to charge the monopoly price. This paper compares a Demsetz auction, which awards an exclusive contract to the agent … bidding the lowest price (competition for the field) with having two agents provide the good under (imperfectly) competitive … independent of the particular duopoly game played ex post. We apply this condition to three canonical examples -- procurement …

When an industry is monopolized, price rises above and output falls below the competitive level. Those who continue to … buy the product at the higher price suffer a loss, but this loss is exactly offset by the additional revenue that the … monopolist obtains by charging the higher price. Other consumers, who are deflected by the higher price to substitute goods …

, price discrimination, and exclusion. Our analysis shows how a monopolist sometimes has an incentive to tie a complementary …

So long as the entry and exit of firms using the generic technology sets the price in an industry, one or more price …. Consumer welfare is increased if an innovator creates a proprietary technology such that the market equilibrium price is …

absolute margin. We derive these results in both a monopoly model and a variety of different competitive models. We conclude …