We present a model of entry and exit with Bayesian learning and price competition. A new product of initially unknown … quality is introduced in the market, and purchases of the product yield information on its true quality. We assume that the …

learning and turnover among buyers. …

Conventional deadweight loss measures of the social cost of monopoly ignore, among other things, the social cost of … method of measuring the social cost of monopoly. Using elements of general equilibrium theory, we propose a social cost … of our approach for antitrust law as well as how our methodology can be used in practice for allegations of monopoly …

relative to A. Hence, absent strong antitrust or intellectual property protections, the A firm can leverage its monopoly into B … substitute for Netscape; in our model, this maximizes Microsoft's joint monopoly profits. Furthermore, Microsoft has no incentive … complementary products, which suggests that a monopoly internet service provider will offer net neutrality. There are other means …

A general equilibrium analysis of monopoly power is proposed as an alternative to the partial equilibrium analyses of … inequalities over market data from observations on a market economy with competitive factor markets. The social cost of monopoly …

An applied general equilibrium analysis of monopoly power is proposed as an alternative to the partial equilibrium … analyses of monopoly pricing current in antitrust economics. This analysis introduces a new notion of market equilibrium where … firms with monopoly power are cost-minimizing price-takers in competitive factor markets and make supracompetitive profits …