Accounting education has become quite rigid, mostly because it is structured along the lines of a monopoly. The American Assembly of Collegiate Schools of Business (AACSB) has been granted a national monopoly by the Department of Education to accredit business programs and the six regional...

This article evaluates two different remedies for consumers who have been injured by a price overcharge on the sale of a good. Under a coupon remedy, injured consumers are awarded coupons that can be used for a limited period of time to purchase the good at a price below that which prevails...

This article evaluates two different remedies for consumers who have been injured by a price overcharge on the sale of a good. Under a coupon remedy, injured consumers are awarded coupons that can be used for a limited period of time to purchase the good at a price below that which prevails...

Although much research has been devoted to the impact of seller structure on market outcomes, considerably less is known about the influence of buyer structure. We examine the impact of buyer concentration on the pricing of a monopolist. Markets with both two and four buyers achieve prices well...

New applications of nanotechnologies and nanomaterials are often associated with big market opportunities and high problem solving potential. This perception relates mostly to the segments of cosmetics, textiles, food and food packaging. At the same time, consumer and environmental organisations...

Recent legislative efforts to address online child safety concerns seek to regulate websites or restrict online content. Education, not increased governmental regulation, is the most effective method of ensuring online child safety. Educational efforts that teach children to safely navigate...

Economic literature describes drastic and non-drastic innovations as sources of marginal cost reduction. The difference is that non-drastic innovations are unable to reduce the new marginal cost in order to ensure that the innovator is able to set monopoly price lower than the previous marginal...

Inventors and users of technology often enter into cooperative agreements for sharing their intellectual property in order to implement a standard or to avoid costly litigation. Over the past two decades, U.S. antitrust authorities have viewed pooling arrangements that integrate complementary,...

What is the optimal system of intellectual property rights to encourage innovation? Empirical evidence from economic history can help to inform important policy questions that have been difficult to answer with modern data: 1) Does the existence of strong patent laws encourage innovation? And 2)...

The paper explores the role of R&D investments reducing fixed production costs in entry deterrence. An incumbent monopolist and a potential entrant can perform R&D to reduce their fixed production costs, with bidirectional and asymmetric technological spillovers. It is shown that deterrence,...