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Welfare Losses Due to Market Power: Hicksian versus Marshallian Measurement

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Author Info
 Lavergne, Pascal
Requillart, Vincent
Simioni, Michel

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Abstract

This paper warns against the use of Marshallian welfare loss in applied analysis of market power. We show how to compute the Hicksian deadweight loss from an ordinary demand. Then, from an experiment using real data on twenty-one sectors of the French food industry, we find that the Marshallian deadweight loss poorly approximates the exact Hicksian measure. Hence, it is advisable to use the latter in applied welfare analysis. Copyright 2001 by American Agricultural Economics Association

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Article provided by American Agricultural Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 83 (2001)
Issue (Month): 1 (February)
Pages: 157-65
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Handle: RePEc:bla:ajagec:v:83:y:2001:i:1:p:157-65

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  1. Demont, Matty & Tollens, Eric, 2001. "Uncertainties Of Estimating The Welfare Effects Of Agricultural Biotechnology In The European Union," Working Papers 31828, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics. [Downloadable!]
  2. Demont, Matty & Tollens, Eric, 2002. "The Euwab-Project: Discussion," Working Papers 31858, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics. [Downloadable!]
  3. Bouamra-Mechemache, Zohra & Réquillart, Vincent & Soregaroli, Claudio & Trévisiol, Audrey, 2007. "Demand for Dairy Products in the EU," IDEI Working Papers 454, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
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