In a differentiated oligopoly market, it is often the case that consumers' ex post preferences over different product qualities depend upon the state of nature that is not yet observable to the consumers at the time of purchase. One of the most typical examples is a market for durable goods or...

Consider an oligopolistic industry where production is time-consuming, so that each firm needs to make quantity commitment by producing before the market opens. If demand uncertainty resolves some time before the market arrives, then those firms who produce early behave as simultaneous leaders...

Can punitive product liability enhance economic efficiency? A very simple economic theory, assuming that the probability and the degree of product dissatisfaction are functions only of the producer's not of the consumer's effort, is modelled and analysed in this paper. The qualitative conclusion...