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presence of more firms may reduce welfare. …
Persistent link: https://www.econbiz.de/10013171861
. Our main result is that network effects create a fundamental conflict between the maximization of social welfare and … welfare is highest in the asymmetric equilibrium. We also show that both consumer surplus and social welfare are higher in any …
Persistent link: https://www.econbiz.de/10014217962
clauses and the likely effects on social welfare. We show that exclusivity agreements are especially profitable for shopping … centers and detrimental to social welfare if competition is intense between the two shopping centers. We argue that the focus …
Persistent link: https://www.econbiz.de/10011283647
correlation among costs. Experimental welfare losses in both treatments are higher than the equilibrium prediction owing to a …
Persistent link: https://www.econbiz.de/10011509449
and welfare. A Hotelling model in symmetrical duopoly with full market coverage is introduced. Firms invest in order to … invest. Social welfare benefit is greatest and most likely to occur where technological advancement is quick, even if it …
Persistent link: https://www.econbiz.de/10014191139
correlation among costs. Experimental welfare losses in both treatments are higher than the equilibrium prediction owing to a …
Persistent link: https://www.econbiz.de/10012982452
costs. Even though we do not find evidence of greater market power on average, experimental welfare losses are higher than …
Persistent link: https://www.econbiz.de/10012854395
microfoundations, the welfare consequences of rent seeking can be studied. In particular, I show that competition among rent seekers …
Persistent link: https://www.econbiz.de/10014055780
This paper aims at participating in the long-lasting debate about the analytical foundations of the Cournot equilibrium. In a homogeneous oligopoly, under standard regularity conditions, we prove that Cournot-Nash emerges both under (i) price competition and Cournot conjectures; and (ii) supply...
Persistent link: https://www.econbiz.de/10013024253
and welfare. Using a spokes model of horizontal competition, I show that review aggregators enhance total welfare mainly … by making valuable information available to consumers. The effect on welfare goes through different channels: 1) realised …
Persistent link: https://www.econbiz.de/10013026094