prices increase and consumer's surplus possibly decrease. We first derive the price and the consumer's surplus of a monopoly … entry increase in price may outweight the gains from extra variety and make consumers worse off. …

This paper replicates two spatial monopoly models by Takayama and Judge. The first one is a simple spatial monopoly … model. The second model allows the activity of arbitrage between any pains of consumption regions if the price differential … our model is far from being either of the spatial monopoly models. The Appalachian steamcoal market, characterized by …