An Elasticity Measure of Welfare Loss in Symmetric Oligopoly

Tim James and Jolian McHardy

No 2009013, Working Papers from The University of Sheffield, Department of Economics

Abstract: We derive a measure of welfare loss as a proportion of the value of sales under quantity-setting symmetric oligopoly in terms of the equilibrium industry price elasticity of demand, the number of firms in the industry and a conjectural variation term in the context of the standard linear model. This generalises the monopoly measure in James and McHardy (1997).

Keywords: Oligopoly; Welfare loss; Elasticity (search for similar items in EconPapers)
JEL-codes: D60 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2009-06, Revised 2009-06
New Economics Papers: this item is included in nep-com, nep-ind and nep-mic
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