Though it is generally believed that increasing competition improves social welfare, we are able to show with a Shubik …–Levitan demand function for differentiated goods that this is not always the case. Under Cournot and Bertrand competition, market … and the equilibrium cannot achieve even the second‐best social welfare under either type of competition, regardless of …

This paper explores competition in the post 1996 long distance telephony market by employing an unusually detailed …

introduce process innovations to lower their production costs. Product innovations introduce an escape-competition effect … coevolution of market and network structure matter for the relationship between competition and innovation. Moreover, our model … to different levels of competition in these industries. …