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.
The Monopoly Nonproblem
Taking Price Discrimination Seriously
By Stephen Shmanske
This
article
appeared in
the Winter 2005/06 issue of The Independent Review.
Antitrust, Competition, and MonopolyBusiness and EntrepreneurshipEconomyFree Market EconomicsPublic ChoiceRegulation
Other Independent Review articles by Stephen Shmanske | |
Fall 1996 | Information Asymmetries in Health Services |