In this paper we show that when a monopolist incurs certain costs for servicing or maintaining its customer-base, price markups may decrease with high demand — i.e. markups are countercylical. Indeed, for a given market share when demand booms each customer on average will purchase more output...

In this paper we show that when a monopolist incurs certain costs for servicing or maintaining its customer-base, price markups may decrease with high demand mdash; i.e. markups are countercylical. Indeed, for a given market share when demand booms each customer on average will purchase more...

A special feature of UK executive pay is the heavy reliance on performance conditions for executive share options. Using data compiled from 2002-2003 Remuneration Committee reports of 130 of Britain's largest companies as well as linked data on analyst earnings forecasts and realised earnings,...

This paper considers an extension of the standard cobweb model in a market with local externalities. In contrast with the standard cobweb model, firms must forecast both prices and local quantities; we develop new constructive stability and existence conditions for equilibria with positive...