Bacchiega, Emanuele (2012) A note on the effect of market power in Ricardian economies. [Preprint]
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Abstract
We argue that it is the number of agents using market power, rather than the use of market power itself, that may drive Ricardian economies into autarchy. As a consequence, the monopoly equilibrium outcome Pareto-dominates the oligopoly one. Thus, counter-intuitively, a non monotonic relationship between number of agents endowed with market power and economic efficiency may emerge.
| Document type: | Preprint |
|---|---|
| Uncontrolled Keywords: | Comparative advantage; market power; efficiency |
| Subjects: | Area 13 - Scienze economiche e statistiche > SECS-P/01 Economia politica |
| Depositato da: | Emanuele Bacchiega |
| Depositato il: | 07 May 2012 09:56 |
| Last modified: | 07 May 2012 09:56 |
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