The Economics of market dominance

In this collection of essays, industrial economists offer an in-depth examination of dominant firms in competitive markets and the actions of authorities against such firms. The volume opens with an essay by the editors which outlines the development of policy in different countries and gives an account of the main issues in the debate. The contributors: interpret recent policy developments in the United States, Britain and Europe; employ new aspects of oligopoly theory to challenge conventional wisdom about the detection of collusive pricing; and defend profitability measurement as a useful tool for monopoly investigations. Other essays discuss the relevance of the "new industrial economics" and the persistence of monopoly firms.