Einer Elhauge is almost singlehandedly winning a battle against the Single Monopoly Theory. The theory, as popularized by early Chicago School theorists,1 argues that a “vertically integrated monopolist can earn monopoly profit only in one of the markets—either the upstream or downstream market, but not both [and that] firms typically cannot extend monopoly power over one product to other produ...

Fifty-eight years ago, Harberger (1954) estimated that the costs of monopoly, which resulted from misallocation of resources across industries, were trivial. Others showed the same was true for tariffs. This research soon led to the consensus that monopoly costs are of little significance–a consensus that persists to this day. This paper reports on a new literature that takes a different approa...

Where a fish stock straddles or migrates between country A’s exclusive economic zone (EEZ) and country B’s EEZ, or the high seas, vesting ownership rights in the stock with A does not ensure efficient harvesting of the stock. This problem arises in the case of migratory tuna stocks in the Western and Central Pacific Ocean (WCPO). Four species of tuna reside for only part of the year in the EEZs...

The aim of this paper is to explore the relationship between oil rents and renewable energy consumption provide evidence on significance effects prices investment taxes investment. Two different panel data samples were used: six variables for 44 countries utilized prove that rents’ are an independent variable causing consumption, five 10 higher lead levels For both samples, Granger causality te...

The value of land is determined by the locations’ attractiveness and degree direct use regulation. When regulations are binding, e.g., when a restriction on maximum floor area ratio exists, price can be directly expressed as function local amenities. We show theoretically empirically how this approach used to determine values from rental prices residential structures built upon that land. From ...

but the findings and views expressed in it are solely the authors' responsibility. The study used data from the Family Resources Survey and the Labour Force Survey, which are provided by the Economic and Social Data Service at the University of Essex, and labour market data from NOMIS. Crown copyright applies to these materials.