Durability and Monopoly

  title={Durability and Monopoly},
  author={Ronald H. Coase},
  journal={The Journal of Law and Economics},
  pages={143 - 149}
  • R. Coase
  • Published 1 April 1972
  • Economics, History
  • The Journal of Law and Economics
ASSUME that a supplier owns the total stock of a completely durable good. At what price will he sell it? To take a concrete example, assume that one person owns all the land in the United States and, to simplify the analysis, that all land is of uniform quality. Assume also that the landowner is not able to work the land himself, that ownership of land yields no utility and that there are no costs involved in disposing of the land. If there were a large number of landowners and the price were… 

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