Paul Solman: Today’s Paul Samuelson excerpt explains the concept of “consumer surplus.” See the other transcripts we posted this week on the basics of economics here and here.) To Samuelson, it was ...

There is an enormous amount of literature in which the concept and application of consumer's surplus (C.S.) are discussed. It is the aim of this paper to attempt to clarify the concept by discussing a ...

The free market operates best when there are no barriers to entry and exit, and is characterized by large numbers of participants. When these conditions do not exist in an industry, regulation is ...

Background Following suggestions that developers should be allowed to capture a defined share of the total value generated by their technologies, the amount of surplus accruing to the pharmaceutical ...