MCAFEE, R. PRESTON; WISEMAN, THOMAS - In: Review of Economic Studies 75 (2008) 1, pp. 317-332
The Coase conjecture (1972) is the proposition that a durable-goods monopolist, who sells over time and can quickly reduce prices as sales are made, will price at marginal cost. We show that an arbitrarily small deviation from Coase's assumptions-a deviation that applies in almost any practical...