diffusion, even when the price is constant. In the latter case the mutual competition between the brands leads with time to a … (Juglar cycles) having its origin in the initial diffusion process. The theory suggests that there exists two diffusion … network of potential consumers. The other diffusion process comes into play, when the price of the durable is such, that only …

inducing competition and thus cannot accurately capture the loss in social welfare. In this Article, we suggest an alternative … method of measuring the social cost of monopoly. Using elements of general equilibrium theory, we propose a social cost … power given a history of price-demand observations …

analyzes price formation in illegal markets. We develop a simple model with two regimes that can show a rich variety of dynamic … intrinsic forces associated with nonlinear relations. This model can provide intuitions to explain price changes in illegal … markets, particularly in drug ones, where price dynamics can become unpredictable given both the dangerous environment and the …

, demand increases or is equal to supply, competition breaks down and the price exhibits a jump. When this supply shortage is … statistical methods it can be shown that in a competitive market the mean price declines according to an exponential law towards a … natural price, while the corresponding price distribution is approximately given by a Laplace distribution for independent …

amongst mortgage lenders and adds the idea of lender competition into this framework. Despite this addition, the results are …. When lenders are rational and face potential competition, they are able to use the bidding process as a means of generating …

. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers …