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| Title: | | Monopoly innovation and welfare effects  |
| Authors: | | Yao, Shuntian Gan, Lydia |
| Issue Date: | | 2010 |
| Citation: | | [Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 4 [Issue:] 2010-27 [Pages:] 1-21 [URL:] http://dx.doi.org/10.5018/economics-ejournal.ja.2010-27 |
| Series/Report no.: | | Economics 2010-27 |
| 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 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 technical innovation welfare effects general equilibrium |
| JEL: | | D50 D60 |
| Persistent Identifier of the first edition: | | doi:10.5018/economics-ejournal.ja.2010-27 |
| URL of the first edition: | | http://dx.doi.org/10.5018/economics-ejournal.ja.2010-27 |
| Creative Commons License: | |  |
| Document Type: | | Article |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles
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