This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … extent of competition from substitute products. I estimate that, in 2019, public corporations produced consumer surplus in …

The model of perfect competition is one of the most famous, most important, and most misunderstood concepts in … economics. Rather than aiming to be a full-blown model of real-world competitive markets, the perfect competition model isolates … only feature of market competition, but it plays a central role regarding to its virtues, and understanding the working …

surrounding antitrust proceedings revive the academic discussion about the monopoly power of sport-internal governing bodies (like …, we discuss how much monopoly is unavoidable in premier-level European football and how its powers can be limited and … competition for the market, fueling innovation incentives and strengthening the influence of fans' preferences. …

This paper examines the effects of introducing competition into monopolized network industries on prices and … infrastructure quality. Analyzing a model with reduced-form demand, we first show that deregulating an integrated monopoly cannot … retail price and infrastructure quality relative to the integrated monopoly outcome increases welfare. Third, we argue that …

This paper studies the effect of soft-budget constraints in a pure adverse selection model of monopoly regulation. We … regulatory set-up in which firms are free to enter natural monopoly markets and to choose their price and output levels as in the …

In general, the introduction of competition into the public sector seems to lead to higher cost-efficiency in service …, we investigate the effects of deregulation on the cost-reducing incentives of a public firm. Our results show that a firm … that is a public monopoly has greater incentive to conduct cost-reducing investment than a public firm within mixed …