This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … extent of competition from substitute products. I estimate that, in 2019, public corporations produced consumer surplus in … excess of 10 US$ trillions (against $3 trillions of profits). Oligopoly lowers total surplus by 11.5% and depresses consumer …

Under the regime of Regulation 1/2003 on the implementation of the rules of competition laid down in Articles 101 and … 102 TFEU undertakings are obliged to take care by themselves of their compliance with the competition rules. For practical … approach" to competition law, the Commission has published a number of guidelines which are setting out the relevant criteria …

The model of perfect competition is one of the most famous, most important, and most misunderstood concepts in … economics. Rather than aiming to be a full-blown model of real-world competitive markets, the perfect competition model isolates … only feature of market competition, but it plays a central role regarding to its virtues, and understanding the working …