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Books > Social sciences > Sociology, social studies > Crime & criminology > Penology & punishment
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The Theory of Contestable Markets - Applications to Regulatory and Antitrust Problems in the Rail Industry (Hardcover, New)
Loot Price: R2,208
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The Theory of Contestable Markets - Applications to Regulatory and Antitrust Problems in the Rail Industry (Hardcover, New)
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This book provides a comprehensive analysis of the application of
the new theory of contestable markets to the problem of the
transition to deregulation in regulated industries. It offers an
extensive review of both the theory and practice of contestable
markets, as well as guidelines for the practical application of the
theory to regulated industries and antitrust, with special
consideration given to the problems of the rail industry. As
applied in this industry, the theory promised to help balance the
conflicting goals of regulatory transition and to define standards
for revenue adequacy, cooperation among competitors, maximum
reasonable rates, and antitrust immunity for mergers. Unlike other,
chiefly theoretical, treatments of the subject, the author has
provided a study of the theory of contestable markets as well as
its past and potential applications. His introduction discusses
such topics as the relevant theory of perfect contestability,
implications for economic welfare, and recent applications of the
theory. Chapter 2 deals with vertical mergers into contestable
markets, while chapter 3 concerns itself largely with the
transition to deregulation in regulated industries. Unlike other
theoretical studies, however, the work also addresses the theory in
practice. Using the insights gained when the theory was employed in
the rail industry, the author draws conclusions regarding a broad
range of regulatory and antitrust issues affecting all industries,
such as economic analysis of vertical mergers and vertical economic
practices.
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