Structure,conduct, performance,and welfare |
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| Authors: | Sherrill Shaffer |
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| Affiliation: | 1. Federal Reserve Bank of Philadelphia, 10 Independence Mall, 19106, Philadelphia, PA, USA
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| Abstract: | This paper extends previous analysis of weaknesses of the structure-conduct-performance paradigm and of the price-cost margin as a measure of performance. Sufficient conditions are established under which monotonic linkages may not exist between virtually any two of social welfare, its individual components, structure, conduct, or performance. |
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