IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-540-79247-5_4.html
   My bibliography  Save this book chapter

Misleading Calculations of The Social Costs of Monopoly Power

In: 40 Years of Research on Rent Seeking 2

Author

Listed:
  • S. C. Littlechild

    (University of Birmingham)

Abstract

It has long been thought that monopoly is ‘bad’, but only comparatively recently have economists attempted to measure ‘how bad’. The first and most influential of such studies (Harberger, 1954) found that the welfare losses attributable to monopoly were surprisingly small — of the order of one tenth of one percent of national income in the United States during the 1920s.

Suggested Citation

  • S. C. Littlechild, 2008. "Misleading Calculations of The Social Costs of Monopoly Power," Springer Books, in: Roger D. Congleton & Kai A. Konrad & Arye L. Hillman (ed.), 40 Years of Research on Rent Seeking 2, pages 89-104, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79247-5_4
    DOI: 10.1007/978-3-540-79247-5_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mueller, Dennis C., 1996. "Lessons from the United States's antitrust history," International Journal of Industrial Organization, Elsevier, vol. 14(4), pages 415-445, June.
    2. Fukuyama, Hirofumi & Matousek, Roman & Tzeremes, Nickolaos G., 2023. "Estimating the degree of firms’ input market power via data envelopment analysis: Evidence from the global biotechnology and pharmaceutical industry," European Journal of Operational Research, Elsevier, vol. 305(2), pages 946-960.
    3. Ruslan A. Samsonov & Sergey N. Bocharov, 2019. "Systematic rent in global value chains," Upravlenets, Ural State University of Economics, vol. 10(6), pages 2-14, December.
    4. Varios autores, 2015. "Colección Enrique Low Murtra: Derecho económico. Tomo X," Books, Universidad Externado de Colombia, Facultad de Derecho, number 1018, htpr_v3_i.
    5. Alice Guerra & Barbara Luppi & Francesco Parisi, 2019. "Productive and unproductive competition: a unified framework," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(3), pages 785-804, October.
    6. Arye L. Hillman & Heinrich W. Ursprung, 2016. "Where are the rent seekers?," Constitutional Political Economy, Springer, vol. 27(2), pages 124-141, June.
    7. John Stanley Metcalfe & Ronnie Ramlogan, 2007. "Competition and the Regulation of Economic Development," Chapters, in: Paul Cook & Raul Fabella & Cassey Lee (ed.), Competitive Advantage and Competition Policy in Developing Countries, chapter 2, Edward Elgar Publishing.
    8. Kamath Shyam J., 1994. "Privatization: A Market Prospect Perspective," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 5(1), pages 53-104, March.
    9. Yao, Shuntian & Gan, Lydia, 2010. "Monopoly innovation and welfare effects," Economics Discussion Papers 2010-10, Kiel Institute for the World Economy (IfW Kiel).
    10. D. P. T. Young, 2000. "Firms' Market Power, Endogenous Preferences and the Focus of Competition Policy," Review of Political Economy, Taylor & Francis Journals, vol. 12(1), pages 73-87.
    11. J.H.L. Dewhurst, 2000. "Foreign Direct Investment and Development-agency Intervention: A Theoretical Model," Urban Studies, Urban Studies Journal Limited, vol. 37(3), pages 497-511, March.
    12. Alcalde, José & Dahm, Matthias, 2010. "Rent seeking and rent dissipation: A neutrality result," Journal of Public Economics, Elsevier, vol. 94(1-2), pages 1-7, February.
    13. Paz Estrella Tolentino, 2000. "The Conduct of Industrial Policy in an Integrated Europe," International Review of Applied Economics, Taylor & Francis Journals, vol. 14(3), pages 391-401.
    14. George G. Djolov, 2004. "Market Power And The Pharmaceutical Industry In South Africa," Economic Affairs, Wiley Blackwell, vol. 24(2), pages 47-51, June.
    15. Pousette, Tomas, 1983. "Monopoly and Allocative Efficiency with Stochastic Demand," Working Paper Series 84, Research Institute of Industrial Economics.
    16. Shuntian Yao & Lydia L. Gan, 2006. "The Welfare Effects of Monopoly Innovation," Economic Growth Centre Working Paper Series 0609, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-540-79247-5_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.