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Three studies used the Palestinian-Israeli context to investigate the tendency for political antagonists to derogate each other's compromise proposals. In study 1, Israeli Jews evaluated an actual Israeli-authored peace plan less favorably when it was attributed to the Palestinians than when it...
We examine the effects of market structure and the internal organization of firms on equilibrium R&D projects. We compare a monopolist’s choice of R&D portfolio to that of a welfare maximizer. We next show that Sah and Stiglitz’s finding that the market portfolio of R&D is...
We examine the effects of market structure and the internal organization of firms on equilibrium R&D projects. We compare a monopolist’s choice of R&D portfolio to that of a welfare maximizer. We next show that Sah and Stiglitz’s finding that the market portfolio of R&D is...
There has been considerable debate concerning whether consumer surplus or total surplus should be the welfare standard for antitrust. This debate misses two critical issues.
In this note, the author addresses the core of the Commission's argument and whether or not MasterCard’s setting of default interchange fees constituted price-fixing.
We consider innovation incentives in markets where final goods comprise two strictly complementary components, one of which is monopolized. We focus on the case in which the complementary component is competitively supplied, and in which innovation is important. We explore ways in which the...