Numa, Guy - In: History of Political Economy 44 (2012) 1, pp. 69-95
In this article, I analyze and compare the contributions of Dupuit and Walras on the natural monopoly of railroads … that Dupuit and Walras both concluded that railroads were better managed under the monopoly regime; however, they drew upon … different perspectives. I argue that Dupuit was more pragmatic, using the concept of a “de facto monopoly,” while Walras was …