This paper generalizes the classical duopoly collusion model by first deriving a new marginal cost curve. It then proves that freely colluded duopolists produce more joint output and enjoy larger joint profit than a monopolist, so they have higher incentive to collude. It also distinguishes free...

This paper reproduces Lerner's (1936) result to reconcile different understanding about tax incidence. It proves that a tax or tariff does not shift any demand, supply or offer curve. It disproves the traditional tax incidence model and the Coase theorem. This paper also corrects Lerner's...

This paper clarifies roundaboutness. It proves that BB has confused it with time. It is time that is needed to produce some output, not roundaboutness to produce some input, be it called capital or otherwise. It also corrects the misunderstanding that more stupid people or machines get higher reward

Many people are obsessed with the traditional exchange theory, especially with the one that depreciation helps a country's export. This paper proves that such policy is a colonial thinking to exploit the indigenous people. Since depreciation prerequisites printing money, such policy inflicts...

This paper disproves Hick's compensation principle. It shows that compensation is wilful and wrong. Compensation, like intervention, is non-economics. Instead, this paper suggests using one of the products as input to produce another as output, for profit

Nash (1951) claimed that every game must have a solution, even if it means a mixed strategy. His method is to find a probability that equalizes the two expected payoffs. Though simple, the calculation can be tedious. To avoid unnecessary mistake, this paper works out an algorithm to do the...