Monopoly and Competition

Contestability theory makes a case that the pricing behavior of a multi-product natural monopolist is disciplined by the threat of entrepreneurial entry. 

This paper explains how grants of monopolistic privileges to capitalists can lower labor and land factors’ prices compared to what would prevail in a free market environment.

The resourceful antitrust community has simply gone ahead and reinvented itself by developing several new theories and an entirely new approach to evidence. 

The goal of our inquiry here is to add weight to the Rothbardian critique of Mises’s theory of monopoly prices. We do so by highlighting the inconsistencies of the latter’s treatment 

Butler Shaffer's well-written monograph, In Restraint of Trade, describes in extensive detail why and how most businessmen pleaded for the government to tame them between the end of World War I and the eve of World War II. 

In neoclassical theory, product differentiation provides consumers with a variety of different products within a particular industry, rather than a homogeneous product that characterizespurely competitive markets.

There are two views of monopoly within what might be called the broad Austrian camp.

Robert Nozick’s Anarchy, State, and Utopia (New York: Basic Books, 1974) is an “invisible hand” variant of a Lockean contractaria

Two objection have recently been made to the model of the free market without government.

Robert Nozick’s widely hailed Anarchy, State, and Utopia has been analyzed primarily in terms of the arguments he engages in with his fellow