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Oil price behavior has changed dramatically in the last twenty years. These changes can be explained rather simply in terms of the delayed responses of supply and demand to prices, and in terms of changes in the rate of discovery of reserves. This analysis can be used to forecast possible future...
Persistent link: https://www.econbiz.de/10005836067
its market; insurgent groups, producing paste of cocaine and being a local monopsony in the coca-leaf market; and cocaine …
Persistent link: https://www.econbiz.de/10011111651
We analyze monopoly power in a market for a complementary fossil resource like oil in a two country/two period model …
Persistent link: https://www.econbiz.de/10011234837
A new theory of capitalism is suggested. Its key moments and general logic are presented. This theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Disequilibrium and "imperfect competition" are admitted to be a functional norm of...
Persistent link: https://www.econbiz.de/10011258007
The paper analyzes Adam Smith’s views on monopoly focusing on Book IV and V of The Wealth of Nations and argues that … Smith has left his analysis of monopoly in an embryonic form while the majority of scholars have assessed it starting from … of the word ‘monopoly’ to refer to a heterogeneous collection of market outcomes, besides that of a single seller market …
Persistent link: https://www.econbiz.de/10011258542
A new theory of capitalism is suggested. Its key moments and general logic are presented. This theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Disequilibrium and "imperfect competition" are admitted to be a functional norm of...
Persistent link: https://www.econbiz.de/10011259286
Myanmar. The development of a new transit route through Myanmar, depriving Bangladesh of its former monopoly, has modified the …
Persistent link: https://www.econbiz.de/10011259372
tax it would pay for acquiring monopoly rights on a particular venture, posted publicly on a government-auction website … it right away. The advantage to the state and its citizens is that monopoly efficiency does not just serve the monopolist …
Persistent link: https://www.econbiz.de/10011259773
The present paper provides a descriptive analysis of the second-degree price discrimination problem on a monopolistic two-sided market. By imposing a simple two-sided framework with two distinct types of agents on one of its market sides, it will be shown that under incomplete information, the...
Persistent link: https://www.econbiz.de/10011260128
Schumpeter had a clear vision of the developing economy, but he did not formalize it. The quest for a germane formal basis is in the following guided by the general question: what is the minimum set of foundational propositions for a consistent reconstruction of the evolving money economy? We...
Persistent link: https://www.econbiz.de/10009025261