propose a unifying theory to analyze the symptoms and the potential causes of this decline. We first highlight 10 pronounced … explain them. We then describe a theoretical framework of endogenous markups, innovation, and competition that can potentially … interacting forces: a composition effect that determines the market concentration and an incentive effect that determines how …

The effect of price regulation on generic market entry and welfare in the presence of (persuasive) advertising is …. If price regulation is too strict, then the generic firm will refrain from market entry. Hence, the model confirms the … empirical observation that generic market shares are lower in countries with strict price regulation. …

market is one of imperfect competition, but even so the cross-subsidy argument is unlikely to be valid. A qualitative …After describing the essential features of the book market, a welfare analysis of the fixed book price agreement is …