James Ahiakpor argues that our “claim that Say changed his mind on his law of markets or outlets in the fifth and sixth editions [of the Treatise]…is misleading.” We disagree emphatically with Ahiakpor’s characterizations. His note is full of errors and misrepresentations. In order to...

<title>Abstract</title> This paper retraces the origins of the unbundling of infrastructure, which is a monopoly, from services, which are subject to competition. Using the case of the railroad industry in France, I examine how both natural monopoly theorists and legislation dealt with this subject in the...

This article examines the railway concessions in France in the 19th century as examples of a principal-agent relationship between the State and a contractor. I show that one of the main assumptions of the agency theory, the asymmetric information at the benefit of the agent, is not verified. I...