1,721,190 research outputs found
The sources of monopoly power before Bain (1956)
No full textThe purpose of this article is to show that there is a gap in the literature on the sources of monopoly power. It looks at the literature on the history of different topics (Industrial Organization, Models of profit maximization in non-competitive markets, Antitrust, Competition) to find out which kind of limitation to entry economists before Bain took into account, the role they attributed to the number of firms present in the market, and their ideas on potential competition. It finds that there are good reasons to investigate the sources of market power in the Italian marginalist thought. The paper demonstrate that: 1. new filiations of ideas can be traced; 2. entry is not considered before 1950s only in analytical models, while in non formalized theory there is a lot on this notion; 3. economists were perfectly aware of the situation between perfect competition and monopoly before 1930s; 4. Italian marginalists used a kind of theory of strategic competition, which was an adaptation of the classical theory of competition; 5. competition policies were requested in 19th century not only in the U.S
The notion of market power in the Italian marginalist school: Vilfredo Pareto and Enrico Barone
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On the origin of the concept of natural monopoly
Full text linkThis article contributes to the history of the concept of natural monopoly, focusing on the reconstruction of its origins. It considers natural monopoly as composed of different elements: 1. the expression itself; 2. the singling out of the concrete situations to which it is applied; 3. the inquiry into economies of scale; 4. the consideration of their incompatibility with perfect competition; 5. the drawing of the diagram; 6. the need for government intervention. In the paper each of the above feature is separately examined from a historical perspective. Priorities and influences are then traced, in particular it is found that the pivotal figure in this historical reconstruction is that of Edgeworth. It is also highlighted the relation of the concept of natural monopoly with that of competition, as well as its policy implications
Un tassello del mosaico. Il Concorso Cossa alla Regia Accademia di Scienze Lettere ed Arti di Modena (1887-1892)
No full textRecensione di Y. Breton e M. Lutfalla (a cura di), L'économie politique en France au XIXe siècle
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