Library journal subscriptions are treated as a public good. A monopoly publisher sells subscriptions to both libraries and individuals. For individuals, the journal is a private good. Profit maximization can lead to high institutional prices and few individual subscribers. This outcome is...

Auctions that require advance production increase seller costs because inventories must be held. This cost does not exist in production-to-demand markets for which production follows trading, and sales exactly match quantities produced. Data from laboratory computerized double auction markets...