This paper examines the choice of commercial breaks by a television network in a monopoly setup.
A model is developed in which producers in a differentiated product market compete in prices and informative advertising.
Following the clarification of advertising regulation in 1997, direct-to-consumer advertising (DTCA) of prescription drugs has skyrocketed in the U.S., creating a controversy over the role of DTCA.
I propose that sunk costs of learning and the output over which these costs are spread determine the probability and depth of technology adoption.
This paper presents a model of sequential innovation in which industry structure is endogenous and a standard of patentability determines the proportion of all inventions that qualify for protection (
A seaport is awarded in a Demsetz auction to the operator bidding the lowest cargo-handling fee.