Oriol Carbonell‐Nicolau
Abstract
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We consider a shared ownership arrangement among consumers/owners as a means to organize production with an underlying decreasing average cost function typical of natural monopolies. The resulting output allocation yields a lower deadweight loss than the monopoly allocation, and is, in some cases, efficient.
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We consider a shared ownership arrangement among consumers/owners as a means to organize production with an underlying decreasing average cost function typical of natural monopolies. The resulting output allocation yields a lower deadweight loss than the monopoly allocation, and is, in some cases, efficient.
Key concepts: Natural monopoly, Monopoly, Deadweight loss, Production (economics), Microeconomics, Economics, Function (biology), Natural (archaeology)