ISSN:
1617-7134
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Conclusion Concerning the interpretation of the positive association between seller concentration and profitability we suggest that concentration should primarily be considered as an indicator of monopoly power. This proposition is based on the finding of an inverse relationship between concentration and wages which, theoretically, can be traced back to monopoly. By the same standard of evaluation, vertical integration of successive stages of production within a single firm appears to yield efficiency gains on balance whereas in the case of cartels of the kind permitted in West Germany monopolizing and efficiency raising effects appear to just cancel.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF01283111
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