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Deregulation and the Theory of Contestable Markets

By Elizabeth E. Bailey and William J. Baumol


Until recently, the need to regulate monopoly was considered virtually axiomatic, and the imposition of rules governing entry, exit and pricing was deemed a priority. The deregulation movement has raised pragmatic questions about these orthodoxies, and, more recently, a new body of economic analysis called the theory of contestable markets has provided a conceptual basis for the view that many markets that are subject to economies of scale should not be regulated by the conventional methods

Topics: Law
Publisher: Yale Law School Legal Scholarship Repository
Year: 1984
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