The Monopoly Nonproblem
Taking Price Discrimination Seriously
By Stephen Shmanske
This article appeared in the Winter 2006 issue of The Independent Review
The standard economic theory of monopoly assumes, unrealistically, that all units of a good or service must be sold at the same price. The remedy for this serious flaw in the theory is for economists to treat price discrimination much more centrally and seriously.
|Other Independent Review articles by Stephen Shmanske|
|Fall 1996||Information Asymmetries in Health Services|