Economics, Econometrics and Finance
8 years ago

Monopoly innovation boosts social welfare, challenges criticism on deadweight loss.

Economics
Monopoly Innovation and Welfare Effects
Shuntian Yao, Lydia L. Gan

Paper Summary

Related papers

Theme background image
Agricultural and Biological Sciences
4 years ago

Liberalizing agricultural trade could boost global welfare and food security.

Agricultural Policy
Trade Impact
Food Prices
2 views
Theme background image
Agricultural and Biological Sciences
4 years ago

Farmers Rejoice as EU Scraps Costly Agricultural Subsidies, Boosting Welfare

Agricultural Policy
Trade Impact
Environmental Impact
2 views
Economics, Econometrics and Finance
4 years ago

Rent-Seeking Distortions Exceed Welfare Costs, Challenging Economic Assumptions

Infrastructure Impact
Monetary Models
Economic Behavior

Monopoly innovation can actually benefit society by increasing overall welfare. By looking at the bigger picture instead of just focusing on specific cases, researchers found that technical advancements made by a single company can lead to positive outcomes for everyone. Previous concerns about monopoly innovation causing more harm than good may not be as accurate as believed.