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If there is a shift of market power from manufacturers to retailers or from retailers to manufacturers, how are consumers affected? When the value chain has successive firms that each have market power, the shifting balance of power up or down the chain (away from the consumer or towards the...
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This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...
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1. Monopoly -- 2. Simultaneous quantity competition -- 3. Simultaneous price competition -- 4. Sequential competition … detailed answer keys. While most textbooks on industrial organization focus on theory and empirical findings, this textbook … different models of firm behavior and interaction; starting with monopoly and moving through the Cournot model of simultaneous …
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This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product …
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