Economic theory suggests that monopoly prices hurt consumers but benefit shareholders. But in a world where individuals …

Economic theory suggests that monopoly prices hurt consumers but benefit shareholders. But in a world where individuals …

This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product …

economics. Rather than aiming to be a full-blown model of real-world competitive markets, the perfect competition model isolates … mechanism of this coordination is valuable for economic thinking and economic theory. However, the implications of the perfect … distinguishable types. This contribution explains absolute market power (single-firm monopoly and dominance), collective market power …