Market Power, Economic Efficiency and the Lerner Index

The book uses distance functions, a generalization of the more familiar production function, as the theoretical and empirical tools to construct Lerner indexes of market power in both the input and output markets. The use of distance functions enables us to explicitly account for the effects of firm inefficiency and price markups in the evaluation of market power. The book focusses on the theory and provides a menu of applications to construct measures...

• Format: Hardcover
• Language: English
• ISBN: 9811285926
• ISBN13: 9789811285929
• Release Date: March 2024
• Publisher: World Scientific Publishing Company
• Length: 148 Pages
• Weight: 0.82 lbs.
• Dimensions: 0.4" x 6.0" x 9.0"