Southern Economic Journal
Опубликовано на портале: 11-09-2003
S. Charles Maurice
Southern Economic Journal.
1974.
Vol. 41.
No. 2.
P. 283-287.
This paper rigorously examines within the mathematical
model of monopsony the effect upon cost, output, and input usage of a minimum wage
imposed upon the monopsonized factor of production.
Опубликовано на портале: 31-03-2003
Dean A. Worcester
Southern Economic Journal.
1973.
Vol. 40.
No. 2.
P. 234-245.
The estimates of welfare loss to monopoly reported here are substantially lower than
anticipated when this research was undertaken. The cumulative bias introduced to
overestimate the size of the welfare loss should, it seemed a priori, produce an
estimated welfare loss of at least 5 percent. I can only conclude that there is very
little ground for the common belief that a large loss of welfare exists due to the
economic impact of monopoly power. It is possible that the fault lies with the measurements
and not with the (viscerally sensed) reality, but as a social scientist I believe
that the burden of proof now rests on those who believe the loss is large. A reallocation
of economists' time toward the public sector may be indicated. Greater welfare losses
to misallocation may exist as a consequence of such government activities as oil
import quotas, water diversion schemes, standards enforced to safeguard common property
resources such as air, water, and fish, and other programs asserted to be
in the public rather than the private interest. [Авторский текст]
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