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Does Entry Improve Welfare ? A General Equilibrium Approach of Competition Policy

  • Bertrand Crettez

    (Crest)

  • Marie-Cécile Fagart

    (Crest)

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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Paper provided by Centre de Recherche en Economie et Statistique in its series Working Papers with number 2005-08.

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Length: 24
Date of creation: 2005
Date of revision:
Handle: RePEc:crs:wpaper:2005-08
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  1. Victor Ginsburgh & Michiel Keyzer, 2002. "The Structure of Applied General Equilibrium Models," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262571579, June.
  2. Spear, Stephen E., 2003. "The electricity market game," Journal of Economic Theory, Elsevier, vol. 109(2), pages 300-323, April.
  3. repec:cup:cbooks:9780521816632 is not listed on IDEAS
  4. J. Peter Neary, 2003. "Competitive versus Comparative Advantage," The World Economy, Wiley Blackwell, vol. 26(4), pages 457-470, 04.
  5. Blanchard, Olivier J & Giavazzi, Francesco, 2001. "Macroeconomic Effects of Regulation and Deregulation in Goods and Labour Markets," CEPR Discussion Papers 2713, C.E.P.R. Discussion Papers.
  6. repec:dgr:uvatin:19980092 is not listed on IDEAS
  7. Bertrand Crettez & Marie-Cécile Fagart, 2005. "A Note on The Pareto Efficiency of General Oligopolistic Equilibria," Working Papers 2005-05, Centre de Recherche en Economie et Statistique.
  8. repec:cup:cbooks:9780521016919 is not listed on IDEAS
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