HERAKLITES

Intra-firm relations The traditional view of the firm is of a unitary entity with a single set of objectives. Neoclassical analysis assumes...

What are the benefits of vertical integration? To understand why firms sometimes vertically merge, we need to look at two issues: (i) contra...

Raymond Tallis has written an interesting article about the Pre-Socratic philosopher Parmenides in the latest Prospect , as a taster for hi...

One of the few provable useful results in economics is the one about markets producing an optimal outcome. If all goods and services in an...

Continuing last week's post on game theory Entry deterrence 'Entry deterrence' is an example of trying to manipulate a rival pl...