Oligoemporistic Competition and the Countervailing Power Hypothesis

E. C. H. Veendorp

Canadian Journal of Economics, 1987, vol. 20, issue 3, 519-26

Abstract: The oligoemporistic competition model developed in this paper describes a market situation where ma rket power is exercised by a subset of traders on both sides of the m arket. It is shown that countervailing power will merely assure that the price level will coincide with the competitive one, but that the allocation of resources can always be improved upon by decreased conc entration on either side of the market.

Date: 1987
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