Construct · 1 fields · 1 citations

contestable markets: a standalone construct

One name. One construct. A landmark on the map.

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Industrial organization

markets in which free entry and costless exit discipline even a few incumbents to price competitively.

In industrial organization, contestable markets refers to markets in which free entry and costless exit discipline even a few incumbents to price competitively. This meaning comes from Baumol (1982/2003) in Growth, Industrial Organization and Economic Generalities.[1]

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Nearby constructs

discipline4 fields · 5 citationsjingle · one word, four constructs growth4 fields · 4 citationsjingle · one word, four constructs

References

Baumol, W. J. (2003). Contestable markets: An uprising in the theory of industry structure. In Growth, Industrial Organization and Economic Generalities (pp. 143-157). Edward Elgar Publishing. (Original work published 1982) https://doi.org/10.4337/9781035304950.00015

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