An Elasticity Measure of Welfare Loss in Symmetric Oligopoly
AbstractWe 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 InfoPaper provided by The University of Sheffield, Department of Economics in its series Working Papers with number 2009013.
Length: 10 pages
Date of creation: Jun 2009
Date of revision: Jun 2009
Oligopoly; Welfare loss; Elasticity;
Find related papers by JEL classification:
- D60 - Microeconomics - - Welfare Economics - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-04-17 (All new papers)
- NEP-COM-2010-04-17 (Industrial Competition)
- NEP-IND-2010-04-17 (Industrial Organization)
- NEP-MIC-2010-04-17 (Microeconomics)
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