2020
DOI: 10.31219/osf.io/utrx6
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James L. Luo

Abstract: This paper develops a non-equilibrium concept to deal with the competition process in the free market and designs time-featured models to analyze the cases of Rockefeller’s monopolization rather than the oligarch models based on Nash equilibrium. It derives some results that are quite different from popular perception of monopoly and reject all accusations of antitrust laws. The conclusion applies to a wide class of markets and extends its application to the field of lawmaking.