The Role of Market Forces

  • M. E. Beesley
  • P. Gist


This chapter will consider the role which increasing competition may play in influencing the behaviour of nationalised industries, and the implications for the design of government policy to achieve it.


Market Force Predatory Conduct Public Enterprise Monopoly Power Public Ownership 
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Notes and References

  1. 5.
    M. Beesley and S. Littlechild, ‘Privatisation: Principles, Problems and Priorities’, Lloyds Bank Review, no. 149 (July 1983) 1–20.Google Scholar
  2. 6.
    See, in particular: J. C. Panzar and R. D. Willig, ‘Free Entry and the Sustainability of Natural Monopoly’, The Bell Journal of Economics, vol. 8, no. l (Spring 1977) 1–22.CrossRefGoogle Scholar
  3. W. J. Baumol, E. E. Bailey and R. D. Willig, ‘Weak Invisible Hand Theorems on the Sustainability of Multiproduct Natural Monopoly’, The American Economic Review, vol. 67, no. 3 (June 1977) 350–65.Google Scholar
  4. W. J. Baumol, ‘Contestable Markets: An Uprising in the Theory of Industry Structure’, The American Economic Review, vol. 72, no. 1 (March 1982) 1–15.Google Scholar
  5. W. J. Baumol and R. D. Willig, ‘Fixed Costs, Sunk Costs, Entry Barriers, and Sustainability of Monopoly’, Quarterly Journal of Economics, vol. 96 (1981) 405–31.CrossRefGoogle Scholar
  6. E. E. Bailey, ‘Contestability and the Design of Regulatory and Antitrust Policy’, American Economic Review Papers and Proceedings, vol. 71, no. 2 (May 1981) 178–83.Google Scholar
  7. 11.
    M. E. Beesley, Liberalisation of the Use of British Telecommunications Network (London: HMSO, 1981).Google Scholar

Copyright information

© John Grieve Smith and Economic and Social Research Council 1984

Authors and Affiliations

  • M. E. Beesley
  • P. Gist

There are no affiliations available

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