Does entry improve welfare? A general equilibrium approach to competition policy
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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Volume (Year): 98 (2009)
Issue (Month): 2 (November)
Pages: 97-118
| Handle: | RePEc:kap:jeczfn:v:98:y:2009:i:2:p:97-118 |
| Contact details of provider: | Web page: http://www.springerlink.com/link.asp?id=108909
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