Format:
1 Online-Ressource (viii, 229 pages)
,
digital, PDF file(s)
ISBN:
9780511571817
Content:
The theory of natural monopoly has been substantially transformed in previous years. Ina clear and straightforward style, Dr. Sharkey gives an integrated presentation of the modern approach to this subject. Although the book is mainly conceptual in nature, the final chapter on natural monopoly in the telecommunications industry shows the practical applications of the theory. After an historical survey of natural monopoly, there follows a chapter stating and explaining the main results as well as giving a preliminary overview of the rest of the book, where concepts such as the subadditivity of costs, optimal pricing, sustainability, and destructive competition are presented. The essence of the subject is presented in a manner accessible to the general reader, though the book also provides a synthesis of the subject suitable for advanced students
Content:
Preface -- Introduction and overview -- Historical survey of natural monopoly -- Evolution of the theory of natural monopoly -- Natural monopoly and economies of scale -- Natural monopoly and destructive competition -- Concluding comments -- Natural monopoly and economic theory: some basic results -- Competitive equilibrium and monopoly equilibrium -- General competitive equilibrium -- The theory of joint production -- Fixed costs and the theory of cross-subsidization -- The theory of the firm and increasing returns -- Public goods and collective choice -- Public enterprise pricing and the theory of the second best -- Concluding comments -- Natural monopoly and sub additivity of costs -- Natural monopoly in a single output market -- Multiple output natural monopoly: basic results -- Sufficient conditions for subadditivity in multiple output production -- Plant subadditivity and firm subadditivity -- Transactions costs and firm subadditivity -- Concluding comments -- Sustainability of natural monopoly -- Sustainability of single output natural monopoly -- Sustainability of multiple output natural monopoly -- A game theoretic approach to crosssubsidization and the stability of natural monopoly -- Concluding comments -- A game theoretic analysis of destructive competition -- Game theoretic preliminaries -- Sufficient conditions for a stable market -- Destructive competition: examples of unstable markets -- Concluding comments -- Competition in natural monopoly and natural oligopoly markets -- The rationale for regulation -- Contestable markets and barriers to entry -- Some complications in a dynamic natural monopoly market -- Limit and predatory pricing -- Concluding comments -- Noncooperative equilibria in a contestable market -- Natural monopoly and the telecommunications industry -- The nature of demand in telecommunications -- Characteristics of telecommunications technology -- Econometric studies of the telecommunications industry -- Competition in telecommunications and the changing structure of the industry -- Concluding comments -- References -- Index
Note:
Title from publisher's bibliographic system (viewed on 05 Oct 2015)
Additional Edition:
ISBN 9780521243940
Additional Edition:
ISBN 9780521271943
Additional Edition:
Print version ISBN 9780521243940
Language:
English
DOI:
10.1017/CBO9780511571817
URL:
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