We analyze the effect of price caps on equilibrium production and welfare in oligopoly under demand uncertainty. We … price cap and show that typically, the optimal price cap is bounded away from marginal cost. -- Demand uncertainty, Cournot …

uncertainty in demand. The monopolist is uninformed because it does not know one of the parameters defining the distribution of … the random demand. Observing prices reveals this information slowly. We first show how to incorporate Bayesian learning …. Learning affects the monopolist's behavior. The higher the expected mean of the demand shock given its beliefs, the higher the …

adequate response to markets without prices. Modern antitrust law is firmly grounded in neoclassical economics — price theory …. Steeped in price theory, preeminent antitrust theorists have unsurprisingly urged that without prices there can be no markets …

telecommunications is in line with micro-economic theory, which predicts an increase in efficiency and lower prices when markets are … accompanied by a strong growth in demand in the telecommunications sector. This demand side effect is absent in electricity …

During the second half of the twentieth century economic theory moved increasingly away from price theory, which was … gradually displaced by more modern trends such as game theory, decision theory, behavioral-empirical-experimental economics …, heterodox economics, etc. This was due to serious weaknesses and mistakes of the traditional theory of perfect competition and …