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A three-player oligopoly model is devised to capture the competitive interaction between operators of the Hong Kong container terminals, the Hong Kong midstream and the Singapore container terminals in providing container handling services. The oligopoly model is then estimated statistically and thereby the structural parameters can be identified. The results of the estimation confirm a substitutability between the services supplied by operators of different types (terminal versus midstream) and different locations (Hong Kong versus Singapore). Moreover, the model proposed in this article generates forecasts of demand for Hong Kong's container handling services that are more accurate than those reported by the government authority, and suggests an earlier construction of new terminals to meet future demand.

W ith special reference to the banking industry, the objective of this study is to address managerial concerns over the impact of labor-saving technologies on efficiency in the use of human resources. A bank is viewed as a collection of human, technology, and capital resources. Labor-saving technologies are represented by two categories of technology resources-information technologies and patented in-house process innovations. The estimation of a stochastic frontier manpower-requirement function shows that, whereas information technology resources have a direct impact on efficiency in the use of human resources, in-house process innovations have an indirect impact through spillovers. The reduction in labor costs resulting from a more efficient use of human resources is more than enough to cover the required increase in information technology expenditures. This cost-reducing impact is stronger for firms currently employing a lower level of information technologies. The empirical findings also suggest a complementary relationship between information technologies and spillovers of in-house process innovations. The empirical framework proposed in this study can help decision makers determine the optimal input mix of technology and human resources.

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