to charge the monopoly price. This paper compares a Demsetz auction, which awards an exclusive contract to the agent … bidding the lowest price (competition for the field) with having two agents provide the good under (imperfectly) competitive … independent of the particular duopoly game played ex post. We apply this condition to three canonical examples -- procurement …

breakthrough innovations. So long as the entry and exit of firms using the generic technology sets the price in an industry, one or … more price-taking firms can coexist with proprietary technologies yielding more or less substantial quasi-rents to the sunk … price is reduced and output increased. If the technological breakthrough is sufficiently large for the innovator to drive …

, price discrimination, and exclusion. Our analysis shows how a monopolist sometimes has an incentive to tie a complementary …

foreign monopoly firm by presenting a generalization of the offer curve. The paper demonstrates the existence of a partial … consequences: when trading with a foreign monopoly firm a nation implementing such a policy will achieve only its autarky level of …

in selection markets that parameterizes the degree of both market power and selection and use graphical price …

This paper develops a general theory of aggregation in inefficient economies. We provide non-parametric formulas for …%, increasing the economy-wide cost of monopoly distortions by two orders of magnitude compared to the famous 0.1% estimate by …