present length of time squeezes down the durable price. The willingness to replace the durable in the future, on the one hand …

The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this … indirect trade, money also must be used. Micro says that price is equal to marginal cost, rejecting trade theory’s claim that … trade is gainful. To remove these and other contradictions, price theory must be repaired. Money’s role in market clearing …

results, we discuss an explanation of the fact that Microsoft Office has a significantly higher price than Microsoft Windows …

This article evaluates two different remedies for consumers who have been injured by a price overcharge on the sale of … purchase the good at a price below that which prevails after the overcharge has been eliminated, that is, below the competitive … price. Under a discount remedy, any consumer, without proof of injury, may purchase the good for a limited period of time at …

the fraction of legal users and the volume of legal usage. In the absence of price- discrimination, the optimal level of … between the quality of the legal and pirated goods. However, when a seller can price-discriminate, it is always optimal for …