Free Entry and the Sustainability of Natural Monopoly
Free Entry and the Sustainability of Natural Monopoly
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自由进入与自然垄断的可持续性
DOI：
10.2307/3003484
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发表时间：
1977
期刊：
影响因子：
--
通讯作者：
R. Willig
中科院分区：
文献类型：
--
作者：
J. Panzar;R. Willig
与传统智慧相反，受管制的自然垄断可能容易受到缺乏创新的竞争者的进入，即使它正在有效地生产和定价，并且赚取零经济利润。这种不可持续性的原因和后果，从理论上研究在一个理想化的监管环境。特别是，强烈的需求替代效应和产品特定规模经济不利于可持续发展。如果自然垄断是不可持续的，那么任何提供整套产品的受管制的市场结构都是不可持续的。
Contrary to conventional wisdom, a regulated natural monopoly may be vulnerable to entry by uninnovative competitors even if it is producing and pricing efficiently and earning zero economic profits. The causes and consequences of this unsustainability are theoretically examined in an idealized regulatory environment. In particular, strong demand substitution effects and product-specific scale economies work against sustainability. If natural monopoly is unsustainable, no regulated market structure which provides the entire product set can be sustainable.