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| Author: | Spulber, D. F. |
| Title: | Products liability and monopoly in a contestable market. |
| Journal: | Economica
1988 : AUG, VOL. 55:219, p. 333-341 |
| Index terms: | MONOPOLY PRODUCT LIABILITY COMPETITION |
| Language: | eng |
| Abstract: | Sustainable monopoly prices, outputs and producer care are examined in a contestable market setting under alternative liability rules. The market attains a second-best optimum under strict liability, negligence and no liability. The threat of entry is thus sufficient for a monopoly to supply second-best optimal product quality. Product quality therefore is not determined by market structure. |
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