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| Title: | | Monopoly innovation and welfare effects  |
| Authors: | | Yao, Shuntian Gan, Lydia |
| Issue Date: | | 2010 |
| Series/Report no.: | | Economics Discussion Papers 2010-10 |
| Abstract: | | In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models with non-price-taking behavior are constructed and analyzed in greater detail. We discover that technical innovation carried out by a monopolist could significantly increase the social welfare. We conclude that, in general, the criticism against monopoly innovation based on its increased deadweight loss is less accurate than previously postulated by many studies. |
| Subjects: | | Monopoly social welfare technical innovation general equilibrium |
| JEL: | | D50 D60 |
| Creative Commons License: | |  |
| Document Type: | | Working Paper |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers
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