Abstract
A public monopoly is a way (policy) to solve a problem of welfare maximization. In particular, in the case of natural monopolies, the conditions necessary to achieve production efficiency are the same as the ones that impede achieving efficiency in the allocation of resources. The public monopoly transfers control of the monopoly to the State which sees to it that the benefits linked to production under conditions of maximum production efficiency can be employed so as to maximize collective welfare.
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© 1992 SIPI Srl, Rivista di Politica Economica
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Scognamiglio, C., Caroli, M. (1992). Public Monopolies. In: Baldassarri, M. (eds) Oligopoly and Dynamic Competition. Central Issues in Contemporary Economic Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12818-1_9
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DOI: https://doi.org/10.1007/978-1-349-12818-1_9
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