contestability

(redirected from Contestable market)
Also found in: Medical, Financial, Wikipedia.
References in periodicals archive ?
content markets (indeed one and two-sided markets) may in fact be contestable markets, questioning the use of ex ante regulation in the first place;
These kinds of markets are called contestable markets.
CONTESTABLE MARKETS, COMPETITION AND PRIVATE PROPERTY
Hybrid: This is a blend of CTC and QVL systems, where providers must face two contestable markets.
The theory and interpretation of the Panzar-Rosse H statistic Equilibrium Test E = 0 Equilibrium E < 0 Disequilibrium Competitive Conditions Test H [less than or equal to] 0 Monopoly or conjectural variations short run oligopoly H = 1 Perfect competition or natural monopoly in a perfectly contestable market or sales maximizing firm subject to a break even constraint 0< H <1 Monopolistic competition Table 2.
Baumol and Willing (1986) review the use of the theory of contestable market in relation to regulation.
incumbent must, in contestable market theory, compete.
Contestable market policy has potentially important implications for the interpretation of market performance and for the design of economic policy (in particular "competition" or "antitrust policy").
Through a contestable market situation, fares would be kept at a reasonable level and passengers would be better served.
Powercor's five areas of activity comprise the core electricity distribution business and four non-regulated businesses in the engineering and construction sector, in telecommunications, information technology services, and a customer-service business providing services in the contestable market.
The review covers much ground--traditional textbook analyses, the contestable market approach of Baumol, Panzer, and Willig, the application of Coase's classic 1937 article on the extent of the firm, the relevance to electric power, and the history of the concept.
Having acquired Go Fly, one of the very few other potential buyers of significant numbers of aircraft, we have exploited the contestable market to its full potential.