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The cost of monopoly on Australian manufacturing

Dixon, Robert, Gunther, Alan and Mahmood, Muhammad (2001) The cost of monopoly on Australian manufacturing. The Australian Economic Review, 34 (4). pp. 390-402. ISSN 0004-9018

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In this article we present new estimates of the degree of welfare loss resulting from monopoly elements in Australian manufacturing. The measure suggested by Cowling and Mueller is modified to take into account the presence of oligopolistic firms, which are imperfectly collusive. One conclusion of our article is that the social costs of monopoly in Australia are likely to be substantially higher than previous estimates have suggested. We also look at the characteristics of the industries which have high ratios of welfare loss by industry. There appears to be a (weak) relation between the size of the welfare loss and the degree of concentration in the industry.

Item Type: Article
Uncontrolled Keywords: monopoly, Australian manufacturing, welfare, Cowling and Mueller, econometric
Subjects: Historical > RFCD Classification > 340000 Economics
Historical > Faculty/School/Research Centre/Department > School of Economics and Finance
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Depositing User: Ms Phung T Tran
Date Deposited: 23 Dec 2008 23:04
Last Modified: 26 Jul 2011 00:52
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Citations in Scopus: 2 - View on Scopus

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