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Does Entry Improve Welfare ? A General Equilibrium Approach of Competition Policy

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  • Bertrand Crettez

    (Crest)

  • Marie-Cécile Fagart

    (Crest)

Abstract

We consider a general equilibrium model under imperfect competition. Firms have constantreturns, they are price taker in the input market and compete à la Cournot in theproduct market. We assume a representative consumer exists. We show that an increase inthe number of firms of a given market does not always improve welfare, challenging thecommon idea according to which mergers with no cost synergy are not desirable for theconsumer.

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Bibliographic Info

Paper provided by Centre de Recherche en Economie et Statistique in its series Working Papers with number 2005-08.

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Length: 24
Date of creation: 2005
Date of revision:
Handle: RePEc:crs:wpaper:2005-08

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  1. Spear, Stephen E., 2003. "The electricity market game," Journal of Economic Theory, Elsevier, vol. 109(2), pages 300-323, April.
  2. J. Peter Neary, 2003. "Competitive versus Comparative Advantage," The World Economy, Wiley Blackwell, vol. 26(4), pages 457-470, 04.
  3. Victor Ginsburgh & Michiel Keyzer, 2002. "The structure of applied general equilibrium models," ULB Institutional Repository 2013/3313, ULB -- Universite Libre de Bruxelles.
  4. Motta,Massimo, 2004. "Competition Policy," Cambridge Books, Cambridge University Press, number 9780521016919, October.
  5. Olivier Blanchard & Francesco Giavazzi, . "Macroeconomic effects of regulation and deregulation in goods and labor markets," Working Papers 187, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  6. Bertrand Crettez & Marie-Cécile Fagart, 2005. "A Note on The Pareto Efficiency of General Oligopolistic Equilibria," Working Papers 2005-05, Centre de Recherche en Economie et Statistique.
  7. Joseph F. Francois & Henrik Horn, 1998. "Competition Policy in an Open Economy," Tinbergen Institute Discussion Papers 98-092/2, Tinbergen Institute.
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Cited by:
  1. Marc Deschamps, 2013. "Pourquoi des politiques de concurrence ?," GREDEG Working Papers 2013-23, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
  2. Arijit Mukherjee & Udo Broll & Soma Mukherjee, 2009. "The welfare effects of entry: the role of the input market," Journal of Economics, Springer, vol. 98(3), pages 189-201, December.
  3. Illtae Ahn & Hyukseung Shin, 2012. "Domestic Welfare Effects Of The Entry Of A Foreign Firm," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 37(2), pages 35-57, June.

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