Market aspects of waterworks - theory of natural monopoly
2007
Nestorovic, Z.,Hidroenergetski i plovidbeni sistem Djerdap 1, Kladovo (Serbia)
Scarce natural resources which are important for development of society or civilization itself are the issue of research for economists from the point of view of their efficient utilization. Theory of natural monopoly asserts that for society is better to treat scarce resources as monopoly than to put them on free market. The assertion is that it is better to invest in development of other markets than into free competition in sphere of some scarce resources. Main aim of this paper is to overview some elements of theory of natural monopoly.
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