Description:
Oxford ; New York : Oxford Univrsity Press, 1995. First Edition. Hardcover. Fine cloth copy in a very good, slightly dust-dulled dust-wrapper. Remains particularly well-preserved overall; tight, bright, clean and strong. Physical description : xii,281p ; 24cm. Notes : Includes bibliographical references. Subjects : Competition. Industrial policy. Free trade. Welfare economics.
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Competition, Commitment, and Welfare Unknown - 1995
by Suzumura, Kotaro
From the rear cover
This book examines one of the classical issues in theoretical welfare economics in general, and in theoretical industrial organization in particular - namely, the welfare effects of increasing competition among firms. In the orthodox literature on welfare economics and industrial organization, the desirability of competition in terms of social welfare, an idea which can be traced back to Adam Smith, is widely accepted, resulting in the policy-relevant belief that by increasing competition we can always improve social welfare. However, this orthodox view is challenged by another piece of conventional wisdom which is widely held among industrial policy authorities as well as people in business. According to this view, the adage 'doing to excess is as bad as not doing enough' is applicable to the welfare effects of competition as well, and government intervention for the purpose of controlling the damage caused by 'excessive competition' is proper and justified. The author examines whether promoting competition is indeed welfare-improving, or whether there exists any systematic cause for excessive competition which can be identified in the standard framework of welfare economics. Two questions are posed in looking at these issues: Can competition ever be excessive in the welfare-theoretic sense? Can policy intervention in the name of keeping excessive competition under control be justified? Starting from an elementary model of oligopoly and introducing several complexities step by step, the author shows that, for a wide class of situations where economies of scale prevail, competition can certainly be excessive in the welfare-theoretic sense, but that regulation of competition may causeserious distortions of its own. The latter distortions, he argues, should be weighed against market distortions arising from excessive competition before prescribing a policy mix of competition and regulation. Those who are interested in the proper role of industrial and competition policies in the market economics will find these theoretical results both illuminating and suggestive.
Details
- Title Competition, Commitment, and Welfare
- Author Suzumura, Kotaro
- Binding unknown
- Publisher Oxford University Press, USA
- Date 1995-05
- Features Bibliography, Illustrated, Index
- ISBN 9780198289142
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Competition, commitment, and welfare / Kotaro Suzumura
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Competition, Commitment, and Welfare
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Clarendon Press, 1995. This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. In good all round condition. No dust jacket. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,700grams, ISBN:0198289146
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Competition, Commitment, and Welfare
by Kotaro Suzumura
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Oxford: Clarendon Press, 1995. Hardcover. Good Condition. Dust jacket is fully intact, only lightly rubbed at edges. Internally clean and fresh. Otherwise, in good overall condition. xii, 281. Shipped Weight: Under 1 kilo. Category: Economics; Welfare economics; Competition; Free trade; Industrial policy; Name; ISBN: 0198289146. ISBN/EAN: 9780198289142. Add. Inventory No: 231024DHAC02021. . 9780198289142
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Competition, Commitment, and Welfare
by Suzumura, Kotaro
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hardcover. Good. Access codes and supplements are not guaranteed with used items. May be an ex-library book.
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