrap which is subsequently scavenged, then Alcoa is likely to be harmed by such activity.