This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … excess of 10 US$ trillions (against $3 trillions of profits). Oligopoly lowers total surplus by 11.5% and depresses consumer …

crowds out local variety. Under local monopoly, local buyer surplus co-moves with external buyer surplus. Under local free … entry oligopoly, buyer surplus is U-shaped. If buyer surplus in the external market is low, local surplus is better provided … by local oligopoly, but moves against external surplus; if it is high, local and external surplus co-move, and local …

by a monopoly owned by the inventor. We show that philanthropy does not necessarily increase long-run growth and that it …

Economic theory suggests that monopoly prices hurt consumers but benefit shareholders. But in a world where individuals …

solution. Then we consider a monopoly. Market power affects both output and sugar content, possibly in opposite directions, and …

A fundamental result in the theory of commodity taxation is that taxes increase consumer prices and reduce supply …