“better” — and it turns out that “new” carries real social costs. I argue that patent law promotes innovation that diverges …, but also costs: incompatibility between different technologies; a spread-out, shallow pool of knowledge; and the … underlying costs of developing parallel technologies that aren’t actually better. These costs matter.Biomedical innovation …

politician quality depend critically on how the costs of running for office vary for candidates with different qualities. The … in a probabilistic voting environment to shed light on the forces shaping the quality of politicians from both the supply … model offers predictions on how the quality of the political class will vary with key parameters pertaining to both the …

The paper proposes an approach for evaluating the effect of flow fixed costs on the evaluation of environmental …

In a framework with an upstream monopoly and a downstream duopoly, we analyze the impact of convex costs on the … downstream level. In contrast to the case of constant marginal costs, vertical integration does not imply complete market … aggregate welfare …

uncertainties about the shape of the money demand curve translate into uncertainties about these welfare costs of inflation. A key …This paper quantifies for the United Kingdom the general equilibrium costs of individuals holding cash to economise on … 'shopping time'. These are a subset of a wider range of costs caused by inflation. The paper tests whether or not money balances …

bargaining power of different groups of workers in the presence of hiring and firing costs. This allows previously puzzling … labour market institutions, in particular hiring and firing costs and minimum wages, allows differences between the …

as a site. Thus, the private information of each community is potentially a vector of costs comprising a cost for each of … conflicts with commonly held views on how communities should be compensated for environmental costs. Regardless of the …