This paper studies optimal sport league size. League expansion lowers average player quality, reducing fans' utility in inframarginal locations, while fan utility in new locations rises. Welfare analyses of such expansions must compare these two effects. Using a model where fan demand depends on...

I consider transactions involving asymmetric prisoners`dilemmas between pairs of players selected chosen from two large populations. Games are played repeatedly, but information about cheating is not adequate to sustain cooperation, and there is no official legal system of contract enforcement....

We consider a therapeutic market with potentially three pharmaceutical firms. Two of the firms offer horizontally differentiated brand-name drugs. One of the brand-name drugs is a new treatment under patent protection that will be introduced if the profits are sufficient to cover the entry...

This paper envisages economies of scale - or rather, diseconomies of low scale - caused in small nations by a sometimes acute shortage of talent and to indivisibility of teams: for example, a small country such as Iceland or Luxembourg cannot participate in an international football tournament...

The nation's spending for prescription drugs has grown dramatically in recent years. Previous studies have shown that the replacement of older drugs by newer, more expensive, drugs is the single most important reason for this increase, but they did not measure how much of the difference between...

Between 1960 and 1997, life expectancy at birth of Americans increased approximately 10% - from 69,7 to 76,5 years - and it has been estimated that the value of life extension during this period nearly equaled the gains in tangible consumption. While life expectancy has tended to increase, there...

We study effects of direct-to-consumer advertising (DTCA) in the prescription drug market. There are two pharmaceutical firms providing horizontally differentiated (branded) drugs. Patients differ in their susceptibility to the drugs. If DTCA is allowed, this can be employed to induce...