Abstract

Objective: This paper analyzes the nature of hallucinogenic drugs as goods in a monopoly market. That is, how they behave before the point of addiction, post the point of addiction as well as primarily how a monopolist will benefit in every situation.

Method: Medical analysis has been used to show how individuals develop addictions towards hallucinogens. Moreover, the paper displays how individuals behave in a market of hallucinogenic drugs and what their implications are on the nature of these drugs as goods. Figures have been provided to elaborate on the demand and pricing for the drugs in the monopoly market.

Findings: This paper successfully concludes that prior to the point of addiction, hallucinogenic drugs act as Veblen goods and post the point of addiction behave like GIFFEN GOODS. This conclusiveness allows one to understand how a monopoly over hallucinogens will greatly benefit the supplier not due to the characteristics of a monopoly market, but due to the behavioural tendencies of consumers of hallucinogens both prior to the point of addiction as well as one addiction to the drug has been developed.

Applications: The findings of this paper can be used in behavioural analysis of individuals towards hallucinogens as well as in a pressurized market where the consumers are dependent on the drug and how price level does not determine rationality of the consumer.

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Abstract

Objective: To showcase that vote trading for both dominant party voters such as the Republicans and individual candidate voters is a tool that can alter the outcomes of the Presidential elections in the USA.

Methods: The concept of Game Theory has been implemented to show voter behaviour between dominant party voters and individual candidate voters. Game Theory in this case outlines the various combinations of actions and outcomes that will take place on Election Day between these two sets of voters and eliminates the unfavourable combinations and brings out the most viable and lucrative option for both groups of voters.

Findings: This paper successfully concludes that vote trading is an essential tool and process that will aid in the winning of Presidential elections for the dominant political parties such as the Republicans or the Democrats. More exclusively, the paper finds that vote trading is also one of the finer methods for political parties to capture swing states on Election Day, allowing them a better chance - according to statistical analysis of US Presidential election winners - to win the entirety of the election. The conclusiveness of this finding via elimination of alternative actions further strengthens the need to bring vote trading as a practice behind which strong legislation should be put forth to facilitate the flowing of votes in the interests of supply and demand.

Applications: The findings of this paper can be applied in furthering the need of making vote trading a legally recognized political process.

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Abstract

Objective: The objective of the study lies in proving that although children’s literature in India has a wider consumer base than adult literature, publishers still sell children’s literature at lower rates despite the surmounting cost of publishing as opposed to adult literature which is less in demand but still is sold at a higher price, even with a relatively lower cost of publishing-the fundamental principle behind this phenomenon emulates the Diamond-Water Paradox in the short run, but due to the additional component of cost of publishing, in the long run the paradox breaks and ceases to exist.

Methods: The paper uses first hand data compiled from a variety of sources including Marketing Heads and Directors of publishing houses, editors and accomplished authors in an attempt to provide proof to the thesis.

Findings: With the help of the data, the paper successfully concludes that this phenomenon strongly emulates the Diamond-Water paradox, also known as the Paradox of Value, in the short run. By emulating such a phenomenon, it is also shown how such a phenomenon takes place with regard to price-cost/demand-supply analysis and how certain components of this analysis alter the market and dilute the paradox in the long run.

Applications: The paper’s findings can be applied in creating a new found understanding of the market for Indian literature as well as the mindsets of Indian publishing houses and customer behavior towards different kinds of literature. Moreover, as this paper brings to the forefront only the paradox and not a solution to it, further research may enable the finding of a possible result as to why the paradox takes place to begin with.

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