We study the percentage of welfare losses (PWL) yielded by imperfect competition under product differentiation. When demand is linear, if prices, outputs, costs and the number of firms can be observed, PWL is arbitrary in both Cournot and Bertrand equilibria. If in addition, the elasticity of...

This book provides a complete and up-to-date treatment of the Theories of Imperfectly Competitive Markets. In its five chapters, the book deals with Nash equilibrium in aggregative games, comparative statics in aggregative games, welfare and Cournot competition, monopolistic competition and two...