Contestability vs. Competition: Once More
批评可竞争性理论，指出其三个关键假设极为严格且其中两个相互矛盾，理论对不完美不稳健，Baumol为用可竞争性取代有效竞争而采用的一系列命题缺乏分析和实证基础。
Baumol, Willig, and other advocates of "contestability" theory continue to urge the idea not only for its insights but also as a clear basis for many antitrust and regulatory decisions. Yet the limits of the theory remain. The three key assumptions are extremely strict, and two of them are in mutual conflict. The theory is not robust to imperfections. In order to displace effective competition with contestability, Baumol must adopt a sequence of implausible propositions which, unfortunately, have little analytical or empirical basis.