Mcafee, R. Preston; Wiseman, Thomas - In: Review of Economic Studies 75 (2008) 1, pp. 317-331
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...