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Social Costs of Monopoly and Regulation
Posner, Richard A. - 1974
IV explores the implications of the analysis for a variety of issues relating to monopoly and public regulation, such as …, suffer a loss, that is not offset by gains to the monopolist. This is the "deadweight loss" from monopoly, and in … conventional analysis the only social cost of monopoly. The loss suffered by those who continue to buy the product at the higher …
Persistent link: https://www.econbiz.de/10012479071
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Benchmark Regulation of Multiproduct Firms : An Application to the Rail Industry
Wilson, Wesley W. - 2018
industries subject to residual price regulation. Our empirical analyses demonstrate how the mechanism can be used to fulfill the …
Persistent link: https://www.econbiz.de/10012480919
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Multi-Product Firms in Electricity Markets : Implications for Climate Policy
Buchsbaum, Jesse F. - 2020
In electricity markets, generators are rewarded both for providing energy and for enabling grid reliability. The two functions are compensated in separate markets: energy markets and ancillary services markets. We provide evidence of changes in the fuel mix in the energy market that is driven by...
Persistent link: https://www.econbiz.de/10012482246
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Assessing the Anticompetitive Effects of Multiproduct Pricing
Carlton, Dennis W. - 2008
In response to the "standardless" approach used in LePage's v. 3M, the Antitrust Modernization Commission (AMC) and others advocate using a discount allocation approach to assess whether bundled loyalty discounts violate Section 2 of the Sherman Act. This approach treats loyalty discounts like...
Persistent link: https://www.econbiz.de/10012464448
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Optimal Choice of Product Scope for Multiproduct Firms under Monopolistic Competition
Feenstra, Robert - 2007
In this paper we develop a monopolistic competition model where firms exercise their market power across multiple products. Even with CES preferences, markups are endogenous. Firms choose their optimal product scope by balancing the net profits from a new variety against the costs of...
Persistent link: https://www.econbiz.de/10012464943
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Multi-Product Firms and Trade Liberalization
Bernard, Andrew B. - 2006
This paper develops a general equilibrium model of multi-product firms and analyzes their behavior during trade liberalization. Firm productivity in a given product is modeled as a combination of firm-level "ability" and firm-product-level "expertise", both of which are stochastic and unknown...
Persistent link: https://www.econbiz.de/10012465880
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The Cost of Diversity : The Diversification Discount and Inefficient Investment
Rajan, Raghuram - 1998
In a simple model of capital budgeting in a diversified firm where headquarters has limited power, we show that funds are allocated towards the most inefficient divisions. The distortion is greater the more diverse are the investment opportunities of the firm's divisions. We test these...
Persistent link: https://www.econbiz.de/10012472450
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Costs, Institutional Mobility Barriers, and Market Structure : Advertising Agencies as Multiproduct Firms
Silk, Alvin J. - 1994
What accounts for the diversity and limited concentration that has long characterized the organization of the advertising agency industry? This question is addressed by treating an advertising agency as a multiproduct firm. The firm's product line or service mix is defined in terms of the set of...
Persistent link: https://www.econbiz.de/10012474089
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The Structure of Production, Technical Change and Efficiency in a Multiproduct Industry : An Application to U.S. Airlines
Good, David H. - 1991
In this paper we construct a short run model of the firm describing the behavior of thirteen U.S. airlines during the difficult transition to deregulation. Several modeling scenarios are developed to assess three common assumptions in cost studies: the use of time as a proxy for technological...
Persistent link: https://www.econbiz.de/10012475045
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Economic Capacity Utilization and Productivity Measurement for Multi-product firms with multiple quasi-fixed inputs
Berndt, Ernst R. - 1989
In this paper we develop measures of economic capacity output and economic capacity utilization for firms producing multiple outputs and having one or .ore quasi-fixed inputs. Although we produce an impossibility theorem showing that based only on the assumption of cost minimization, the concept...
Persistent link: https://www.econbiz.de/10012476121