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CONSUMER EXPENDITURE AND DISPOSABLE INCOME: TWO NEGLECTED ISSUES |
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Bulletin of Economic Research,
Volume 43,
Issue 4,
1991,
Page 299-330
Vani K. Borooah,
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ISSN:0307-3378
DOI:10.1111/j.1467-8586.1991.tb00500.x
出版商:Blackwell Publishing Ltd
年代:1991
数据来源: WILEY
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PRICE AND WELFARE EFFECTS OF OLIGOPOUSTIC MERGERS |
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Bulletin of Economic Research,
Volume 43,
Issue 4,
1991,
Page 331-354
F. William McElroy,
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PDF (1244KB)
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摘要:
ABSTRACTWhen oligopolists merge, the new firm enjoys a lower cost structure than any of its premerger constituent parts. This is because of rationalization economies which are created as facilities previously operated at disparate marginal cost levels come under common control. The resultant price‐decreasing force is countered by the loss of competition due to the merger. The latter can stem not only from reduction in the number of competitors, but also from the possibility that, with a more concentrated market structure, firms’conjectures about each others’reactions will move in the direction of being more cooperative. The paper shows that, under normal conditions, the effects of diminished competition outweigh those of rationalization so that a price increase will result from the merger. In addition, the equivalence of merger to the imposition of taxes is exploited to derive a market‐share based test for mergers to cause welfare decreases. This complements a test proposed by Farrell and Shapiro that works only for welfare in
ISSN:0307-3378
DOI:10.1111/j.1467-8586.1991.tb00501.x
出版商:Blackwell Publishing Ltd
年代:1991
数据来源: WILEY
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3. |
THE WELFARE EFFECTS OF MULTIPLE RATIONING1 |
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Bulletin of Economic Research,
Volume 43,
Issue 4,
1991,
Page 355-360
Alistair Munro,
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PDF (315KB)
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ISSN:0307-3378
DOI:10.1111/j.1467-8586.1991.tb00502.x
出版商:Blackwell Publishing Ltd
年代:1991
数据来源: WILEY
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