A retailer has different opportunities to advertise in the media: emphasizing the store image or promoting specifically its private label (PL). In the first option, advertising benefits all products sold, whereas in the alternative, only store brands are concerned by image improvement. We...

We examine firms' preferences for product differentiation when a firm has a demand-side and/or a cost-side advantage over its competitor. We show that if the magnitude of these advantages is small, then both firms prefer more differentiated products. However, if the magnitude of demand-side...

We examine firms' preferences for product differentiation when a firm has a demand-side and/or a cost-side advantage over its competitor. We show that if the magnitude of these advantages is small, then both firms prefer more differentiated products. However, if the magnitude of demand-side...

The labor market is introduced into the standard vertical differentiation model, linking increasingly the quality of the product and the effort necessary for workers to produce it. Surprisingly, when two firms compete on the product market but are monopolies on the labor market, at equilibrium...

How do ideas evolve? Can one speak of scientific progress when there is more than one pathway of intellectual evolution in which different ideas emerge and flow in different directions? Is the history of economic analysis a compilation of a number of intellectual pathways? This essay argues that...

Can a heterodox economist find arguments in favor of Central Bank independence? Economists currently favor arguments in favor of Central Bank independence based on Barro-Gordon (1983 a,b), a very ‘orthodox' model. Consequently, those who view the economic orthodoxy with suspicion tend to...

This paper investigated the relationship between remittances and economic growth in Nigeria, using an error correction modeling approach for the period 1981 to 2011. Our result revealed that remittances positively impact on the economic growth of Nigeria. We have found that a 1 percent increase...

The impact of input price changes on industry concentration in a Cournot oligopoly depends on the type of firm heterogeneity and on the curvature of the demand function. Firms might be heterogeneous in their ability to use the input undergoing the price change, or in their ability to use...