Fiche du document
1 avril 2015
- handle: 10670/1.sew3f1
- isbn: 978-1-61016-593-8
- halshs: halshs-01182289
info:eu-repo/semantics/OpenAccess
Mots-clés
monopoly price interventionism elasticity of demand economies of scale perfect competition monopolistic competition price theory Austrian microeconomics B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B5 - Current Heterodox Approaches/B.B5.B53 - Austrian D - Microeconomics/D.D4 - Market Structure, Pricing, and Design/D.D4.D42 - Monopoly D - Microeconomics/D.D4 - Market Structure, Pricing, and Design/D.D4.D43 - Oligopoly and Other Forms of Market Imperfection L - Industrial Organization/L.L1 - Market Structure, Firm Strategy, and Market Performance/L.L1.L12 - Monopoly • Monopolization Strategies L - Industrial Organization/L.L1 - Market Structure, Firm Strategy, and Market Performance/L.L1.L13 - Oligopoly and Other Imperfect Markets L - Industrial Organization/L.L4 - Antitrust Issues and Policies/L.L4.L41 - Monopolization • Horizontal Anticompetitive Practices L - Industrial Organization/L.L4 - Antitrust Issues and Policies/L.L4.L43 - Legal Monopolies and Regulation or DeregulationSujets proches
Price policy, Industrial Retail pricing Price policy Industrial economics Market structureCiter ce document
Xavier Méra, « A Note on the Limits to Monopoly Pricing », HAL-SHS : économie et finance, ID : 10670/1.sew3f1
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Résumé
Ludwig von Mises and Murray Rothbard tended to emphasize the same requirement for a monopoly price to emerge, as far as the demand schedule for the monopolized good is concerned, in the long run and in the immediate run. This is problematic because, as this paper explains, their criterion of a seller or a cartel of sellers facing an " inelastic demand " above the " competitive price " (Mises) or the " free-market price " (Rothbard) is only required in the immediate run. This has consequences in regard to the question of the limits to monopoly pricing. The inelasticity of demand criterion of both authors left less room for monopoly prices in their theoretical constructs of a hampered market economy than there really is. If one wants to spare the bulk of consumers from the effects of factor misallocation, refraining from granting monopolistic privileges becomes even more urgent than what both authors suggested.