The notion and interpretation of path dependence have been discussed and utilized in various social sciences during the last two decades. This innovative book provides significant new insights onto how the different applications of path dependence have developed and evolved. The authors suggest...

Featuring expert contributors from around the world, this book offers insight into the vital theoretical and practical aspects of the economics of copyright. Topics discussed include fair use, performers’ rights, copyright and trade, online music streaming, internet piracy, copyright and...

Economists have defined 'network externality' and have examined putative inframarginal market failures associated with it. This paper distinguishes between network effects and network externalities, where the latter are market failures. The authors argue that while network effects are important,...

This paper provides a model of the pricing of a physician's output. Each medical specialty behaves as a cartel, choosing prices which maximize profits for a representative practitioner. Two assumptions distinguish the model from previous work, and generate key results: (1) Within specialties,...