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The regulation of monopoly

Author: Roger Sherman
Publisher: Cambridge : Cambridge University Press, 1989.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Competition may not function well where technology calls for large and complex investments, as in the electrivity industry where public utilities often provide service. This book presents economic welfare foundations for the purpose of evaluating how well, from a social point of view, an enterprise performs when competition is unable to function. Problems with existing institutions are emphasized. Topics treated  Read more...
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Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Roger Sherman
ISBN: 9780511572005 051157200X
OCLC Number: 1030121605
Notes: Title from publisher's bibliographic system (viewed on 05 Oct 2015).
Description: 1 online resource (xi, 315 pages) : PDF file(s).
Responsibility: Roger Sherman.
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Abstract:

Competition may not function well where technology calls for large and complex investments, as in the electrivity industry where public utilities often provide service. This book presents economic welfare foundations for the purpose of evaluating how well, from a social point of view, an enterprise performs when competition is unable to function. Problems with existing institutions are emphasized. Topics treated include welfare measures and their uses in peak-load pricing, second-best pricing, and income distribution. Professor Sherman covers public choice difficulties of government intervention, and describes problems with incentives in statutory monopolies and efforts to overcome them through the study of principal-agent relationships. Contestability and sustainable prices are also discussed, as well as effects of uncertainty and imperfect information.

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