This paper studies the welfare consequences of a vertical merger that raises rivals costs when downstream competition … is à la Cournot between firms with constant asymmetric marginal costs. The main result is that such a vertical merger can … nevertheless improve welfare if it involves a downstream firm whose cost is low enough . This is because by raising the input price …

literature, its welfare impact for source country residents - or non-migrants - is at best ambiguous. Increased educational …) - whose well-being is a concern for the government - is ambiguous or negative. I compare residents' welfare a) for an open vs … intervention; ii) optimal education policy has a positive or ambiguous impact on residents' welfare (and a positive impact under a …

about how to interpret the estimated capitalization effects as changes in welfare. Following an approach developed by … significant differences in both the capitalization effects and welfare changes associated with the school redistricting. …

, countrywide profits, and welfare. Firms face resource constraints and wages are simultaneously determined. Relative to free trade … technology. Domestic welfare is unambiguously penalized. Hence, the general-equilibrium cross-sector perspective goes against the …

This paper develops a three-stage model of innovation, fixed-fee licensing and production to evaluate the welfare … an ambiguous effect on total welfare, but it is more likely to increase total welfare in industries which are naturally …. These welfare results hold independently of whether R&D incentives in the absence of licensing favour the leading firm …

This paper shows that the welfare dominance of ad valorem over unit taxes under imperfect competition, extends to the …

setting the two policy instruments have different welfare effects. For a strong green policy (a severe reduction of the dirty …

entry and raises welfare. Furthermore, we show that collective bargaining loosens the linkage between business stealing and …

We study welfare effects of horizontal mergers under a successive oligopoly model and find that downstream mergers can … increase welfare if they reduce input prices. The lower input price shifts some input production from cost- inefficient … upstream entrants, and decreases their average costs in the presence of fixed entry costs. We identity necessary and sufficient …

opportunism and collective values. Shadow markets may, however, enhance consumer welfare by limiting the pricing power of firms …