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Markets of Joint Products: the oretical Model and Policy Implications
https://doi.org/10.32609/0042-8736-2015-2-104-122
Abstract
The article considers the phenomenon of price behavior on markets of joint products. It is shown that conclusions about the nature of economic entities’ behavior on this kind of markets could be inaccurate if their characteristics such as joint costs and correlation of demand conditions on markets mentioned are not taken into account. For this purpose a theoretical model, built according to basic microeconomic principles, is applied. It 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.
About the Authors
A. Shastitko
Lomonosov Moscow State University (Moscow, Russia); Russian Presidential Academy of National Economy and Public Administration; Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia)
Russian Federation
Russian Federation
A. Shastitko
Lomonosov Moscow State University (Moscow, Russia); The New School for Social Research (New York, US)
United States
United States
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Review
For citations:
Shastitko A., Shastitko A. Markets of Joint Products: the oretical Model and Policy Implications. Voprosy Ekonomiki. 2015;(2):104-122. (In Russ.) https://doi.org/10.32609/0042-8736-2015-2-104-122
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