In Defense of Monopoly : How Market Power Fosters Creative Production.

Bibliographic Details
Main Author: McKenzie, Richard B.
Other Authors: Lee, Dwight R.
Format: eBook
Language:English
Published: Ann Arbor : University of Michigan Press, 2008.
Edition:1st ed.
Subjects:
Online Access:Click to View
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245 1 0 |a In Defense of Monopoly :  |b How Market Power Fosters Creative Production. 
250 |a 1st ed. 
264 1 |a Ann Arbor :  |b University of Michigan Press,  |c 2008. 
264 4 |c Ã2008. 
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505 0 |a Intro -- Preface -- Chapter 1: "The Wretched Spirit of Monopoly -- Smith, Bentham, and Ricardo on the "Evils" of Monopoly -- Bastiat and Marx on Monopoly as "Plunder" -- Marshall on the "Net Revenues" of Monopoly -- Schumpeter on the Vital Role of the "Monopoloid Specie" -- The Schumpeter Hypothesis -- Concluding Comments -- Chapter 2: Deadweight-Loss Monopoly -- The Efficiency of Perfect Competition -- The Inefficiency of Monopoly -- The Locus of Market Failure: Firms? -- The Locus of Market Failure: Consumers? -- The Added Waste of Rent Seeking -- The Imperfection of Perfection -- Zero Economic Profits -- Transitionary Economic Profits -- Economic Profit as a Source of Capital -- Market Efficiency and the Count of Competitors -- Concluding Comments -- Chapter 3: Monopoly as a Coordination Problem -- The Conventional View of Monopoly -- An Unconventional View of Monopoly -- Changes in Agency Costs -- Innovation -- Concluding Comments -- Appendix: Agency Costs and Cartels -- Chapter 4: Welfare-Enhancing Monopolies -- The Paradox in the Microsoft Antitrust Case -- Unraveling the Paradox -- Digital Markets -- The Relevance and Potential Welfare Value of Entry Barriers -- The Problem of Digital Piracy -- Once Again, Why Monopolies? -- The Microsoft Problem for Microsoft's Competitors -- Concluding Comments -- Chapter 5: Locked-In Consumers -- Consumer Lock-In -- A Product with Network Effects: A Model -- Efficiency Considerations -- Creating Networks -- Concluding Comments -- Chapter 6: Monopoly Prices and the Client and Bonding Effects -- The Client Effect -- The Bonding Effect -- Concluding Comments -- Chapter 7: The Monopsony Problem -- The Conventional Monopsony Model -- The Mysterious Existence of Monopsony -- The Monopsonistic "Company Town" -- Firm and Worker Mobility and Monopsony Market Power -- Concluding Comments. 
505 8 |a Chapter 8: The NCAA: A Case Study of the Misuse of the Monopsony and Monopoly Models -- The Conventional Cartel Argument against the NCAA -- Science as Ideology -- The Mistaken Presumption of "Underpaid" Athletes -- The Mistaken Interpretation of Cheating -- The Mistaken Presumption of Monopsony Power -- Sports Demand and NCAA Membership -- College and University Sports as Games -- College Athletics as an Open Market: A Review of the Legal Literature -- Concluding Comments -- Chapter 9: Monopoly as Entrepreneurship -- The Entrepreneurial Role in Firms and Markets -- Monopoly Rents as Entrepreneurial Entitlement -- The Justice of Entry Barriers Reconsidered -- Monopolies, Public Goods, and the Gains from Price Discrimination -- The Efficiency of Monopoly Failures -- Concluding Comments -- Chapter 10: Property and Monopoly -- Property Rent as Monopoly Theft -- The Property-Monopoly Equivalence -- Copyrights as Monopoly Abuse -- Property in Proper Context -- "Good" and "Bad" Monopolies -- Monopoly Profits versus Economic Profits -- Concluding Comments -- Chapter 11: Summing Up -- Notes -- Bibliography -- Index. 
588 |a Description based on publisher supplied metadata and other sources. 
590 |a Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2023. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.  
655 4 |a Electronic books. 
700 1 |a Lee, Dwight R. 
776 0 8 |i Print version:  |a McKenzie, Richard B.  |t In Defense of Monopoly  |d Ann Arbor : University of Michigan Press,c2008  |z 9780472116157 
797 2 |a ProQuest (Firm) 
856 4 0 |u https://ebookcentral.proquest.com/lib/matrademy/detail.action?docID=6534011  |z Click to View