An existing theoretical literature finds that frictionless resale markets cannot reduce profits of monopolist producers of perfectly durable goods. This paper starts by presenting logical arguments suggesting this finding does not hold for goods consumers tire of with use, implying the impact of resale is an empirical question. The empirical impact is then estimated in the market for video game...

Leasing has become an increasingly prominent way for consumers to acquire durable goods such as automobiles. How markets respond to changes in lease contracts has enormous implications to producers such as Ford Motor Company. In this paper, an experimental model was developed to study the interaction between lease contracts that embed an option to purchase and an underlying used-goods market. E...

Bacteria produce a wide variety of exoproducts that favourably modify their environment and increase their fitness. These are often termed 'public goods' because they are costly for individuals to produce and can be exploited by non-producers (cheats). The outcome of conflict over public goods is dependent upon the prevailing environment and the phenotype of the individuals in competition. Many...

We study the price of anarchy of a simple budget-balanced trading mechanism for multiple divisible goods in markets containing both producers and consumers (i.e. two-sided markets). Each producer is asked to submit a linear pricing function that specifies a per-unit price p(d) as a function of the demand d that it faces. Consumers then buy their preferred resource amounts at these prices. We pr...

Retailing is the interface between the producers and individual consumers buying for personal consumption or use. As such retailing is the last link that connects consumers or customers with the manufactures and distribution chain. Whether it is manufactures, distributors, wholesalers, if they sale the goods and service directly to buyers then they are called retailers and their trading activit...

The business literature and recent descriptive evidence show that exporting firms typically require the help of foreign trade intermediaries or need to set up own foreign wholesale affiliates. In contrast, conventional trade theory models assume that producers can directly access foreign consumers. This paper introduces intermediaries in an international trade model where producers differ with ...

Sourdough fermentation, a traditional biotechnology for making leavened baked goods, was almost completely replaced by the use of baker's yeast and chemical leavening agents in the last century. Recently, it has been rediscovered by the scientific community, consumers, and producers, thanks to several effects on organoleptic, technological, nutritional, and functional features of cereal-based p...

The GEM-E3 model starts from the same basic structure as the standard World Bank models2. Following the tradition of these models, GEM-E3 is built on the basis of a Social Accounting Matrix (Decaluwe, Martens and Monette 1987; Decaluwe and Martens 1988) and explicitly formulates demand and supply equilibrium. Technical coefficients in production and demand are flexible in the sense that produce...

We study a simple model of the world economy where the engine of growth is the flows of ideas. Ideas are assumed to diffuse randomly across pair of goods, where the processes used in the production of the lower cost good is adopted. We assume that producers in a country can learn from all sellers of goods to this country. We analyze how trade in goods, and impediments to it, affect this diffusi...

despite observation of regulations and precautionbyauthorities and agents, sometimes other people incur aloss because of execution of legal order of seniorauthorities. this problem is separately discussed becausethat loss is caused by the order of senior authorities andthe harmed person has no role in its occurrence. also, thatloss is peculiar to civil responsibility of the one inauthority and ...