A Comparison of Oligopoly Welfare Loss Estimates for U.S. Food Manufacturing
利用八种实证方法估计美国食品制造业因不完全竞争导致的福利损失，发现尽管平均损失差异大，但行业排名高度一致，对反垄断执法有参考价值。
Abstract Capitalizing on theoretical advances in calculating deadweight welfare losses due to imperfect competition, we compare eight empirical estimates for the U.S. food manufacturing industries. The estimates incorporate varying theoretical assumptions about demand, supply, and firm pricing behavior; and utilize various data sources, time periods, and assumptions about the proper competitive benchmark. While the estimates of average allocative losses range widely, there is a high degree of congruence in the rankings of economic losses due to market power. Thus, from the perspective of efficient antitrust enforcement, the newer theoretical oligopoly approaches and the traditional structure‐conduct‐performance models would target similar industries.