total offered quantity from near the Cournot level (observed in the absence of communication) halfway toward the monopoly …

rival a price for the input that exceeds the independent monopoly level and vertical foreclosure may occur. Domestic … product, whereas a simple monopoly supplier would respond by increasing its export price. Also domestic cost conditions for …

There are many industries in which potentially competitive segments require services provided by natural monopoly … agreements between the monopoly bottleneck and downstream firms are possible, Demsetz auctions need floors on bids, since … otherwise welfare can be lower than with an unregulated monopoly. We model an underhand agreement using a standard hidden …