Economic neoliberalism promises social efficiency with self-interested participants and free competition. This doctrine is challenged by the extensive production of wasteful goods and services in the contemporary West. By studying three types of wasteful production-conspicuous goods, conspicuous...

We relax two common assumptions in the Hotelling model with third-degree price discrimination: inelastic demand and exogenously assumed price discrimination. Based on the constant elasticity of substitution (CES) representative consumer model, we allow firms to endogenously choose whether to...