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Competition

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  • Boone, J.

    (Tilburg University, Center for Economic Research)

Abstract

Competition has been modelled in the literature in a number of ways.What do these different parametrizations of competition have in common?For instance, it turns out that it is not always the case that a rise in competition reduces price cost margins, industry wide profits or concentration.All parametrizations of competition, considered here, have two features in common.First, the reallocation effect: a rise in competition raises the profits of a firm relative to the profits of a less efficient firm.Second, a rise in competition reduces the profits of the least efficient firm active in the industry.

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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2000-104.

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Date of creation: 2000
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Handle: RePEc:dgr:kubcen:2000104

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Keywords: competition; industrial concentration; profit;

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