In pursuit of monopoly power: Recent quantitative work in industrial: Economics

This paper reviews empirical work in industrial organization devoted to the question of inferring the existence of monopoly power from data on observed market outcomes like profits and prices. The discussion covers inter‐industry work long conventional in the area, newer developments in intra‐industry analysis and case studies, and concludes with some remarks on a small but growing body of work assessing market dynamics. The wide range of studies reviewed all generally reveal that market power exists in many industries.