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Second Best Antitrust in General Equilibrium - A Special Case

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  • Claus Thustrup Hansen

    (University of Copenhagen Institute of Economics)

Abstract

This paper analyzes the welfare implications of regulating some but not all monopolistic industries of an economy (i.e., marginal regulation). It is shown that marginal regulation decreases welfare if a large fraction of all industries are monopolistic. Furthermore, the paper shows that the difference between the true welfare loss and the standard dead-weight loss grows progressively as the monopolistic part of the economy grows.

Suggested Citation

  • Claus Thustrup Hansen, 1997. "Second Best Antitrust in General Equilibrium - A Special Case," Discussion Papers 97-19, University of Copenhagen. Department of Economics.
    • Handle: RePEc:kud:kuiedp:9719
    DOI: 10.1016/S0165-1765(99)00042-7
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    File URL: http://dx.doi.org/10.1016/S0165-1765(99)00042-7
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    More about this item

    Keywords

    monopoly; general equilibrium; regulation;
    All these keywords.

    JEL classification:

    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices

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