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Published in:
The Economics of Public Deficits Read chapter Read first chapter

1987 | OriginalPaper | Chapter

Corporate Governance and Market Structure

Author : Robert D. Willig

Published in: Economic Policy in Theory and Practice

Publisher: Palgrave Macmillan UK

Included in: Professional Book Archive

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It is an element of the conventional wisdom that product market competition disciplines firms into efficiency of operation, while market power fosters managerial sloth and x-inefficiency. In this view, movements in the market away from monopoly towards competition are doubly advantageous to social welfare. They decrease deadweight social losses in the product market while, at the same time, eliminating wasted resources and unnecessary costs internal to the firms.

previous chapter The Effect of Labour Unions on Investment in Training: a Dynamic Model
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Metadata
Title
Corporate Governance and Market Structure
Author
Robert D. Willig
Copyright Year
1987
Publisher
Palgrave Macmillan UK
Book
Economic Policy in Theory and Practice

Print ISBN: 978-1-349-18586-3

Electronic ISBN: 978-1-349-18584-9

Copyright Year: 1987

DOI
https://doi.org/10.1007/978-1-349-18584-9_13