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Title: Contestable Markets and the Theory of Industry Structure by William J. Baumol, John C. Panzar, Robert D. Willig ISBN: 0-15-513911-8 Publisher: Harcourt Pub. Date: 01 January, 1988 Format: Paperback Volumes: 1 List Price(USD): $61.50

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Average Customer Rating: 5 (1 review)

Rating: 5
Summary: Essential reading
Comment: It's not a textbook, yet might be used as one. It's not exactly a monography, yet ex-post may be considered as one. "Contestable Markets..." is a detailed exposition of a consistent theory of market structure and its determinants. In fact, it's built upon innovative work of late 70s and early 80s that not only provided a new set of tools for examining imperfect market structures, and natural monopoly in particular, but also provided (de)regulatory institutions with much needed theoretical agenda in the 80s.

It is an essential reading for anyone specializing in the field of Industrial Organization. Parts of the book may be of use for the advanced microeconomics course.