A general introduction to the problem of natural monopoly is provided by:
Michael Waterson (1988) Regulation of the Firm and Natural Monopoly, Basil Blackwell: Oxford.
Alternatively, the student may prefer a slightly more accessible review by:
John Vickers and George Yarrow (1985) Privatisation and the Natural Monopolies, Public Policy Centre: London.
Chapter 1 provides a concise discussion of the alternative policies that governments may pursue towards natural monopoly. Chapters 3 and 4 discuss government policy concerning the telecommunications and the electricity supply industry respectively.
For an up-to-date view of the problems and experience of regulation in the fields of gas, water, electricity, telecommunications and railways in the UK see:
M. E. Beesley (ed.) (1994) Regulating Utilities: The Way Forward, Readings No. 41, IEA/London Business School.
In the area of monopoly and restrictive practices policy it is worthwhile reading the recent government White Paper to gain greater awareness of the direction of the present drift of policy:
Opening Markets: New Policies on Restrictive Trade Practices (July 1989) Cm. 727, HMSO: London.
An account of post-war policy up to 1987 is provided in:
E. Victor Morgan (1987) Monopolies, Mergers and Restrictive Practices: UK Competition Policy 1948–87, Hume Paper No. 7, The David Hume Institute: Edinburgh.
For a stimulating and iconoclastic review of anti-trust policy in general read:
Arthur Shenfield's Myth and Reality in Anti-trust (1983) Wincott Memorial Lecture, Occasional Paper 66, Institute of Economic Affairs: London.
Another IEA paper is also useful as a general introduction to the dilemmas involved in controlling mergers and discusses the role of takeovers and the case for and against their control:
Brian Chiplin and Mike Wright (1987) The Logic of Mergers, Hobart Paper 107, Institute of Economic Affairs: London.
One of the authors chaired the Rowntree Committee on Takeovers and the Public Interest and is joint author of the following report which covers merger policy issues:
Alan Peacock and Graham Bannock (1991), Corporate Takeovers and the Public Interest, Aberdeen University Press for David Hume Institute.
The Director General of the Office of Fair Trading has recently considered possible changes to policy in:
Gordon Borrie (1993) ‘How can UK Competition Policy be Improved?’ in Major Issues in Regulation, IEA/London Business School: London.
