market power even though consumers anticipate opportunistic behavior. However, the monopoly resorts "too much" to this … innovation and therefore to maintain buyers' confidence over "durability". The paper characterizes the equilibrium properties of … the resulting innovation cycles such as existence, uniqueness and asymptotic stability and discusses potential regulatory …

by a monopoly owned by the inventor. We show that philanthropy does not necessarily increase long-run growth and that it … may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

increases utility. It is assumed that each variety is owned by a monopoly. Workers can specialize in material goods production … bliss point can only be made better-off by an increase in diversity. If wages are set by monopoly unions rather than set …