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Natural monopoly revisited

Author

Listed:
  • Oriol Carbonell-Nicolau

    (Rutgers University)

Abstract

We study the conditions under which production processes exhibit a decreasing average cost function in the absence of perfectly competitive input markets and discuss some implications for regulatory policy.

Suggested Citation

  • Oriol Carbonell-Nicolau, 2024. "Natural monopoly revisited," Journal of Regulatory Economics, Springer, vol. 66(1), pages 52-61, August.
    • Handle: RePEc:kap:regeco:v:66:y:2024:i:1:d:10.1007_s11149-024-09479-0
    DOI: 10.1007/s11149-024-09479-0
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    References listed on IDEAS

    as
    1. José Azar & Ioana Marinescu & Marshall Steinbaum, 2022. "Labor Market Concentration," Journal of Human Resources, University of Wisconsin Press, vol. 57(S), pages 167-199.
    2. Serrano,Roberto & Feldman,Allan M., 2013. "A Short Course in Intermediate Microeconomics with Calculus," Cambridge Books, Cambridge University Press, number 9781107623767.
    3. A. P. Lerner, 1934. "The Concept of Monopoly and the Measurement of Monopoly Power," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 1(3), pages 157-175.
    4. José Azar & Ioana Marinescu & Marshall Steinbaum, 2019. "Measuring Labor Market Power Two Ways," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 317-321, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Natural monopoly; Monopsony; Returns to scale; Average cost function;
    All these keywords.

    JEL classification:

    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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