by a monopoly owned by the inventor. We show that philanthropy does not necessarily increase long-run growth and that it …

crowds out local variety. Under local monopoly, local buyer surplus co-moves with external buyer surplus. Under local free … surplus is better provided by local monopoly. …

We analyze the incidence and welfare effects of unit sales taxes in experimental monopoly and Bertrand markets. We find … consumers, independent of whether buyers are automated or human players. In monopoly markets, a monopolist bears a large share … presence of human buyers constrains the pricing behavior of a monopolist. -- tax incidence ; monopoly ; Bertrand competition …