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Business Profitability and Social Profitability: Evaluating Industries with Externalities, The Case Casinos.

Grinols, Earl L.; Mustard, David B. - EconWPA - 2005

Casino gambling is a social issue, because in addition to the direct benefits to those who own and use casinos, positive and negative externalities are reaped and borne by those who do not gamble. To correctly assess the total economic impact of casinos, one must distinguish between business...

Persistent link: https://www.econbiz.de/10005561010

W.E. Johnson’s 1913 Paper and the Question of His Knowledge of Pareto

Moscati, Ivan - EconWPA - 2005

In 1913, the Cambridge logician W.E. Johnson published a famous article on demand theory in the Economic Journal. Although Johnson’s treatment of the subject strongly resembles the analysis set forth by Pareto in the Manual of Political Economy, Johnson does not cite the Italian economist....

Persistent link: https://www.econbiz.de/10005412541

Spillovers Reconsidered: Analysing Economic Welfare under Complementarities in R&D

Graevenitz, Georg von - EconWPA - 2005

We analyse economic welfare in R&D intensive industries under varying assumptions on the spillover process. The focus … lies on spillover processes with complementary R&D investments such as those modelling absorptive capacity. There … strengthened where spillovers also have positive effects. This conclusion is based on the supermodularity of the spillover process …

Persistent link: https://www.econbiz.de/10005412967

Complementarity, Search, and Price Dispersion

Rauh, Michael - EconWPA - 2005

We study an equilibrium sequential search model where buyers have potentially downward-sloping demand and with bilateral heterogeneity in buyers' search costs and firms' production costs. We show that downward- sloping demand and heterogeneity in production costs are necessary to ensure price...

Persistent link: https://www.econbiz.de/10005550870