Transparency, Prices and Welfare with Imperfect Substitutes

J. Boone; J.J.M. Potters

Transparency, Prices and Welfare with Imperfect Substitutes

J. Boone, J.J.M. Potters

Research Group: Economics

Research output: Working paper › Discussion paper › Other research output

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Abstract

Markets that are not completely transparent feature complex comparative statics with respect to the effect of number of firms, elasticity of substitution between goods and degree of transparency on equilibrium prices.The main result is that the following 'common wisdom' is incorrect: more transparent markets always feature lower prices, higher consumer welfare and lower price disperion.

Original language	English
Place of Publication	Tilburg
Publisher	Microeconomics
Number of pages	26
Volume	2002-7
Publication status	Published - 2002

Publication series

Name	CentER Discussion Paper
Volume	2002-7

Keywords

market structure
prices
welfare

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