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Title:Monopoly innovation and welfare effects PDF Logo
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
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
Creative Commons License:http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type:Article
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles

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