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This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … excess of 10 US$ trillions (against $3 trillions of profits). Oligopoly lowers total surplus by 11.5% and depresses consumer …
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an n to an n-1 player oligopoly after a merger in the industry. Competitors are identified via the European Commission s … the merger effect. We obtain results consistent with the predictions of standard oligopoly models: non-merging rivals …
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We develop a two-stage game in which competing airlines first choose the networks of markets to serve in the first stage before competing in price in the second stage. Spillovers in entry decisions across markets are allowed, which accrue on the demand, marginal cost, and fixed cost sides. We...
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