We present a model of fixing or patching a software problem after the product has been released in the market. Specifically, we model a software firm's trade-off in releasing a buggy product early and investments in fixing it later. Just as the marginal cost of producing software can be...

This paper presents a simple economic model of a drug dealer's decision about how many customers to supply. The model relates the number of customers (i.e., the branching factor of the distribution network) to a quantity discount factor describing the extent to which prices are marked up from...

Some have suggested fighting the drug problem with so-called "zero-tolerance" policies that impose stiff sanctions for possession of even trace amounts of illicit drugs. Such policies can swamp the criminal justice system and violate the principle that the punishment should fit the crime, but...

Drug use and related problems change substantially over time, so it seems plausible that drug interventions should vary too. To investigate this possibility, we set up a continuous time version of the first-order difference equation model of cocaine use introduced by Everingham and Rydell...