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X‐inefficiency and market power
Author(s) -
Ashton R. K.
Publication year - 1987
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.4090080410
Subject(s) - inefficiency , market power , economics , theory of the firm , microeconomics , face (sociological concept) , power (physics) , industrial organization , physics , monopoly , social science , quantum mechanics , sociology
This paper argues that dominant firms (those firms which, according to the theory, can tolerate inefficiency) face a number of external and internal constraints which force them to act more like the competitive firm assumed in neoclassical theory.