Download or read book The Control of Natural Monopolies written by Richard Schmalensee and published by Free Press. This book was released on 1979 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Natural Monopoly and Its Regulation written by Richard A. Posner and published by Cato Institute. This book was released on 1999-04-01 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural monopolies exist in those markets in which demand can be satisfied at lowest cost by the output of only one rather than several competing firms. Under such conditions, conventional wisdom suggests that government regulation must substitute for competition to discipline the behavior of firms. Thirty years ago a young professor named Richard Posner asked the provocative question of whether the existence of natural monopoly provides adequate justification for government intervention. His even more provocative answer was no. The evils of natural monopoly are exaggerated, the effectiveness of regulation in controlling them is highly questionable, and regulation costs a great deal. "The resources and energies of government should be directed to problems we know are substantial, that we think are traceable to government action, and that cannot be left to the private sector to work out. There are plenty of those problems, and it is doubtful that natural monopoly is among them." Thirty years after its initial publication, read the original insights of Richard Posner about the regulation of natural monopoly as well as a new preface in which Posner reflects on the deregulation of industries that has occurred since 1969 and the possibilities for more deregulation in the future."

Download or read book Natural Monopolies in Digital Platform Markets written by Francesco Ducci and published by Cambridge University Press. This book was released on 2020-07-23 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through three case studies, this book investigates whether digital industries are naturally monopolistic and evaluates policy approaches to market power.

Download or read book Natural Monopoly Regulation written by Sanford V. Berg and published by Cambridge University Press. This book was released on 1989-01-27 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considered the cutting edge of microeconomic theory in the 1970s, natural monopoly research remains an active and fertile field. Policy makers and regulators have begun to implement entry and pricing policies that are based on theoretical and empirical analyses. This book develops a comprehensive framework for analyzing natural monopoly. The authors first present a historical overview of regulatory economics, followed by analyses of optimal pricing and investment for single- and multiproduct natural monopolies. Topics covered include cost and demand structures, efficiency impacts of linear and multipart pricing, peak-load pricing, capacity determination, and the sustainability of natural monopolies. After a survey and analysis of natural monopoly regulation in practice, the links between technological change and regulation are identified. The book concludes with a discussion of the alternatives to traditional regulation, including public ownership, franchise schemes, quality regulation, and new incentive systems. Throughout the book, issues from the telecommunications and energy industries are used to illustrate key points. Its integrated framework will make it useful to academic economists, regulatory analysts, business researchers, and advanced students of public utility economics.

Download or read book Regulating Infrastructure written by José A. Gómez-Ibáñez and published by Harvard University Press. This book was released on 2006-09-01 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1980s and '90s many countries turned to the private sector to provide infrastructure and utilities, such as gas, telephones, and highways--with the idea that market-based incentives would control costs and improve the quality of essential services. But subsequent debacles including the collapse of California's wholesale electricity market and the bankruptcy of Britain's largest railroad company have raised troubling questions about privatization. This book addresses one of the most vexing of these: how can government fairly and effectively regulate "natural monopolies"--those infrastructure and utility services whose technologies make competition impractical? Rather than sticking to economics, José Gómez-Ibáñez draws on history, politics, and a wealth of examples to provide a road map for various approaches to regulation. He makes a strong case for favoring market-oriented and contractual approaches--including private contracts between infrastructure providers and customers as well as concession contracts with the government acting as an intermediary--over those that grant government regulators substantial discretion. Contracts can provide stronger protection for infrastructure customers and suppliers--and greater opportunities to tailor services to their mutual advantage. In some cases, however, the requirements of the firms and their customers are too unpredictable for contracts to work, and alternative schemes may be needed.

Download or read book Regulation of Natural Monopolies written by Paul L. Joskow and published by . This book was released on 2005 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter provides a comprehensive overview of the theoretical and empirical literature on the regulation of natural monopolies. It covers alternative definitions of natural monopoly, regulatory goals, alternative regulatory institutions, price regulation with full information, regulation with imperfect and asymmetric information, and topics on the measurement of the effects of price and entry regulation in practice. The chapter also discusses the literature on network access and pricing to support the introduction of competition into previously regulated monopoly industries.

Download or read book The Control of Trusts written by John Bates Clark and published by . This book was released on 1901 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Regulation of the Firm and Natural Monopoly written by Michael Waterson and published by Wiley-Blackwell. This book was released on 1988 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive analysis and assessment of the purpose and effects of the main forms of regulation from the standpoint of industrial economics. The focus is on industries where market conduct is potentially substantially different from competitive. The first chapter analyses the meaning and implications of the phenomenon known as natural monopoly, examining the cases for and against intervention to regulate pricing or entry behaviour. Other topics covered include the question of intra-firm efficiency; the major forms of regulation: state control, rate regulation and franchising schemes; and theoretical and empirical assessments of various relaxations in the regulatory regime.

Download or read book How natural are Natural Monopolies in the Water Supply and Sewerage Sector written by Céline Nauges and published by World Bank Publications. This book was released on 2007 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data from the International Benchmarking NETwork database, the authors estimate measures of density and scale economies in the water industry in four countries (Brazil, Colombia, Moldova, and Vietnam) that differ substantially in economic development, piped water and sewerage coverage, and characteristics of the utilities operating in the different countries. They find evidence of economies of scale in Colombia, Moldova, and Vietnam, implying the existence of a natural monopoly. In Brazil the authors cannot reject the null hypothesis of constant returns to scale. They also find evidence of economies of customer density in Moldova and Vietnam. The results of this study show that the cost structure of the water and wastewater sector varies significantly between countries and within countries, and over time, which has implications for how to regulate the sector.

Download or read book Municipal Control of Natural Monopolies written by Marcus Lane and published by . This book was released on 1900 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Natural Monopoly written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-11 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Natural Monopoly A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors. Specifically, an industry is a natural monopoly if the total cost of one firm, producing the total output, is lower than the total cost of two or more firms producing the entire production. In that case, it is very probable that a company (monopoly) or minimal number of companies (oligopoly) will form, providing all or most relevant products and/or services. This frequently occurs in industries where capital costs predominate, creating large economies of scale about the size of the market; examples include public utilities such as water services, electricity, telecommunications, mail, etc. Natural monopolies were recognized as potential sources of market failure as early as the 19th century; John Stuart Mill advocated government regulation to make them serve the public good. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Natural monopoly Chapter 2: Economies of scale Chapter 3: Microeconomics Chapter 4: Monopoly Chapter 5: Monopolistic competition Chapter 6: Perfect competition Chapter 7: Imperfect competition Chapter 8: Public utility Chapter 9: Economies of scope Chapter 10: X-inefficiency Chapter 11: Anti-competitive practices Chapter 12: Barriers to entry Chapter 13: Monopoly profit Chapter 14: Average cost Chapter 15: Contestable market Chapter 16: Market power Chapter 17: Free entry Chapter 18: Competition (economics) Chapter 19: Rate-of-return regulation Chapter 20: Minimum efficient scale Chapter 21: History of microeconomics (II) Answering the public top questions about natural monopoly. (III) Real world examples for the usage of natural monopoly in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Natural Monopoly.

Download or read book The End of a Natural Monopoly written by Daniel H. Cole and published by Routledge. This book was released on 2003-07-17 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the fundamental issues underlying the debate over electric power regulation and deregulation. After decades of the presumption that the electric power industry was a natural monopoly, recent times have seen a trend of deregulation followed by panicked re-regulation. This important book critically analyses this controversial area from a legal and economic perspective.

Download or read book In Defense of Monopoly written by Richard B. McKenzie and published by University of Michigan Press. This book was released on 2019-02-28 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.

Download or read book Capitalism Power and Innovation written by Cecilia Rikap and published by Routledge. This book was released on 2021-03-29 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: In contemporary global capitalism, the most powerful corporations are innovation or intellectual monopolies. The book’s unique perspective focuses on how private ownership and control of knowledge and data have become a major source of rent and power. The author explains how at the one pole, these corporations concentrate income, property and power in the United States, China, and in a handful of intellectual monopolies, particularly from digital and pharmaceutical industries, while at the other pole developing countries are left further behind. The book includes detailed empirical mappings of how intellectual monopolies develop and transform knowledge from universities and open-source collaborations into intangible assets. The result is a strategy that combines undermining the commons through privatization with harvesting from the same commons. The book ends with provoking reflections to tilt the scale against intellectual monopoly capitalism and arguing that desired changes require democratic mobilization of workers and citizens at large. This book represents one of the first attempts to capture the contours of an emerging new era where old perspectives lead us astray, and the old policy toolbox is hopelessly inadequate. This is true for the idea that the best, or only, way to promote innovation is to transform knowledge into private property. It is also true for anti-trust policies focusing exclusively on consumer prices. The formation of global infrastructures that lead to natural monopolies calls for public rather than private ownership. Scholars and professionals from the social sciences and humanities (in particular economics, sociology, political science, geography, educational science and science and technology studies) will enjoy a clear and all-embracing depiction of innovation dynamics in contemporary capitalism, with a particular focus on asymmetries between actors, regions and topics. In fact, its topical issue broadens the book’s scope to those curious about how innovation networks shape our world.

Download or read book Government Control of Natural Monopoly written by Ellen Marie Pint and published by . This book was released on 1988 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Monopoly Rules written by Milind M. Lele and published by Kogan Page Publishers. This book was released on 2007 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional wisdom attributes winning to having the best products at the lowest prices, a great brand, superior management and the lowest overhead. This book shows you how to win and hold on to that crucial market segment that can make you rich. It provides a different way to think, take action and stay ahead of the game.

Download or read book Electricity Marginal Cost Pricing written by Monica Greer and published by Elsevier. This book was released on 2012-03-13 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Packed with case studies and practical real-world examples, Electricity Marginal Cost Pricing Principles allows regulators, engineers and energy economists to choose the pricing model that best fits their individual market. Written by an author with 13 years of practical experience, the book begins with a clear and rigorous explanation of the theory of efficient pricing and how it impacts investor-owned, publicly-owned, and cooperatively-owned utilities using tried and true methods such as multiple-output, functional form, and multiproduct cost models. The author then moves on to include self-contained chapters on applying estimating cost models, including a cubic cost specification and policy implications while supplying actual data and examples to allow regulators, energy economists, and engineers to get a feel for the methods with which efficient prices are derived in today’s challenging electricity market. A guide to cost issues surrounding the generation, transmission, and distribution of electricity Clearly explains cost models which can yield the marginal cost of supplying electricity to end-users Real-world examples that are practical, meaningful, and easy to understand Explans the policy implications of each example Provide suggestions to aid in the formation of the optimal market price