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- Title
Production Efficiency and Income Distribution with Competition Induced by Antitrust Measures.
- Authors
Stauvermann, Peter Josef; Kumar, Ronald Ravinesh
- Abstract
We use a three-sector overlapping generations model to examine the efficiency characteristics and income distribution in the long-run steady-state equilibrium. Assuming two sectors produce intermediate goods within an oligopolistic competition, we explore the implications for production efficiency and income distribution, given an increase in competition induced by antitrust measures. Our analysis presents the possibility of steady-state welfare under imperfect competition surpassing that of perfect competition when declining competition leads to a redistribution of income from older to younger generations. Nevertheless, greater competition (within oligopoly competition) consistently results in a more equitable income distribution.
- Subjects
INCOME distribution; IMPERFECT competition; INCOME redistribution; ANTITRUST law
- Publication
Journal of Risk & Financial Management, 2023, Vol 16, Issue 9, p399
- ISSN
1911-8066
- Publication type
Article
- DOI
10.3390/jrfm16090399