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- Politecnico di Milano
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- Energy Engineering
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- Energy Economics
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Microeconomics Part 2
Study material for Energy Economics, shared by the Studwiz community and reviewed by moderators.
Energy EconomicsBy topic
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1 ENERGY ECONOMICS 28 March - 05 April 2016 MICROECONOMICS – part 2 2 Summary MINIMUM EFFICIENT SCALE (MES) ............................................................................................................. 3 MARKET CONCENTRATION: THE HERFINDAHL–HIRSCHMAN INDEX (HHI) ............................................ 4 NATURAL MONOPOLY ...............................................................................................................................5 ECONOMIES OF SCALE ...............................................................................................................................5 NATURAL MONOPOLY: PRACTICE APPLICATION .................................................................................... 6 SUNK COSTS ............................................................................................................................................... 7 CONTESTABLE MARKET: subadditivity without sunk costs ........................................................................ 7 MOTIVATION AND GOALS OF REGULATION ........................................................................................... 10 NATURAL MONOPOLY: STRATEGIC BEHAVIOR OF THE INCUMBENT ................................................ 10 Blockaded entry.................................................................................................................................. 10 Deterred entry .................................................................................................................................... 10 Accommodated entry ......................................................................................................................... 10 MOTIVATION OF REGULATION: MARKET FAILURE…
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