In this paper, the author argues that a majority voting rule dominates a rule requiring unanimous agreement when a small number of voters is resolving questions of distribution. This is true, even though the majority rule yields no consistent ranking of alternatives, because of Condorcet's...

The price, output, and quality of a monopolistic competitor are determined by maximizing the difference between its revenue and its cost, where cost is measured exclusive of the rent on its product-specialized inputs. It can be argued that such a firm must have unique inputs that are specialized...