presence of more firms may reduce welfare. …

We investigate the welfare effect of union activity in a relatively new oligopoly model, the Cournot-Bertrand model … help explain why the empirical evidence does not support any one model of union bargaining. We also examine the welfare and …

correlation among costs. Experimental welfare losses in both treatments are higher than the equilibrium prediction owing to a …

We consider the price and welfare effects of competition in targeted product design, in the context of the Salop circle … associated with the possibility of lower consumer welfare. With endogenous firm entry, an interesting insight from our analysis … reduce consumers' welfare …

and welfare. Using a spokes model of horizontal competition, I show that review aggregators enhance total welfare mainly … by making valuable information available to consumers. The effect on welfare goes through different channels: 1) realised …

country affects the amount of home language content and the country's welfare. We address this question by studying two … find that bilingualism mostly increases consumer surplus but can reduce domestic producer surplus. The welfare effect of …

by the multi-product firm. Bundling drives prices up, and not only consumer surplus, but also social welfare shrinks …

. Our main result is that network effects create a fundamental conflict between the maximization of social welfare and … welfare is highest in the asymmetric equilibrium. We also show that both consumer surplus and social welfare are higher in any …

microfoundations, the welfare consequences of rent seeking can be studied. In particular, I show that competition among rent seekers …

social welfare between fixed-mobile intermodal competition, fixed perfect competition and mobile perfect competition indicate … that the fixed-mobile intermodal competition leads to a higher level of social welfare …