Baumol, Willig, and other advocates of "contestability" theory continue to urge the idea not only for its insights but also as a clear basis for many antitrust and regulatory decisions. Yet the limits of the theory remain. The three key assumptions are extremely strict, and two of them are in...

Book review

Talk delivered October 9, 1964 at the TIMS-ORSA meeting in Minneapolis.

[eng] The paper analyzes the opening up of markets to competition in two regulated-utility markets with network-based technology. These allow for, experimentally, observing whether the new technologies are under indeed promoting competition. The central thesis is that the incumbent firms appear...

[eng] The two topics of the paper — contestability and predatory pricing — have in common that they have been used against antitrust policies.. After a short discussion of barriers to entry, the paper examines the special case of « ultra-free entry », which is the case of contestable...

This encyclopaedic work celebrates the scores of leading pioneers who created the modern economic field of industrial organization, at the heart of which lie competition and monopoly, the two great forces that drive modern markets. Their pioneering work has shaped the field’s growing research...