Baumol, Panzar, and Willig’s Theory of Contestable Markets and Industry Structure: A Summary of Reactions

Voxi Heinrich Amavilah

MPRA Paper from University Library of Munich, Germany

Abstract: This paper summarizes reactions to the theory of contestable markets and industry structure. The reactions came immediately after the theory was published. The summary finds that the proposed theory stands on sound grounds. However, empirically the theory leaves much to be desired especially for practical policy in developing countries.

Keywords: Baumol-Panzar-Willig; perfectly contestable; perfectly sustainable; Ramsey welfare criteria; constestable markets; industry structure (search for similar items in EconPapers)
JEL-codes: D21 D43 D63 L11 L16 L22 L29 (search for similar items in EconPapers)
Date: 2012-09-16
New Economics Papers: this item is included in nep-com, nep-his and nep-hpe
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:41974

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