Corrupt agents (officials or gangsters) exact money from firms. Corruption affects the number of firms in a free-entry equilibrium. The degree of deep competition in the economy increases with lower overhead costs relative to profits and with a tendency toward similar cost structures. Increases...

After surveying existing models of retailing, this paper concentrates on the idea that the shop saves its customers costs by assembling goods in one p lace. This introduces an essential nonconvexity and importantly affec ts the conditions under which shops compete with each other and the c...

In 1971, Ronald Jones examined a three-factor two-good model under the assumption that two of the factors are specific to one sector (a different sector for each such factor). Working independently, in the same year Paul Samuelson developed a similar framework. In this paper that specification...