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An Elasticity Measure Of Welfare Loss In Symmetric Oligopoly

By T. James and J. McHardy

Abstract

We derive a measure of welfare loss as a proportion of the value of sales under quantity-setting symmetric oligopoly in terms of the equilibrium industry price elasticity of demand, the number of firms in the industry and a conjectural variation term in the context of the standard linear model. This generalises the monopoly measure in James and McHardy (1997).\u

Publisher: Department of Economics, University of Sheffield
Year: 2009
OAI identifier: oai:eprints.whiterose.ac.uk:10009

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