Competitive Markets And Antimonopoly Regulation

Utility regulation in competitive markets: problems and progress

The book Utility regulation in competitive markets: problems and progress puts forth a case for competition, minimizing the role of traditional regulation and government intervention in energy, telecommunications, rail, and posts. The edited book contains chapters written by experts drawn from academics, regulatory bodies, and consulting firms. Chapters on each topic are followed by comments fr...

Competitive Markets and Aggregate Information

A frequently asked question is, how informationally efficient are market prices? In answering this question, economists commonly model the price formation process as one of tâtonnement where agents revise their beliefs until a market-clearing price is established. The Walrasian market thus aggregates all relevant information about an asset and yields a strong-form efficient price. A second appr...

Competitive Markets with Externalities∗

This paper presents a general model of a competitive market with consumption externalities, and establishes the existence of equilibrium in the model, under assumptions comparable to those in classical models. The model allows production and indivisible goods. Examples illustrate the generality and applicability of the results.

Price Bundling in Competitive Markets:

Are Health Insurance Markets Competitive?

The United States stands virtually alone among leading industrialized nations in its heavy and increasing reliance on the private insurance sector to intermediate health care for its residents. The assumption underlying this system is that fierce competition among private insurers yields more efficient outcomes, broadly writ (Alain C. Enthoven 1978). However, a comprehensive survey on the state...