Post Keynesian theory as opposed to Walrasian theory does not provide the foundations for a unique general equilibrium but claims the existence of multiple equilibrium positions. In this article, such a multiple of equilibrium positions is explained by different market constellations which are...

The art market has seen boom and bust during the last years and, despite the downturn, has received more attention from investors given the low interest environment following the financial crisis. However, participation has been reserved for a few investors and the hedging of exposures remains...

Dieser Beitrag untersucht die für die Medienwirtschaft relevanten Märkte mit einfachen Marktmodellen. Im Zentrum stehen die Interdependenzen zwischen Konsumgüter-, Werbe- und Medienmärkten, wobei die wichtige Rolle der Werbemärkte als ökonomischer Motor der Medienwirtschaft besonders...

Typically, when two people decide to become parents, they procreate by copulation and produce a child. What do people do if, for some reason, they can?t produce their own children but want to be parents? Today, a prospective parent can go to the web, drop a vial of sperm from a donor with...

This paper studies how an institution such as markets affects the evolution of mankind. My key point is that the forces of natural selection are made weaker because trade allows people to specialize in those activities where they are strong, and to offset their weaknesses by purchasing adequate...

We analyze the effects of accidents and liability obligations on the incentives of car manufacturers to monopolize the markets for their spare parts. We show that monopolized markets for spare parts lead to higher overall expenditures for consumers. Furthermore, while the manufacturers invest...

Printmedienmärkte weisen eine Reihe besonderer Eigenschaften auf, die sie von gewöhnlichen Produktmärkten unterscheiden. Die beiden wichtigsten dieser abgrenzenden Charakteristika sind (i) die direkte Abhängigkeit von Printmedienreichweite und Nachfrage nach Anzeigenseiten und (ii) die...