Conventional deadweight loss measures of the social cost of monopoly ignore, among other things, the social cost of inducing competition and thus cannot accurately capture the loss in social welfare. In this Article, we suggest an alternative method of measuring the social cost of monopoly....

This paper models a generalized form of monopolistic competition such that consumers are differentiated horizontally by taste while firms are differentiated vertically by quality location. Consumers have quadratic transportation costs of disutility from consuming a non-ideal brand, and firms are...

The analysis is motivated by the observation that foreign direct investment (FDI) is in reality a heterogeneous flow of funds, composed of both greenfield-FDI ('greenfield investment') and acquisition-FDI (cross-border mergers and acquisitions), although previous game-theoretic analyses have...

Economic analysis of competition regulation is most developed in the domain of horizontal mergers, and modern agency guidelines reflect a substantial consensus on the appropriate template for merger assessment. Nevertheless, official protocols are understood to rest on a problematic market...

We develop a tractable general equilibrium framework in which firms are large and have market power, with respect to both products and labor, and in which a firm's decisions are affected by its ownership structure. We characterize the Cournot--Walras equilibrium of an economy where each firm...

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...

This article provides a simple account of the effect of quality competition on the extent of sequential entry accommodation for a differentiated oligopoly market characterized by locational differentiation. The model is solved with consumers seeking a “love for quality” surplus utility while...