Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159565
Authors: 
Bacchiega, Emanuele
Year of Publication: 
2011
Series/Report no.: 
Quaderni - Working Paper DSE 724
Abstract: 
We argue that it is the number of agents holding market power, rather than the presence of market power itself, that may force Ricardian economies into autarchy. We apply the concepts of monopoly equilibrium by Baldwin (1948) to the model of Cordella and Gabszewicz (1997) to show that, differently from the oligopoly case, trade always arises at a monopoly equilibrium whereas autarchy is never an outcome. As a consequence, monopoly Pareto-dominates oligopoly.
JEL: 
F10
D42
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

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