This survey reviews models of self-reinforcing mechanisms that cause poverty to persist. Some of them examine market failure in environments where the neoclassical assumptions on markets and technology break down. Other mechanisms include institutional failure which can, by itself, perpetuate...

Voluntary military alliances, such as NATO, are often criticized for failing to exploit the opportunities for equipment standardization and free trade. However, nationalism means that governments adopt a variety of industrial policies for purchasing defense equipment, leading to departures from...

This study delves into a market characterized by vertical product differentiation. Product qualities are represented on a one-dimensional interval scale. The research investigates the equilibrium within a monopoly scenario, considering a production cost that is strictly convex. The monopoly...