An Elasticity Measure of Welfare Loss in Symmetric Oligopoly
We 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).
|Date of creation:||Jun 2009|
|Date of revision:||Jun 2009|
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