Who Bids the Most for Market Power?

Rodney Fort and William Hallagan

Economic Inquiry, 1987, vol. 25, issue 4, 671-80

Abstract: In the traditional industrial organization literature, market structure is an exogenous variable. However, sometimes market structure is a matter of choice. Firms can choose to operate as monopolists, but only if they pay for this right. When market structure is chosen, a natural question is, "Wh at types of firms will pay the price to operate as monopolists, and h ow will they differ from their competitive counterparts?" This paper develops a model which addresses this question and arrives at result s that are novel when compared to the results of the traditional stru cture-conduct-performance paradigm. Copyright 1987 by Oxford University Press.

Date: 1987
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