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Faculty of Economics

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Ritz, Robert A.

Oligopolistic competition and welfare

CWPE1680

Abstract: This chapter provides a selective survey of recent developments in the study of social welfare under oligopoly. The main topics covered are (i) the rate of cost pass through as a tool to analyze market performance; (ii) the quantification of welfare losses due to market power in Cournot-style models; and (iii) new results from models with endogenous entry. The chapter highlights common themes across these topics and identi.es areas for future research.

Keywords: monopoly, oligopoly, allocative efficiency, firm behaviour, antitrust policy

JEL Codes: D42 D43 D61 L20 L40

Author links: Robert Ritz  

PDF: http://www.econ.cam.ac.uk/research-files/repec/cam/pdf/cwpe1680.pdf

Open Access Link: https://doi.org/10.17863/CAM.7839