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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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.

Abstract
Document type
Preprint
Creators
CreatorsAffiliationORCID
Bacchiega, Emanuele
Keywords
Comparative advantage; market power; efficiency
Subjects
DOI
Deposit date
07 May 2012 07:56
Last modified
07 May 2012 07:56
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