Showing 1 - 10 of 1,541
Sylos Labini’s essay is devoted to the analysis of price determination under condition of monopoly and monopsony. The … problem of price indeterminacy in case of bilateral monopoly (associated with monopsony) is thoroughly discussed in relation … analysis of monopoly and monopsony to dismiss the ‘Classical’ argument that a perfect wage flexibility can bring about a full …
Persistent link: https://www.econbiz.de/10010786830
Since the publication by Williamson (1968) of his seminal paper on antitrust there has been a growing recognition by regulators of the need to assess trade-offs between merger-related efficiency gains and merger-induced increases in market power. This paper addresses that need by presenting a...
Persistent link: https://www.econbiz.de/10005123686
The nation states created by the disintegration of the former Soviet Union inherited transportation systems ill suited to the needs of market economies. Technologies were often outmoded, too energy intensive and not well adapted to the on-time delivery of small shipments characteristic of a...
Persistent link: https://www.econbiz.de/10009275867
Persistent link: https://www.econbiz.de/10011484004
This paper examines Alfred Marshall's invention of the representative firm. Marshall first used the representative firm in order to describe an industry supply curve for an industry with heterogeneous firms. Despite Marshall's limited use of the notion, the representative agent was extensively...
Persistent link: https://www.econbiz.de/10005756820
This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...
Persistent link: https://www.econbiz.de/10014023495
I examine the outcomes of cases of entry by merchant shipping lines into established markets around the turn of the century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines. The cartel makes the decision whether or not to begin...
Persistent link: https://www.econbiz.de/10005720246
Does competition spur productivity? And if so, how does it accomplish this? These have long been regarded as central questions in economics. This article reviews the literature that makes progress toward answering both questions.
Persistent link: https://www.econbiz.de/10009226034
An upstream firm can license its innovation to downstream firms that have to exert further development effort. There are situations in which more licenses are sold if effort is a hidden action. Moral hazard may thus increase the probability that the product will be developed.
Persistent link: https://www.econbiz.de/10005497972
This article analyzes how a property tax affects a lease-sale strategy of a durable-goods monopolist, and discusses its implications on social welfare. This paper presents some interesting results: (i) Contrary to the traditional view, social welfare can be enhanced by a tax when the time...
Persistent link: https://www.econbiz.de/10010729769