So goes the theory. There are a great many problems with monopolies, but consumer pain doesn't seem to much be one of them. The econometrics guys say it's not

So goes the theory. There are a great many problems with monopolies, but consumer pain doesn't seem to much be one of them. The econometrics guys say it's not that simple. One of my go to pieces on this is by Stigler here: http://www.econlib.org/library/Enc/Monopoly.html http://www.econlib.org/library/Enc/Monopoly.html