Nuclear energy has been part of the United Kingdom's (UK) energy mix since the 1950's. However, the UK's reactor fleet is ageing and many reactors are nearing the end of their operational lives. As such, the UK is increasingly facing a shortfall in power generation capacity. This shortfall...

This paper shows that an upstream monopolist that sells to competing downstream firms can profitably use exclusive contracts to deter entry even where scale economies are absent. The incumbent monopolist can often place each downstream firm in a prisoner's dilemma by offering downstream firms a...