As to the regulation theories, the analysis is about the public interest regulation theory, the regulation capture theory and the theory on regulatory economy, as well as the micro regulation theory and contestable market theory of Karl Marx.
preference reversal refutes the assumption of preference transitivity. In the development of market theories, the theories of new entry and perfectly contestable market have been developed.
Under the new economic condition, because of the improvement of the organizational form of engineering level and enterprise, make , enter barrier drop , sink cost reduce , form a new one but competitive market, strengthen " potential competition " of the market.
Abstract This paper considers the two new theories in microeconomics: the theory of consumer choice under uncertainty and its developments. and recent developments in market theory. In developments in the theory of choice under uncertainty. fanning indifference curves rejects independence hypothesis of the expected utility model. preference reversal refutes the assumption of preference transitivity. In the development of market theories, the theories of new entry and perfectly contestable market have been d...
The evolution of western regulation theory contains five stages,which are the public interest theory of regulation,the capture theory of regulation, the economic theory of regulation, the theory of contestable markets and the incentive theory of regulation.After introducing the meaning of regulation,the article comments on the five stages in proper order.Moreover,it clarifies the inspiration to the governmental regulation of our country.
This paper tries to classify monopolies according to different entry barriers, and points out that the most important two groups of classifications are the monopolies required by market offi-ciency and the administrative monopolies caused by government intervention. The former group monopolies, because the market tends to be a contestable market for the entry menace of potential en-terers, have to give up most of their supernormal profits, while the administrative monopolies dis-guise the original competiti...