Question: Explain the link between market power and concentration. Explain how the New Empirical Industrial Organization (NEIO) estimates the degree of market power in relation to

Explain the link between market power and concentration. Explain how the New Empirical Industrial Organization (NEIO) estimates the degree of market power in relation to market concentration. Why have pre-NEIO studies often obtained unsatisfactory results (both in terms of statistical significance and interpretation)?

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