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An Elasticity Measure of Welfare Loss in Symmetric Oligopoly

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  • Tim James
  • Jolian McHardy

    ()
    (Department of Economics, The University of Sheffield Author-Person=pmc71)

Abstract

We derive a measure of welfare loss as a proportion of the value of sales under quantity-setting symmetric oligopoly in terms of the equilibrium industry price elasticity of demand, the number of firms in the industry and a conjectural variation term in the context of the standard linear model. This generalises the monopoly measure in James and McHardy (1997).

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Bibliographic Info

Paper provided by The University of Sheffield, Department of Economics in its series Working Papers with number 2009013.

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Length: 10 pages
Date of creation: Jun 2009
Date of revision: Jun 2009
Handle: RePEc:shf:wpaper:2009013

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Keywords: Oligopoly; Welfare loss; Elasticity;

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