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Markets of joint products: A theoretical model and policy implications
[journal article]
Abstract The article considers the phenomenon of price behavior in markets of joint products. It shows that conclusions about the nature of economic entities' behavior on this type of market could be inaccurate if the characteristics of these markets, such as joint costs, are not taken into account. For this... view more
The article considers the phenomenon of price behavior in markets of joint products. It shows that conclusions about the nature of economic entities' behavior on this type of market could be inaccurate if the characteristics of these markets, such as joint costs, are not taken into account. For this purpose, a theoretical model, built according to basic microeconomic principals, is applied. This model provides an opportunity to reveal - without further new institutional analysis - that the reason for price deviation from a competitive level does not always lie in actions restricting competition.... view less
Classification
Basic Research, General Concepts and History of Economics
Free Keywords
joint products; joint costs; competition
Document language
English
Publication Year
2015
Page/Pages
p. 199-216
Journal
Russian Journal of Economics, 1 (2015) 2
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0