Do Outside Options Reinforce or Weaken the Monopoly Power? —An Experiment Review

DOI

10.2991/sschd-17.2017.100How to use a DOI?

Keywords

Outside Option, Monopoly Power, Experiment.

Abstract

Consumers having outside options are an important continuation for market trading theory. The article discusses the question: allowing consumers to "shop around", does monopoly power sensitively respond to consumers with or without outside options? The related literatures were summarized and showed that there are three distinct opinions: outside options make the monopoly power more prone to compete; the monopoly power more prone to perfect monopoly level and outside options are not immediately relevant to the final trading. As the time over, monopoly power is significantly reduced; it converges to an intermediate value between monopoly and compete; but the convergence rate is not so fast.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Gui-Rong Shao
PY  - 2017/09
DA  - 2017/09
TI  - Do Outside Options Reinforce or Weaken the Monopoly Power? —An Experiment Review
BT  - Proceedings of the 3rd Annual International Conference on Social Science and Contemporary Humanity Development
PB  - Atlantis Press
SP  - 528
EP  - 532
SN  - 2352-5398
UR  - https://doi.org/10.2991/sschd-17.2017.100
DO  - 10.2991/sschd-17.2017.100
ID  - Shao2017/09
ER  -