, frictions, general equilibrium, labour markets, multi-unit auctions, oligopoly markets, and prediction markets Focuses on the … -- Acknowledgements -- Notes -- References -- 4 OLIGOPOLY EXPERIMENTS IN THE CURRENT MILLENNIUM -- 1. Introduction -- 2. Oligopoly …

This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … excess of 10 US$ trillions (against $3 trillions of profits). Oligopoly lowers total surplus by 11.5% and depresses consumer …