by a monopoly owned by the inventor. We show that philanthropy does not necessarily increase long-run growth and that it … may even reduce welfare. The reason is that it crowds our proprietary innovation, which on net may reduce total innovation …

increases utility. It is assumed that each variety is owned by a monopoly. Workers can specialise in material goods production … their bliss point can only be made better off by an increase in diversity. If wages are set by monopoly unions rather than …

time. Otherwise, it will gradually reduce its innovation effort over time and ultimately terminate production. Productivity …

An upstream firm can license its innovation to downstream firms that have to exert further development effort. There …

imperfect tests to find out about buildings’ damage types. The insurance market is a natural monopoly. If more than one insurer …. First we show that the natural insurance monopoly need not be sustainable. Then we show that in the equilibrium industry … structure the incumbent may accommodate entry even when the natural monopoly is sustainable. The theoretical findings are thus …

, it later 'tips' to monopoly, after which entry is hard, often even too hard given incompatibility. And while switching …