The Concept of Monopoly and the Measurement of Monopoly Power

Lerner. (1934). The Concept of Monopoly and the Measurement of Monopoly Power. The Review of Economic Studies.

Type

Journal article

Intellectual base

Review or monograph

Year

1934

DOI

10.2307/2967480

Link

https://doi.org/10.2307/2967480

Cited by

1 citation across 1 artifact.

Domain-specific

• Market power
  • The canonical diagnostic is the Lerner index — (P − MC) / P — which is zero under perfect competition and positive wherever market power exists, with its value equal to the reciprocal of the absolute price elasticity of demand facing the firm

Verification

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Registry ID ref:ec9d8a16f8e6 · see in the full table