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Natural Monopoly

  • Scott Gilbert
Chapter
Part of the Quantitative Perspectives on Behavioral Economics and Finance book series (QPBEF)

Abstract

Antitrust economics deals with situations of high market concentration and anti-competitive harm in a given industry, with a focus on the activities of private companies. One of the government’s tools to deal with antitrust issues is industry regulation, via the Federal Trade Commission (FTC), the Federal Communications Commission (FCC), and similar agencies. Industry regulation applies to private companies but also to publicly owned or quasi-private companies, common examples being utilities—electric companies, water companies, and so on. Such companies are often referred to as “natural monopolies,” the subject of this chapter.

Keywords

Production Returns to scale Natural monopoly 

References

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Scott Gilbert
    • 1
  1. 1.Southern Illinois UniversityCarbondaleUSA

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