Zoning is well known as a key instrument of planning regulation, which is environmental regulation in its broadest sense. Zoning in terms of economic theorisation is normally justified by the Pigovian welfare economics theses of market failure, notably '...

Abba Lerner's paper in the <em>Review of Economic Studies</em> (1934) is the source of what is now referred to as the Lerner Index of monopoly power. The Lerner Index has become the standard measure of monopoly power and one of the most widely cited indexes in the discipline of economics. This paper...

Recent theories of price wars triggered by entry assign a critical role to switching costs in explaining price and output changes. Earlier, Elzinga and Mills (1998) showed that actual switching patterns following an episode of new entry in an industry are driven by the fact that buyers have...