Littlechild, S.C. - Faculty of Economics, University of Cambridge - 2001
Demsetz (1968) advocated competitive bidding as a replacement for natural monopoly regulation. Williamson (1976) and … Goldberg (1976) argued that these problems of natural monopoly regulation are inherent in long-term investment under … distribution network. The evidence of this contract suggests that competitive bidding to provide a natural monopoly service is …