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Efficiency, Equity, and Corporate Responsibility in Imperfect Competition

In: New Perspectives on Industrial Organization

Author

Listed:
  • Victor J. Tremblay

    (Oregon State University)

  • Carol Horton Tremblay

    (Oregon State University)

Abstract

A crucial objective in industrial organization is to evaluate whether or not imperfectly competitive markets perform well from society’s perspective. As we discussed in Chap. 1 , we focus on three dimensions of market performance: static efficiency, dynamic efficiency, and equity. Up to this point, we have spent most of our time discussing efficiency issues. We now begin this chapter with a review and assessment of what we have learned regarding imperfect competition and different types of inefficiency—market power (i.e., allocative inefficiency), X-inefficiency, rent-seeking behavior, and technological change (i.e., dynamic efficiency).

Suggested Citation

  • Victor J. Tremblay & Carol Horton Tremblay, 2012. "Efficiency, Equity, and Corporate Responsibility in Imperfect Competition," Springer Texts in Business and Economics, in: New Perspectives on Industrial Organization, edition 127, chapter 0, pages 569-585, Springer.
    • Handle: RePEc:spr:sptchp:978-1-4614-3241-8_19
    DOI: 10.1007/978-1-4614-3241-8_19
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