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Price Leadership and Welfare Losses in U.S. Manufacturing

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Author Info
Gisser, Micha
Abstract

A model of price leadership is used to estimate the welfare losses dueto monopoly in U.S. Manufacturing. Given that the leaders behave independently, an hypothesis confirmed empirically, the deadweight lossis estimated at 0.114 percent of GNP based on a sample of 445 four-digit industries. This estimate lends strong support to Arnold C.Harberger's finding of thirty years ago. Copyright 1986 by American Economic Association.

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Publisher Info
Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 76 (1986)
Issue (Month): 4 (September)
Pages: 756-67
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Handle: RePEc:aea:aecrev:v:76:y:1986:i:4:p:756-67

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  1. Lin Bian & Donald G. McFetridge, 2000. "Efficiencies Defences for Mergers within a Dominant Group," Carleton Economic Papers 00-09, Carleton University, Department of Economics. [Downloadable!]
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