alexa Can A Monopoly Increase The Welfare Of Its Consumers? | 69748
E-ISSN: 2252-5211

International Journal of Waste Resources
Open Access

OMICS International organises 3000+ Global Conferenceseries Events every year across USA, Europe & Asia with support from 1000 more scientific Societies and Publishes 700+ Open Access Journals which contains over 50000 eminent personalities, reputed scientists as editorial board members.

Open Access Journals gaining more Readers and Citations

700 Journals and 15,000,000 Readers Each Journal is getting 25,000+ Readers

This Readership is 10 times more when compared to other Subscription Journals (Source: Google Analytics)

4th World Congress and Expo on Recycling
July 27-29, 2017 | Rome, Italy

Doron Lavee
Tel-Hai College, Israel
Keynote: Int J Waste Resour
DOI: 10.4172/2252-5211-C1-004
Abstract
Demand uncertainty may be a significant barrier for firms to enter the market. This study suggests that an establishment of a monopole which absorbs demand uncertainty by commitment to determine a long-term stable price may be efficient by reducing the uncertainty level. An economic model examines the social welfare consequences of establishing such a monopsony in the waste recycling market in Israel. The model provides a good description of many other markets with high entry cost and price volatility. The results show that an establishment of a monopsony in the waste recycling market could be an efficient process from a social welfare perspective (welfare increasing); this depends on the market's uncertainty level and the technological changes resulting from eliminating uncertainty. In the case study shown in Israel, creating a regulation that allows larger municipalities to sell the waste at competitive prices (international market prices) and allows small municipalities to recycle at a monopsony price, will lead to improved social welfare. The novelty of this study stems from the proof that a monopsony may increase the market size in markets with high levels of uncertainty, thus increasing the consumers benefit. A monopsony creates "certainty benefits" by reducing the risk premium arising from price fluctuations and the entrance of new players, and although it gains excessive profits, the benefit of reducing uncertainty may be greater than the loss of a monopolistic exploitation.
Biography

Doron Lavee holds a PhD in Public Economics from the Ben-Gurion University, an MA in Economics and an MBA in Business Administration and Economics from the Hebrew University. He is a member of the Department of Economics and Management at Tel-Hai Academic College. He also serves as a Partner and General Manager of Pareto Group Ltd. He is a well-known expert with over 22 years of experience in economic and environmental consulting, financial advisory and strategic consulting in various fields, including issues related to economic efficiency and the periphery. He has extensive experience in managing complex projects and large-scale environmental economic consulting and conducting projects for the public and government sectors, including government ministries, local authorities, government corporations and public agencies.

Email: [email protected]

image PDF   |   image HTML
 
Peer Reviewed Journals
 
Make the best use of Scientific Research and information from our 700 + peer reviewed, Open Access Journals
International Conferences 2018-19
 
Meet Inspiring Speakers and Experts at our 3000+ Global Annual Meetings

Contact Us

Agri & Aquaculture Journals

Dr. Krish

[email protected]

1-702-714-7001Extn: 9040

Biochemistry Journals

Datta A

[email protected]

1-702-714-7001Extn: 9037

Business & Management Journals

Ronald

[email protected]

1-702-714-7001Extn: 9042

Chemistry Journals

Gabriel Shaw

[email protected]

1-702-714-7001Extn: 9040

Clinical Journals

Datta A

[email protected]

1-702-714-7001Extn: 9037

Engineering Journals

James Franklin

[email protected]

1-702-714-7001Extn: 9042

Food & Nutrition Journals

Katie Wilson

[email protected]

1-702-714-7001Extn: 9042

General Science

Andrea Jason

[email protected]

1-702-714-7001Extn: 9043

Genetics & Molecular Biology Journals

Anna Melissa

[email protected]

1-702-714-7001Extn: 9006

Immunology & Microbiology Journals

David Gorantl

[email protected]

1-702-714-7001Extn: 9014

Materials Science Journals

Rachle Green

[email protected]

1-702-714-7001Extn: 9039

Nursing & Health Care Journals

Stephanie Skinner

[email protected]

1-702-714-7001Extn: 9039

Medical Journals

Nimmi Anna

[email protected]

1-702-714-7001Extn: 9038

Neuroscience & Psychology Journals

Nathan T

neuropsyc[email protected]

1-702-714-7001Extn: 9041

Pharmaceutical Sciences Journals

Ann Jose

[email protected]

1-702-714-7001Extn: 9007

Social & Political Science Journals

Steve Harry

[email protected]

1-702-714-7001Extn: 9042

 
© 2008- 2018 OMICS International - Open Access Publisher. Best viewed in Mozilla Firefox | Google Chrome | Above IE 7.0 version