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A note on the effect of market power in Ricardian economies

Bacchiega, Emanuele (2012) A note on the effect of market power in Ricardian economies. [Preprint]

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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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