Abstract
In the four years since publication of the contestable markets b ook,a remarkable amount has been published on this subject. Regulatory agencies and antitrust decisions have also adopted policies explicityderived from conte stability analysis. In some special situations contestability analysis has serve d appropriately to justify deregulation or immunity from antitrust, elsewhere it has yielded tools for regulation of market power. The article summarizes these developments, describing pertinent writings by economists, and regulatory and ju dicial decisions. Copyright 1986 by Royal Economic Society.
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