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The Social Costs of Monopoly and Regulation

Опубликовано на портале: 01-09-2003
Journal of Political Economy. 1975.  Vol. 83. No. 4. P. 807-827. 
This paper presents a model and some highly tentative empirical estimates of the social costs of monopoly and monopoly-inducing regulation in the United States. Unlike the previous studies, it assumes that competition to obtain a monopoly results in the transformation of expected monopoly profits into social costs. A major conclusion is that public regulation is probably a larger source of social costs than private monopoly. The implications of the analysis for several public policy issues, such as appropriate policy toward mergers and price discrimination, are also discussed. [Авторский текст]

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