Business, Management and Accounting
8 years ago

New Understanding of Natural Monopoly Redefines Government Regulation Scope

1 view
Economic Survey
The Economic Analysis of Regulation Scope——Meditations Based on the Dimension of Natural Monopoly
Lin Guan-zheng

Paper Summary

Natural monopoly is a key reason for government regulation due to scale economy and asset specificity. Modern economic theories highlight Subadditivity as the main factor of natural monopoly, changing our understanding of its boundaries and regulation scope.

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