In a Ricardian two‐factor endowment model with Cobb–Douglas tastes and many goods, this paper describes the interaction of the demand and supply sides to determine the gains and losses from trade. If the abundant factor has a sufficiently rich profile of comparative advantages, trade causes...

There are two basic explanations of price discrimination in medicine. The traditional explanation is that the American Medical Association enforces sufficient price discipline to apply the theory of a price-discriminating monopolist. Members of the AMA explain price discrimination by the...