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| Author: | Kiyono, K. |
| Title: | Market structure and conduct: generalized industry performance gradient indexes for oligopoly markets. |
| Journal: | Economic Studies Quarterly
1993 : SEP, VOL. 44:3, p. 242-249 |
| Index terms: | MARKET STRUCTURE COSTS OLIGOPOLY WELFARE |
| Language: | eng |
| Abstract: | This paper generalizes Dansby-Willig's industry performance gradient index so as to explicitly relate the maximal feasible welfare improvement rate in imperfectly competitive markets with the number of firms perceiving market power and the industry-wide distribution of marginal costs. Two examples of the proposed index are fully explored to obtain two results: (i) the greater number of oligopolistically behaving firms lowers but (ii) the greater variance of the marginal-cost distribution over the industry increases the maximal feasible rate of welfare improvement. |
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