Evaluating the Operational Content of Contestable Market Theory.
AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OH SCHOOL OF ENGINEERING
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Contestable markets are defined and the properties of these markets are developed. Conventional entry barrier theory is reviewed and contrasted with contestable market theory. The criticisms, experimental evidence, and empirical studies relating to the theory are presented. An unpublished study by Allen updated is reviewed and discussed in terms of contestable market theory. Allens analysis does not support the theory. Considerations in developing and implementing an empirical test of contestable market theory are presented. The theory is not considered useful as a general tool for market analysis. Keywords Economic theory. Theses.
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