Economies as an Antitrust Defense¶
Williamson, O. E. (1968). Economies as an Antitrust Defense: The Welfare Tradeoffs.
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1 citation across 1 artifact.
Domain-specific¶
- Williamson tradeoff model
- The Williamson tradeoff model evaluates a horizontal merger by comparing two opposing changes in total economic surplus: production-cost savings created by merger efficiencies and welfare losses created when increased market power raises price and reduces output.
SupportedVerified against the work's full text
Williamson 1968 supplies both halves of the tradeoff: the dead-weight loss from a merger-induced price increase and the offsetting efficiency cost savings.
“The net welfare effects of the merger are given (approximately) by the two shaded areas in the Figure. The area designated A1 is the familiar dead-weight loss that would result if price were increased from P1 to P2, assuming that costs remain constant.”
- The Williamson tradeoff model evaluates a horizontal merger by comparing two opposing changes in total economic surplus: production-cost savings created by merger efficiencies and welfare losses created when increased market power raises price and reduces output.
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