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 out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

Economic theory suggests that monopoly prices hurt consumers but benefit shareholders. But in a world where individuals …

solution. Then we consider a monopoly. Market power affects both output and sugar content, possibly in opposite directions, and …

A fundamental result in the theory of commodity taxation is that taxes increase consumer prices and reduce supply …

This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product …