134 BOOK REVIEW identify natural monopolies, detect cross-subsidization, and to determine the prices entrants must pay for access to the incumbents’ networks. The book begins with a concise description of the key contributions econom- ists and their models have made to analysis and policymaking in infrastructure industries. An analysis of the welfare loss entailed in monopoly pricing is followed by descriptions of classic oligopoly models, and a description of the contestable markets theory and its critiques. Jamison’s explanations here, and in the rest of the book, require little formal economic education on the part of the reader beyond possibly an introductory course in microeconomics. Descriptions of the models and economic concepts are accompanied by graphs and simple numerical examples to help illustrate the issues being discussed. A few of the more technical details are relegated to appendices. The book also contains extensive references for readers who wish to delve more deeply into speciﬁc topics. The second chapter is the largest in the book. It is devoted to a description of the evolution of infrastructure markets towards multilateral rivalry. Through a combin- ation of stylized models and real world examples, Jamison provides descriptions of how “traditional” telecommunications, electricity, and natural
Review of Industrial Organization – Springer Journals
Published: Oct 3, 2004
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