Monopoly innovation and welfare effects

Shuntian Yao and Lydia Gan

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models are constructed and analyzed in greater detail. We discover that technical innovation carried out by a monopolist could significantly increase the social welfare. We conclude that, in general, the criticism against monopoly innovation based on its increased deadweight loss is less accurate than previously postulated by many studies. -- Monopoly ; technical innovation ; welfare effects ; general equilibrium

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Year of publication:	2010
Authors:	Yao, Shuntian ; Gan Loo Geok, Lydia
Publisher:	[Kiel] : [Kiel Inst. for the World Economy]
Subject:	Innovation \| Monopol \| Monopoly \| Wohlfahrtsanalyse \| Welfare analysis \| Allgemeines Gleichgewicht \| General equilibrium \| Theorie \| Theory

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Extent:	Online-Ressource (PDF-Datei: 21 S.) graph. Darst.
Series:	Economics : the open-access, open-assessment journal. - Berlin : DeGruyter, ISSN 1864-6042, ZDB-ID 2324918-3. - Vol. 4.2010-27
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	10.5018/economics-ejournal.ja.2010-27 [DOI] hdl:10419/41560 [Handle]
Classification:	D50 - General Equilibrium and Disequilibrium. General ; D60 - Welfare Economics. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10008659364