Oligopolistic competition and welfare
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Authors
Ritz, RA
Abstract
This chapter provides a selective survey of recent developments in the study of social welfare under oligopoly. The main topics covered are (i) the rate of cost pass through as a tool to analyze market performance; (ii) the quantification of welfare losses due to market power in Cournot-style models; and (iii) new results from models with endogenous entry. The chapter highlights common themes across these topics and identi.es areas for future research.
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Keywords
monopoly, oligopoly, allocative efficiency, firm behaviour, antitrust policy
Is Part Of
Handbook of game theory & industrial organization, Volume I
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All Rights Reserved