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Measuring the Degree of Monopoly and Competition

In: Monopoly and Competition and their Regulation

Author

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  • Edward H. Chamberlin

    (Harvard University)

Abstract

AN analysis of the problem of measuring monopoly and competition 1 should start from definitions, so that it may be clear from the first what it is whose measurement is being discussed. As a part of the intensive theoretical study of this field in recent years a number of new definitions of monopoly have appeared, and I should like to make clear from the beginning that I do not accept any of them. Dr. Triffin, after discussing some of these new definitions, comments that ‘Professor Chamberlin seems to be the only one who has kept without a particle of change the old traditional definition of monopoly as control over supply ’.2 This is what monopoly has always meant, and I see no reason to change it.

Suggested Citation

  • Edward H. Chamberlin, 1954. "Measuring the Degree of Monopoly and Competition," International Economic Association Series, in: Edward H. Chamberlin (ed.), Monopoly and Competition and their Regulation, pages 255-267, Palgrave Macmillan.
  • Handle: RePEc:pal:intecp:978-1-349-08434-0_13
    DOI: 10.1007/978-1-349-08434-0_13
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    Cited by:

    1. Kenneth G. Elzinga & David E. Mills, 2011. "The Lerner Index of Monopoly Power: Origins and Uses," American Economic Review, American Economic Association, vol. 101(3), pages 558-564, May.

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