作者：Columbia University
摘要：The re-emergence of AT&T as the dominant firm in the telephone industry resulted from its adopting a predatory response to entrants. AT&T's strategy was effective because government regulations and capital market imperfections provided the incumbent with a first-mover advantage that prevented challengers from entering simultaneously in all markets.
作者：University of Michigan System; University of Michigan
摘要：The Spanish Monarchy pursued a rational policy of price discrimination among its Castilian currencies while financing its early-seventeenth-century wars. Large-denomination gold and silver coins circulated internationally, forcing the Monarchy to act more competitively and not seek additional short-run revenue. In contrast, petty coinage was a local monopoly. The Monarchy raised seigniorage rates and issued large quantities, generating large revenues. The nominal petty money stock grew rapidly...
