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A simple second degree price discrimination model involving nonlinear pricing of packets of a homogeneous product is shown to exhibit a welfare loss compared to the situation when nonlinear pricing is prohibited. The result holds for a Cournot oligopoly as well as monopoly. Further analysis...
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A two-stage model of a homogeneous good oligopoly is constructed that is composed of a first stage determining (costless) information provision to consumers and then a second stage of price setting. A perfect equilibrium is found that is characterized by les s than full information and by...
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Acquiring skill is costly and, in the presence of some degree of specificity, not totally transferable between firms. If it is impossible to sign complete contracts between a profit-maximizing firm and its workers, and/or the workers value future income less than do capitalists, labor-managed...
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