Monday, June 16, 2008
Posted by D. Daniel Sokol
Erdal Gumus, Eskisehir Osmangazi University - Department of Public Finance, addresses The Social Costs of Monopoly: A Survey and an Evaluation in a new working paper.
ABSTRACT: Existence of monopoly and its costs to societies have been intensely studied. However, there has been no clear view obtained yet. Studies of rent-seeking approach of the public choice school even make the issue more interesting. This paper surveys from traditional Harberger's triangle approach of social costs of monopoly to the most recent studies and drive some conclusions from it.