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The Social Costs of Monopoly and Regulation
Open accessAbstract
This paper presents a model and some highly tentative empirical estimates of the social costs of monopoly and monopoly-inducing regulation in the United States. Unlike the previous studies, it assumes that competition to obtain a monopoly results in the transformation of expected monopoly profits into social costs. A major conclusion is that public regulation is probably a larger source of social costs than private monopoly. The implications of the analysis for several public policy issues, such as appropriate policy toward mergers and price discrimination, are also discussed.
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Citations
Cited by
LEUZ, C., & WYSOCKI, P. D. (2016) · Journal of Accounting Research · doi:10.1111/1475-679x.12115 · Cited by 1,760
Directly Unproductive, Profit-Seeking (DUP) Activities
Bhagwati, J. N. (1982) · Journal of Political Economy · doi:10.1086/261104 · Cited by 1,206
The Tinpot and the Totalitarian: An Economic Theory of Dictatorship
Wintrobe, R. (1990) · American Political Science Review · doi:10.2307/1962769 · Cited by 430
A Philosophy of Intellectual Property
Drahos, P. (2016) · Routledge eBooks · doi:10.4324/9781315263786 · Cited by 435
Mapping modern economic rents: the good, the bad, and the grey areas
Mazzucato, M., Ryan-Collins, J., & Gouzoulis, G. (2023) · Cambridge Journal of Economics · doi:10.1093/cje/bead013 · Cited by 54
Metadata
- Authors
- Posner, R. A.
- Venue
- 40 Years of Research on Rent Seeking 2
- Publisher
- Springer Berlin Heidelberg
- Published
- 1975
- Volume
- 83
- Issue
- 4
- Pages
- 45-65
- OpenAlex
- W2890048301
- Cited by
- 1,303
- References
- 0
- FWCI
- 8.63
- Type
- book chapter
- Language
- en
- Open access
- green
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- CoChat. (2026). Citation check: The Social Costs of Monopoly and Regulation. https://app.cochat.ai/papers/10.1007/978-3-540-79247-5_2
- The paper
- Posner, R. A. (1975). The Social Costs of Monopoly and Regulation. 40 Years of Research on Rent Seeking 2. https://doi.org/10.1007/978-3-540-79247-5_2
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
