How Hard Is It to Maximize Profit? Evidence from a 19th century Italian State Monopoly
(2020)
Journal Article
Ciccarelli, C., De Fraja, G., & Tiezzi, S. (2021). How Hard Is It to Maximize Profit? Evidence from a 19th century Italian State Monopoly. Oxford Economic Papers, 73(2), 879–902. https://doi.org/10.1093/oep/gpz076
In this paper we study the ability of the 19th century Italian government to choose profit maximizing prices for a multiproduct monopolist. We use very detailed historical data on the tobacco consumption in 62 Italian provinces from 1871 to 1888 to e... Read More about How Hard Is It to Maximize Profit? Evidence from a 19th century Italian State Monopoly.