WELFARE LOSSES DUE TO MARKET POWER: HICKSIAN VERSUS MARSHALLIAN MEASUREMENT. From: American Journal of Agricultural Economics | Date: February 1, 2001| Author: LAVERGNE, PASCAL; REQUILLART, VINCENT; SIMIONI, MICHEL | COPYRIGHT 2001 American Agricultural Economics Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

This paper warns against the use of Marshallian welfare loss in applied analysis of market power. We show how to compute the Hicksian deadweight loss from an ordinary demand. Then, from an experiment using real data on twenty-one sectors of the French food industry, we find that the Marshallian deadweight loss poorly approximates the exact Hicksian measure. Hence, it is advisable to use the latter in applied welfare analysis.

Key words: food industry, market power, welfa...

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