All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC

 
Takanori Adachi and Leer Bao
 
''Chicago price theory meets imperfect competition: A common ownership approach''
( 2022, Vol. 42 No.4 )
 
 
In this paper, we provide a formulation of how imperfect competition in the product market is incorporated into the industry model described in Chapter 11 of Chicago Price Theory (Jaffe, Minton, Mulligan, and Murphy 2019, CPT). A generalized version of the perturbed system of the industry is shown and used to analyze the effect of a wage increase in the long-run as well as in the short-run in relation to the intensity of competition.
 
 
Keywords:
JEL: L1 - Market Structure, Firm Strategy, and Market Performance: General
D4 - Market Structure and Pricing: General
 
Manuscript Received : Aug 23 2022 Manuscript Accepted : Dec 30 2022

  This abstract has been downloaded 62 times                The Full PDF of this paper has been downloaded 154263 times