We study how entry and exit decisions of a monopolist are affected by business cycle conditions. We model the business cycle as a two-state Markov process, and assume that the demand curve faced by the monopolist evolves differently in the two states of the economy. We explore conditions under...

We study how entry and exit decisions of a monopolist are affected by business cycle conditions. We model the business cycle as a two-state Markov process, and assume that the demand curve faced by the monopolist evolves differently in the two states of the economy. We explore conditions under...

We study how entry and exit decisions of a monopolist are affected by business cycle conditions. We model the business cycle as a two-state Markov process, and assume that the demand curve faced by the monopolist evolves differently in the two states of the economy. We explore conditions under...

We show that Barberá and Sonnenschein’s (1978) power function becomes additive if we replace the Paretian condition by nonimposition and monotonicity. Since these conditions are very much in the spirit of Arrow (1951), our result sharpens the analogy to Arrow’s theorem. Copyright...

We derive the conditions that sign the effects of changing population composition on wage levels and ratios, when labor supply and discrimination preferences vary. The overall effect depends on an aggregate market, a relative market, and a preference distribution effect.

This paper replacesGibbard’s (Econometrica 45:665-681, <CitationRef CitationID="CR10">1977</CitationRef>) assumption of strict ordinal preferences by themore natural assumption of cardinal preferences on the set pure social alternatives and we also admit indifferences among the alternatives. By following a similar line of reasoning to...</citationref>