and welfare, and establish that in congested markets with free entry, the number of firms exceeds the social optimum. …

demand. This paper provides a first assessment of the role of demand elasticity on the profit, consumer and welfare effects … that this benefit is independent of elasticity. In contrast to the welfare results derived under the unit demand assumption …, where BBPD is always bad for welfare, the paper shows that BBPD can be welfare enhancing if demand elasticity is …

microfoundations, the welfare consequences of rent seeking can be studied. In particular, I show that competition among rent seekers …

. However, licensing increases innovation under a two-part tariff licensing contract. Licensing does not reduce social welfare. …

This paper presents results from a calibrated welfare model of the UK mobile telephony market which includes many … focuses on the short-run effects of adopting lower mobile termination rates (MTRs) on total welfare, consumer surplus and … rates), increases social welfare, consumer surplus and networks’ profits. Depending on the strength of call externalities …

profit-maximizing business model of the platform and show that welfare is lower when the platform monetizes through … from naïfs increases the firm's price). This negative welfare effect is intensified when the platform can offer mixed … ad taxes can improve welfare …

This paper uses an aggregative games framework to predict consumer welfare when market structure is endogenously … determined. Our main results characterize mergers whose synergies reduce consumer welfare by inducing rivals to exit. The …