An industrial cluster is a group of firms that are specialized by sector, located in close geographic proximity and consist of mostly small and medium sized enterprises. An introduction to these clusters is provided in Chapter One.Chapter Two develops a model to examine the conditions under...

Chapter I: Persuasive advertising alters consumers' tastes and creates brand loyalty. The established view in the economics literature is that such advertising is anti-competitive and results in higher prices. This paper demonstrates that this is not necessarily true. This is shown in a model of...