Natural monopolies exist in those markets in which demand can be satisfied at lowest cost by the output of only one rather than several competing firms. Under s

Considered the cutting edge of microeconomic theory in the 1970s, natural monopoly research remains an active and fertile field. Policy makers and regulators ha

Optimal Regulation addresses the central issue of regulatory economics - how toregulate firms in a way that induces them to produce and price "optimally." It sy

Through three case studies, this book investigates whether digital industries are naturally monopolistic and evaluates policy approaches to market power.

This book addresses the fundamental issues underlying the debate over electric power regulation and deregulation. After decades of the presumption that the elec