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Article
Determinants of Social Losses Caused by the Monopolization – Citing the Example of Open Pension Funds in Poland
Tomasz Bernat
ABSTRACT. The article’s novelty is to present elements that affect the degree of social prosperity losses as well as social losses caused by monopolization and present it on the base of Open Pension Funds market in Poland. The main methodology used in the paper is deduction with analysis of financial factors of the market.
The paper consists of three main parts. The first part introduces the concept of monopoly loses especially discussed by prof. A. Harberger. The next part discusses factors determining these losses. Two quantities will be referred to as monopoly losses, namely social prosperity loss and social loss caused by market concentration. The analysis is aimed at defining main determinants affecting the degree of social losses brought. The third part presents market concentration example in an empirical way, finalised with conclusions.
KEYWORDS: monopolization, social losses, open pension funds, Poland.
JEL classification: D43, D61, D21, P2.