Under demand uncertainty, a risk-averse seller adopts marginal-cost pricing when clients are homogenous. When the clients are heterogeneous, the optimal unit price tends to move towards marginal cost as the seller's risk aversion increases and equals marginal cost if the seller is infinitely...

We present a diagrammatic and step-by-step analysis of price signaling quality. Because quality is a continuum on the real positive line, out-of-equilibrium beliefs need not be specified, i.e., every positive price is a positive outcome in equilibrium. We first study the behavior of the monopoly...

We study pricing by a monopoly platform that matches buyers and sellers in an environment with cross-market externalities. Said platform has no private information, does not set the commodity's price and can only charge trading parties for the transaction. Our innovation consists in introducing...

On May 24, 2010, the U.S. Supreme Court ruled in the case American Needle v. Nat'l Football League that the National Football League's trademark licensing practices are subject to review under Section 1 of the Sherman Act. This ruling reversed an earlier decision by the U.S. Court of Appeals for...

Goering (2012) works on a bilateral monopoly with perfect marketing channel coordination to analyze the effects of corporate social responsibility. In contrast to him we solve the general framework of the model and get further interesting insights into a bilateral monopoly where firms are...

We study the informational role of prices in a stochastic environment. We provide a closed-form solution of the monopoly problem when the price imperfectly signals quality to the uninformed buyers. We then study the effect of noise on output, market price, information flows, and expected...

We study the informational role of prices in a stochastic environment. We provide a closed-form solution of the monopoly problem when the price imperfectly signals quality to the uninformed buyers. We then study the effect of noise on output, market price, information flows, and expected...

Market definition is an essential ingredient to competitive and regulatory analysis. Yet, there is significant disparity regarding the definition of the relevant geographic market for high-capacity circuits, commonly referred to as Special Access services. Given the present debate over expanding...

This Article explains how MLB club-owners use their control over the market for premier, professional baseball to demand free public stadiums. Part I of this Article explains how the United States has moved from having just one publicly funded MLB stadium (pre-1950s) to having over twenty-five...