Buyers are typically unaware of the full set of offers when making a purchase. This paper examines how international trade interacts with this problem of market intransparency. Sellers must communicate their offers through costly advertising, but cannot reach all buyers. Consequently, no market...

This article analyzes the behavior of a producer of a legal addictive good (tobacco, alcohol or gambling) facing a demand with social interactions, especially a deterrence effect of heavy use on initiation. We simulate an epidemic model to estimate at what conditions it could be interesting for...