✦ LIBER ✦
The welfare costs of monopoly are larger than you think
✍ Scribed by Dwight R. Lee; Robert D. Tollison
- Publisher
- John Wiley and Sons
- Year
- 2010
- Tongue
- English
- Weight
- 96 KB
- Volume
- 32
- Category
- Article
- ISSN
- 0143-6570
- DOI
- 10.1002/mde.1511
No coin nor oath required. For personal study only.
✦ Synopsis
We show that monopoly is the parent of monopsony when an industry employs specialized resources. This means that the welfare loss from monopoly and monopolization is larger than commonly portrayed.