opportunism and collective values. Shadow markets may, however, enhance consumer welfare by limiting the pricing power of firms …

opportunism and collective values. Shadow markets may, however, enhance consumer welfare by limiting the pricing power of firms …

opportunism and collective values. Shadow markets may, however, enhance consumer welfare by limiting the pricing power of firms …

(b) the weights in the social welfare function given to consumers and firms are different. We assume quasilinear utility … less elastic. When the weights given to consumers and firms are not identical, social welfare is not necessarily concave … and profits might be negative at the unrestricted optimum. We characterize social welfare optimum with a bound on maximum …

This paper shows that the welfare dominance of ad valorem over unit taxes under imperfect competition, extends to the …

, countrywide profits, and welfare. Firms face resource constraints and wages are simultaneously determined. Relative to free trade … technology. Domestic welfare is unambiguously penalized. Hence, the general-equilibrium cross-sector perspective goes against the …

entry and raises welfare. Furthermore, we show that collective bargaining loosens the linkage between business stealing and …

How does cost uncertainty affect the welfare consequences of an oligopoly? To answer this question, we investigate a …-up. Furthermore, the welfare loss due to oligopoly tends to increase with uncertainty. …

(PTAs) and show that the indirect effects can give rise to trade diversion. We also characterize the welfare effects of … persistent finding is that, in the absence of appropriate regulation, preferential trade liberalization can be welfare …

Trade unions are often argued to cause allocative inefficiencies and to lower welfare. We analyze whether this … welfare. We find that an increase in the union's bargaining power raises welfare if the (inverse) demand curve is …