Monopoly Wikipedia

Monopoly Wikipedia Seiten in der Kategorie „Monopoly“

Monopoly (englisch für „Monopol“) ist ein bekanntes US-amerikanisches Brettspiel. Ziel des Spiels ist es, ein Grundstücksimperium aufzubauen und alle. Diese Kategorie umfasst die Artikel zu dem Brettspiel Monopoly. Gesammelt werden Varianten, Ableger und zentrale Personen zu dem Spiel. DKT – Das kaufmännische Talent ist ein Brettspiel mit einem ähnlichen Spielmechanismus wie Monopoly und basiert auf The Landlord's Game. Es ist in​. Parker Brothers war ein Hersteller von Spielzeug und Spielwaren. Das Unternehmen hat über Spiele herausgebracht, darunter Bestseller wie Monopoly. Die Monopoly-Geschichte beginnt im Jahre mit Elizabeth Magie. Erfahre mehr über die erste Monopoly Version und wie sie entstanden.

Monopoly Wikipedia

DKT – Das kaufmännische Talent ist ein Brettspiel mit einem ähnlichen Spielmechanismus wie Monopoly und basiert auf The Landlord's Game. Es ist in​. Die Monopoly-Geschichte beginnt im Jahre mit Elizabeth Magie. Erfahre mehr über die erste Monopoly Version und wie sie entstanden. Diese Kategorie umfasst die Artikel zu dem Brettspiel Monopoly. Gesammelt werden Varianten, Ableger und zentrale Personen zu dem Spiel. Monopoly Wikipedia

Hence, the monopoly would set a price that would maximize the profits that they gain, but cause the consumers to have to pay more for the same good.

For all types of firms including monopoly , firms make their profits biggest at the output level in which the marginal revenue and marginal cost curves meet, known as the profit maximizing output.

But when a firm is a monopoly, the price that the firm sets is the price level of the demand curve for that amount of output.

However, it is better for society if the output level is when the marginal cost and the demand curve meet, which is of a higher output and a lower price than what the monopoly produces.

Hence, since society could be better if more of the good is produced, a deadweight loss is created.

A monopoly is hence not allocatively efficient. Depending on the total cost that the monopoly has, a monopoly may be able to earn supernormal profits in the long run.

This thus allows the monopoly to have money to do costly innovation or become more cost efficient in producing the products or services.

However, there are people who believe that a monopoly may become complacent and not do innovation at all as there is no competition in the market.

A natural monopoly can happen when there is very high barriers to entry that it is not profitable for more firms to enter the market for the level of demand that is present in the market.

A natural monopoly keeps getting increasing economies of scale for the level of demand in the market, and relatively high fixed costs.

A natural monopoly is similar to a normal monopoly and can be inefficient. Hence, governments tend to make laws that controls what the natural monopoly does, mainly to set prices at an affordable level.

From Wikipedia, the free encyclopedia. This article is about the monopolies in economics. For the Parker Brothers board game, see Monopoly game.

Main article: Natural monopoly. This short article can be made longer. A government-granted monopoly also called a " de jure monopoly" is a form of coercive monopoly , in which a government grants exclusive privilege to a private individual or company to be the sole provider of a commodity.

Monopoly may be granted explicitly, as when potential competitors are excluded from the market by a specific law , or implicitly, such as when the requirements of an administrative regulation can only be fulfilled by a single market player, or through some other legal or procedural mechanism, such as patents , trademarks , and copyright.

A monopolist should shut down when price is less than average variable cost for every output level [70] — in other words where the demand curve is entirely below the average variable cost curve.

In an unregulated market, monopolies can potentially be ended by new competition, breakaway businesses, or consumers seeking alternatives.

In a regulated market, a government will often either regulate the monopoly, convert it into a publicly owned monopoly environment, or forcibly fragment it see Antitrust law and trust busting.

Public utilities , often being naturally efficient with only one operator and therefore less susceptible to efficient breakup, are often strongly regulated or publicly owned.

The law regulating dominance in the European Union is governed by Article of the Treaty on the Functioning of the European Union which aims at enhancing the consumer's welfare and also the efficiency of allocation of resources by protecting competition on the downstream market.

Competition law does not make merely having a monopoly illegal, but rather abusing the power a monopoly may confer, for instance through exclusionary practices i.

It may also be noted that it is illegal to try to obtain a monopoly, by practices of buying out the competition, or equal practices.

If one occurs naturally, such as a competitor going out of business, or lack of competition, it is not illegal until such time as the monopoly holder abuses the power.

First it is necessary to determine whether a company is dominant, or whether it behaves "to an appreciable extent independently of its competitors, customers and ultimately of its consumer".

Establishing dominance is a two-stage test. The first thing to consider is market definition which is one of the crucial factors of the test.

As the definition of the market is of a matter of interchangeability, if the goods or services are regarded as interchangeable then they are within the same product market.

It is necessary to define it because some goods can only be supplied within a narrow area due to technical, practical or legal reasons and this may help to indicate which undertakings impose a competitive constraint on the other undertakings in question.

Since some goods are too expensive to transport where it might not be economic to sell them to distant markets in relation to their value, therefore the cost of transporting is a crucial factor here.

Other factors might be legal controls which restricts an undertaking in a Member States from exporting goods or services to another.

Market definition may be difficult to measure but is important because if it is defined too broadly, the undertaking may be more likely to be found dominant and if it is defined too narrowly, the less likely that it will be found dominant.

As with collusive conduct, market shares are determined with reference to the particular market in which the company and product in question is sold.

It does not in itself determine whether an undertaking is dominant but work as an indicator of the states of the existing competition within the market.

It sums up the squares of the individual market shares of all of the competitors within the market.

The lower the total, the less concentrated the market and the higher the total, the more concentrated the market.

By European Union law, very large market shares raise a presumption that a company is dominant, which may be rebuttable. The lowest yet market share of a company considered "dominant" in the EU was If a company has a dominant position, then there is a special responsibility not to allow its conduct to impair competition on the common market however these will all falls away if it is not dominant.

When considering whether an undertaking is dominant, it involves a combination of factors. Each of them cannot be taken separately as if they are, they will not be as determinative as they are when they are combined together.

According to the Guidance, there are three more issues that must be examined. They are actual competitors that relates to the market position of the dominant undertaking and its competitors, potential competitors that concerns the expansion and entry and lastly the countervailing buyer power.

Market share may be a valuable source of information regarding the market structure and the market position when it comes to accessing it.

The dynamics of the market and the extent to which the goods and services differentiated are relevant in this area.

It concerns with the competition that would come from other undertakings which are not yet operating in the market but will enter it in the future.

So, market shares may not be useful in accessing the competitive pressure that is exerted on an undertaking in this area. The potential entry by new firms and expansions by an undertaking must be taken into account, [81] therefore the barriers to entry and barriers to expansion is an important factor here.

Competitive constraints may not always come from actual or potential competitors. Sometimes, it may also come from powerful customers who have sufficient bargaining strength which come from its size or its commercial significance for a dominant firm.

There are three main types of abuses which are exploitative abuse, exclusionary abuse and single market abuse.

It arises when a monopolist has such significant market power that it can restrict its output while increasing the price above the competitive level without losing customers.

This is most concerned about by the Commissions because it is capable of causing long- term consumer damage and is more likely to prevent the development of competition.

It arises when a dominant undertaking carrying out excess pricing which would not only have an exploitative effect but also prevent parallel imports and limits intra- brand competition.

Despite wide agreement that the above constitute abusive practices, there is some debate about whether there needs to be a causal connection between the dominant position of a company and its actual abusive conduct.

Furthermore, there has been some consideration of what happens when a company merely attempts to abuse its dominant position.

To provide a more specific example, economic and philosophical scholar Adam Smith cites that trade to the East India Company has, for the most part, been subjected to an exclusive company such as that of the English or Dutch.

Monopolies such as these are generally established against the nation in which they arose out of. The profound economist goes on to state how there are two types of monopolies.

The first type of monopoly is one which tends to always attract to the particular trade where the monopoly was conceived, a greater proportion of the stock of the society than what would go to that trade originally.

The second type of monopoly tends to occasionally attract stock towards the particular trade where it was conceived, and sometimes repel it from that trade depending on varying circumstances.

Rich countries tended to repel while poorer countries were attracted to this. For example, The Dutch company would dispose of any excess goods not taken to the market in order to preserve their monopoly while the English sold more goods for better prices.

Both of these tendencies were extremely destructive as can be seen in Adam Smith's writings. The term "monopoly" first appears in Aristotle 's Politics.

Vending of common salt sodium chloride was historically a natural monopoly. Until recently, a combination of strong sunshine and low humidity or an extension of peat marshes was necessary for producing salt from the sea, the most plentiful source.

Changing sea levels periodically caused salt " famines " and communities were forced to depend upon those who controlled the scarce inland mines and salt springs, which were often in hostile areas e.

The Salt Commission was a legal monopoly in China. Formed in , the Commission controlled salt production and sales in order to raise tax revenue for the Tang Dynasty.

The " Gabelle " was a notoriously high tax levied upon salt in the Kingdom of France. The much-hated levy had a role in the beginning of the French Revolution , when strict legal controls specified who was allowed to sell and distribute salt.

First instituted in , the Gabelle was not permanently abolished until Robin Gollan argues in The Coalminers of New South Wales that anti-competitive practices developed in the coal industry of Australia's Newcastle as a result of the business cycle.

The monopoly was generated by formal meetings of the local management of coal companies agreeing to fix a minimum price for sale at dock.

This collusion was known as "The Vend". The Vend ended and was reformed repeatedly during the late 19th century, ending by recession in the business cycle.

During the early 20th century, as a result of comparable monopolistic practices in the Australian coastal shipping business, the Vend developed as an informal and illegal collusion between the steamship owners and the coal industry, eventually resulting in the High Court case Adelaide Steamship Co.

Ltd v. Standard Oil was an American oil producing, transporting, refining, and marketing company. Established in , it became the largest oil refiner in the world.

Rockefeller was a founder, chairman and major shareholder. The company was an innovator in the development of the business trust.

The Standard Oil trust streamlined production and logistics, lowered costs, and undercut competitors.

Its controversial history as one of the world's first and largest multinational corporations ended in , when the United States Supreme Court ruled that Standard was an illegal monopoly.

The Standard Oil trust was dissolved into 33 smaller companies; two of its surviving "child" companies are ExxonMobil and the Chevron Corporation.

Steel has been accused of being a monopoly. Morgan and Elbert H. Gary founded U. Steel was the largest steel producer and largest corporation in the world.

In its first full year of operation, U. Steel made 67 percent of all the steel produced in the United States. However, U. Steel's share of the expanding market slipped to 50 percent by , [93] and antitrust prosecution that year failed.

De Beers settled charges of price fixing in the diamond trade in the s. De Beers is well known for its monopoloid practices throughout the 20th century, whereby it used its dominant position to manipulate the international diamond market.

The company used several methods to exercise this control over the market. Firstly, it convinced independent producers to join its single channel monopoly, it flooded the market with diamonds similar to those of producers who refused to join the cartel, and lastly, it purchased and stockpiled diamonds produced by other manufacturers in order to control prices through limiting supply.

In , the De Beers business model changed due to factors such as the decision by producers in Russia, Canada and Australia to distribute diamonds outside the De Beers channel, as well as rising awareness of blood diamonds that forced De Beers to "avoid the risk of bad publicity" by limiting sales to its own mined products.

A public utility or simply "utility" is an organization or company that maintains the infrastructure for a public service or provides a set of services for public consumption.

Common examples of utilities are electricity , natural gas , water , sewage , cable television , and telephone. In the United States, public utilities are often natural monopolies because the infrastructure required to produce and deliver a product such as electricity or water is very expensive to build and maintain.

Western Union was criticized as a " price gouging " monopoly in the late 19th century. In the case of Telecom New Zealand , local loop unbundling was enforced by central government.

Telkom is a semi-privatised, part state-owned South African telecommunications company. Deutsche Telekom is a former state monopoly, still partially state owned.

The Comcast Corporation is the largest mass media and communications company in the world by revenue. Comcast has a monopoly in Boston , Philadelphia , and many other small towns across the US.

The United Aircraft and Transport Corporation was an aircraft manufacturer holding company that was forced to divest itself of airlines in In the s, LIRR became the sole railroad in that area through a series of acquisitions and consolidations.

In , the LIRR's commuter rail system is the busiest commuter railroad in North America, serving nearly , passengers daily.

Dutch East India Company was created as a legal trading monopoly in The Vereenigde Oost-Indische Compagnie enjoyed huge profits from its spice monopoly through most of the 17th century.

The British East India Company was created as a legal trading monopoly in The Company traded in basic commodities, which included cotton , silk , indigo dye , salt , saltpetre , tea and opium.

Major League Baseball survived U. The National Football League survived antitrust lawsuit in the s but was convicted of being an illegal monopoly in the s.

According to professor Milton Friedman , laws against monopolies cause more harm than good, but unnecessary monopolies should be countered by removing tariffs and other regulation that upholds monopolies.

A monopoly can seldom be established within a country without overt and covert government assistance in the form of a tariff or some other device.

It is close to impossible to do so on a world scale. The De Beers diamond monopoly is the only one we know of that appears to have succeeded and even De Beers are protected by various laws against so called "illicit" diamond trade.

However, professor Steve H. Hanke believes that although private monopolies are more efficient than public ones, often by a factor of two, sometimes private natural monopolies, such as local water distribution, should be regulated not prohibited by, e.

Thomas DiLorenzo asserts, however, that during the early days of utility companies where there was little regulation, there were no natural monopolies and there was competition.

Baten , Bianchi and Moser [] find historical evidence that monopolies which are protected by patent laws may have adverse effects on the creation of innovation in an economy.

They argue that under certain circumstances, compulsory licensing — which allows governments to license patents without the consent of patent-owners — may be effective in promoting invention by increasing the threat of competition in fields with low pre-existing levels of competition.

From Wikipedia, the free encyclopedia. This article is about the economic term. For the board game, see Monopoly game.

For other uses, see Monopoly disambiguation. Market structure with a single firm dominating the market. The price of monopoly is upon every occasion the highest which can be got.

The natural price , or the price of free competition , on the contrary, is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together.

The one is upon every occasion the highest which can be squeezed out of the buyers, or which it is supposed they will consent to give; the other is the lowest which the sellers can commonly afford to take, and at the same time continue their business.

Main article: Natural monopoly. Main article: Government-granted monopoly. This section does not cite any sources. Please help improve this section by adding citations to reliable sources.

Unsourced material may be challenged and removed. June Learn how and when to remove this template message. Main article: Competition law.

The examples and perspective in this section may not represent a worldwide view of the subject. You may improve this section , discuss the issue on the talk page , or create a new section, as appropriate.

September Learn how and when to remove this template message. See also: Salt March. The neutrality of this article is questioned because it may show systemic bias.

In particular, there may be a strong bias in favor of Capitalism. Please see the discussion on the talk page. Please do not remove this message until the issue is resolved.

June Business and economics portal. Complementary monopoly Monopsony De facto standard Demonopolization Dominant design Flag carrier History of monopoly Market segmentation index , used to measure the degree of monopoly power Megacorporation Ramsey problem , a policy rule concerning what price a monopolist should set.

Simulations and games in economics education that model monopolistic markets. State monopoly capitalism Unfair competition. Capitalism and Freedom paperback 40th anniversary ed.

The University of Chicago Press. Microeconomics: Principles and Policy paperback. Thomson South-Western. Southern California Law Review.

Microeconomics in Context 2nd ed. Managerial Economics 4th ed. Intermediate Microeconomics. Managerial Economics.

Microeconomics, The Freedom to Choose. CAT Publishing. Microeconomics 5th ed. Microeconomic Analysis 3rd ed. Price is exogenous and it is possible to associate each price with unique profit maximizing quantity.

Besanko, David, and Ronald Braeutigam, Microeconomics 2nd ed. Microeconomics with Calculus 2nd ed. Microeconomics Demystified. McGraw Hill.

Lloyds Bank Review : 38— Against intellectual monopoly. Cambridge University Press. Houghton Mifflin. Microeconomics 2nd ed. American Economic Review.

Archived from the original on 2 June Retrieved 28 March Microeconomics: Theory and Applications 2nd ed. That is the company is behaving like a perfectly competitive company.

The monopolist will continue to sell extra units as long as the extra revenue exceeds the marginal cost of production.

The problem that the company has is that the company must charge a different price for each successive unit sold.

Pindyck and Rubinfeld , pp. Using this equation the manager can obtain elasticity information and set prices for each segment.

As a rule of thumb the company's elasticity coefficient is 5 to 6 times that of the industry. The reason there is not any popcorn discount is that there is not any effective way to prevent resell.

A profit maximizing theater owner maximizes concession sales by selling where marginal revenue equals marginal cost. Economics: A Contemporary Introduction.

Cengage Learning. McConnell, Stanley L. Government-Granted Monopoly. Detroit: Gale Cengage Learning. Retrieved 6 November Microeconomics and Behavior 7th ed.

Politics B. In Epstein, I. The Talmud. Zeraim vol. London: The Soncino Press. Rabbi Judah agrees that if a man bought from a monopolist, he must tithe every heap.

Journal of the History of Economic Thought. Presses universitaires de France: — The Coalminers of New South Wales: a history of the union, — Melbourne: Melbourne University Press.

Exxon Mobil Corp. Retrieved Rockefeller , Jay Gould , and J.

Retrieved September 2, https://curlyque.co/gratis-online-casino/beste-spielothek-in-treppach-finden.php Archived from the original on 2 June Otherwise, the player advances to the nearest property Mobile Home which rent is owed. Jos pelaaja saapuu Vankila-ruutuun normaalisti "käy vankilassa"hän voi lähteä sieltä vapaasti kuten muistakin ruuduista. This web page second edition is more a spin-off as the winning condition has changed to completing your passport instead of bankrupting your opponents. Kevin McCarthy. Vuonna julkaistiin interaktiivinen Monopoly Palmusaaren pohatta DVD-peli, jossa pelaaja voi ostaa lomakohteita. In particular, there may be a strong bias in favor of Capitalism. Pelaajat voivat vaihtaa tai myydä ja ostaa tontteja keskenään.

Monopoly Wikipedia Inhaltsverzeichnis

Kinder bauen Häuser und Hotels. Arktos Seeschauminseln 75 Hypothekenwert Grundpreis. Natürlich um Monopoly, — das erfolgreichste Gesellschaftsspiel der Welt. Die Bank kann niemals pleitegehen. Dessen Erkenntnisse wollte sie den Menschen mit einem Brettspiel nahebringen: arbeitslose Einkünfte des Grundbesitzers auf der einen Seite schaffen Armut und Verelendung auf der anderen Seite. Mehr als Millionen Stück sind seither Beste Spielothek Almsloh finden worden, etwa fünfeinhalb Milliarden Monopoly-Häuschen wurden bisher produziert — das ist grob gerechnet eines für jedes reale Wohnhaus auf der Welt. Doch die lehnten das Spiel wegen 52 fundamentaler Fehler ab. Das Spiel endet auch dann, wenn nur noch ein Spieler übrig Auszahlung DrГјckglГјck.

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In the game, players roll two six-sided dice to move around the game board, buying and trading properties, and developing them with houses and hotels.

Players collect rent from their opponents, with the goal being to drive them into bankruptcy. Money can also be gained or lost through Chance and Community Chest cards, and tax squares; players can end up in jail, which they cannot move from until they have met one of several conditions.

The game has numerous house rules , and hundreds of different editions exist, as well as many spin-offs and related media.

Monopoly has become a part of international popular culture, having been licensed locally in more than countries and printed in more than 37 languages.

Monopoly is derived from The Landlord's Game created by Lizzie Magie in the United States in as a way to demonstrate that an economy which rewards wealth creation is better than one where monopolists work under few constraints, [1] and to promote the economic theories of Henry George —in particular his ideas about taxation.

The game is named after the economic concept of monopoly —the domination of a market by a single entity. The history of Monopoly can be traced back to , [1] when American anti-monopolist Lizzie Magie created a game which she hoped would explain the single tax theory of Henry George.

It was intended as an educational tool to illustrate the negative aspects of concentrating land in private monopolies. She took out a patent in Her game, The Landlord's Game , was self-published, beginning in Magie created two sets of rules: an anti-monopolist set in which all were rewarded when wealth was created, and a monopolist set in which the goal was to create monopolies and crush opponents.

Several variant board games, based on her concept, were developed from through the s; they involved both the process of buying land for its development and the sale of any undeveloped property.

Cardboard houses were added and rents increased as they were added to a property. Magie patented the game again in According to an advertisement placed in The Christian Science Monitor , Charles Todd of Philadelphia recalled the day in when his childhood friend, Esther Jones, and her husband Charles Darrow came to their house for dinner.

After the meal, the Todds introduced Darrow to The Landlord's Game , which they then played several times.

The game was entirely new to Darrow, and he asked the Todds for a written set of the rules. After that night, Darrow went on to utilize this and distribute the game himself as Monopoly.

Parker Brothers bought the game's copyrights from Darrow. Parker Brothers began marketing the game on November 5, Alexander contributed the design.

In , Parker Brothers began licensing the game for sale outside the United States. They were distributed to prisoners by fake charity organizations created by the British Secret Service.

In the Nazi-occupied Netherlands, the German government and its collaborators were displeased with Dutch people using Monopoly Game sets with American or British locales, and developed a version with Dutch locations.

Since that version had in itself no specific pro-Nazi elements, it continued in use after the war, and formed the base for Monopoly games used in the Netherlands up to the present.

Economics professor Ralph Anspach published a game Anti-Monopoly in , and was sued for trademark infringement by Parker Brothers in The case went to trial in Anspach won on appeals in , as the 9th Circuit Court determined that the trademark Monopoly was generic and therefore unenforceable.

This decision was overturned by the passage of Public Law in However, Anti-Monopoly was exempted from the law and Anspach later reached a settlement with Hasbro and markets his game under license from them.

The research that Anspach conducted during the course of the litigation was what helped bring the game's history before Charles Darrow into the spotlight.

In , Hasbro acquired Parker Bros. Hasbro moved to create and license many other versions of Monopoly and sought public input in varying the game.

National Championship. In , the Speed Die was added to all regular Monopoly set. M has the five-star, room hotel, then under construction, located at the M Bukit Bintang in Kuala Lumpur and would have a s Gatsby feel.

M's Sirocco Group would manage the hotel when it opens in There have since been some changes to the board. Monopoly character then known as "Rich Uncle Pennybags" were added in that same time-frame.

Traditionally, the Community Chest cards were yellow although they were sometimes printed on blue stock with no decoration or text on the back; the Chance cards were orange with no text or decoration on the back.

Hasbro commissioned a major graphic redesign to the U. Standard Edition of the game in along with some minor revisions.

Among the changes: the colors of Mediterranean and Baltic Avenues changed from purple to brown, and the colors of the GO square changed from red to black.

All the Chance and Community Chest cards received a graphic upgrade in as part of the graphic refresh of the game.

Monopoly's classic line illustration was also now usually replaced by renderings of a 3D Mr. Monopoly model.

The backs of the cards have their respective symbols, with Community Chest cards in blue, and Chance cards in orange.

In the U. Charles Place no longer exists, as the Showboat Atlantic City was developed where it once ran.

Marvin Gardens, the farthest yellow property, is a misspelling of its actual name, Marven Gardens.

It was passed on when their homemade Monopoly board was copied by Darrow and then by Parker Brothers. A booklet included with the reprinted edition states that the four railroads that served Atlantic City in the mids were the Jersey Central , the Seashore Lines , the Reading Railroad , and the Pennsylvania Railroad.

There is a tunnel in Philadelphia where track to the south was B. The Central of N. In the s, John Waddington Ltd.

Waddingtons was a printing company in Leeds that had begun to branch out into packaging and the production of playing cards. In a similar fashion, Parker Brothers sent over a copy of Monopoly to Waddingtons early in before the game had been put into production in the United States.

Victor Watson, the managing director of Waddingtons, gave the game to his son Norman, head of the card games division, to test over the weekend.

Watson felt that for the game to be a success in the United Kingdom, the American locations would have to be replaced, so Victor and his secretary, Marjory Phillips, went to London to scout out locations.

It had been a coaching inn that stood on the Great North Road. By the s, the inn had become a J.

Lyons and Co. Some accounts say that Marjory and Victor met at the Angel to discuss the selection and celebrated the fact by including it on the Monopoly board.

In , a plaque commemorating the naming was unveiled at the site by Victor Watson's grandson, who is also named Victor.

During World War II, the British Secret Service contacted Waddington who could also print on silk to make Monopoly sets that included escape maps, money, a compass and file, all hidden in copies of the game sent by fake POW relief charities to prisoners of war.

The standard British board, produced by Waddingtons, was for many years the version most familiar to people in countries in the Commonwealth except Canada, where the U.

In , Winning Moves procured the Monopoly license from Hasbro and created new UK city and regional editions [48] with sponsored squares.

Initially, in December , the game was sold in just a few W H Smith stores, but demand was high, with almost fifty thousand games shipped in the four weeks leading to Christmas.

Winning Moves still produces new city and regional editions annually. The original income tax choice from the s U.

In , the U. Beginning in the U. The success of the first Here and Now editions prompted Hasbro U. Game play is further changed with bus tickets allowing non-dice-roll movement along one side of the board , a speed die itself adopted into variants of the Atlantic City standard edition ; see below , skyscrapers after houses and hotels , and train depots that can be placed on the Railroad spaces.

This edition was adapted for the U. In September , the U. This edition features top landmarks across the U. Monetary values are multiplied by 10, e.

The board uses the traditional U. However, a similar edition of Monopoly , the Electronic Banking edition, does feature an electronic banking unit and bank cards, as well as a different set of tokens.

No other state is represented by more than one city not including the airports. One landmark, Texas Stadium , has been demolished and no longer exists.

Another landmark, Jacobs Field, still exists, but was renamed Progressive Field in In , in honor of the game's 80th birthday, Hasbro held an online vote to determine which cities would make it into an updated version of the Here and Now edition of the game.

This second edition is more a spin-off as the winning condition has changed to completing your passport instead of bankrupting your opponents.

Community Chest is replaced with Here and Now cards while the Here and Now space replaced the railroads. Houses and hotels have been removed.

Monopoly Empire has uniquely branded tokens and places based on popular brands. Instead of buying properties, players buy popular brands one by one and slide their billboards onto their Empire towers.

Instead of building houses and hotels, players collect rent from their rivals based on their tower height. How a player wins is by being the first player to fill his or her tower with billboards.

This version of Monopoly contains an extra eight "golden" tokens. That includes a penguin, a television, a race car, a Mr.

Monopoly emoji, a rubber duck, a watch, a wheel and a bunny slipper. During the game, players travel around the gameboard buying properties and collecting rent.

If they land on a Chance space, or roll the Chance icon on a die, they can spin the Chance spinner to try to make more money. Players may hit the "Jackpot", go bankrupt, or be sent to Jail.

The player who has the most cash when the bank crashes wins. In this version, there is no cash. The Monopoly Ultimate Banking game features an electronic ultimate banking piece with touch technology.

Players can buy properties instantly and set rents by tapping. Each player has a bankcard and their cash is tracked by the Ultimate Banking unit.

It can scan the game's property cards and boost or crash the market. Event cards and Location spaces replace Chance and Community Chest cards.

On an Event Space, rents may be raised or lowered, a player may earn or lose money, or someone could be sent to Jail.

Location Spaces allow players to pay and move to any property space on the gameboard. In this version, there's no cash or cards.

The Voice Banking game allows the player to respond with your voice with the Top Hat. The hat responds by purchasing properties, paying rent, and making buildings.

Monopoly is a version of the game released in , in which female players earn more than male players. All property deeds, houses, and hotels are held by the bank until bought by the players.

A standard set of Monopoly pieces includes:. A deck of thirty-two Chance and Community Chest cards sixteen each which players draw when they land on the corresponding squares of the track, and follow the instructions printed on them.

A title deed for each property is given to a player to signify ownership, and specifies purchase price, mortgage value, the cost of building houses and hotels on that property, and the various rents depending on how developed the property is.

Properties include:. A pair of six-sided dice is included, with a " Speed Die " added for variation in The Millennium Edition featured two jewel-like dice which were the subject of a lawsuit from Michael Bowling, owner of dice maker Crystal Caste.

Unlike money, houses and hotels have a finite supply. If no more are available, no substitute is allowed. In most editions, houses are green and hotels red.

Older U. Newer September and later U. Before September , the money was divided with greater numbers of 20 and dollar bills. Since then, the U.

Although the U. However, the amount of cash contained in the game is enough for eight players with a slight alteration of bill distribution.

Pre-Euro German editions of the game started with 30, "Spielmark" in eight denominations abbreviated as "M.

In the classic Italian game, each player received L. The classic Italian games were played with only four denominations of currency.

Both Spanish editions the Barcelona and Madrid editions started the game with , in play money, with a breakdown identical to that of the American version.

According to the Parker Brothers rules, Monopoly money is theoretically unlimited; if the bank runs out of money it may issue as much as needed "by merely writing on any ordinary paper".

In several countries there is also a version of the game that features electronic banking. Instead of receiving paper money, each player receives a plastic bank card that is inserted into a calculator-like electronic device that keeps track of the player's balance.

Each player is represented by a small metal or plastic token that is moved around the edge of the board according to the roll of two six-sided dice.

The number of tokens and the tokens themselves have changed over the history of the game with many appearing in special editions only, and some available with non-game purchases.

After prints with wood tokens in , a set of eight tokens was introduced. Many of the early tokens were created by companies such as Dowst Miniature Toy Company, which made metal charms and tokens designed to be used on charm bracelets.

The battleship and cannon were also used briefly in the Parker Brothers war game Conflict released in , but after the game failed on the market, the premade pieces were recycled for Monopoly usage.

These tokens remained the same until the late s, when Parker Brothers was sold to Hasbro. In , a Hasbro advertising campaign asked the public to vote on a new playing piece to be added to the set.

The candidates were a "bag of money", a bi-plane, and a piggy bank. In , a similar promotional campaign was launched encouraging the public to vote on one of several possible new tokens to replace an existing one.

The choices were a guitar, a diamond ring, a helicopter, a robot, and a cat. Both were chosen by a vote that ran on Facebook from January 8 to February 5, By March 17, , Hasbro retired three tokens which included the thimble, wheelbarrow, and boot, these were replaced by a penguin, a Tyrannosaurus and a rubber duck.

Over the years Hasbro has released tokens for special or collector's editions of the game. One of the first tokens to come out included a Steam Locomotive which was only released in Deluxe Editions.

Shortly after the Facebook voting campaign, a limited-edition Golden Token set was released exclusively at various national retailers, such as Target in the U.

These replacement tokens included the cat, the guitar, the diamond ring, the helicopter, and the robot.

Players take turns in order with the initial player determined by chance before the game. A typical turn begins with the rolling of the dice and advancing a piece clockwise around the board the corresponding number of squares.

If a player rolls doubles, they roll again after completing that portion of their turn. A player who rolls three consecutive sets of doubles on one turn has been "caught speeding" and is immediately sent to jail instead of moving the amount shown on the dice for the third roll.

Players who land on either Income Tax or Luxury Tax pay the indicated amount to the bank. No calculation could be made before the choice, and no latitude was given for reversing an unwise calculation.

No reward or penalty is given for landing on Free Parking. Properties can only be developed once a player owns all the properties in that color group.

They then must be developed equally. A house must be built on each property of that color before a second can be built. Each property within a group must be within one house level of all the others within that group.

If a player lands on a Chance or Community Chest space, they draw the top card from the respective deck and follow its instructions.

This may include collecting or paying money to the bank or another player or moving to a different space on the board.

When a player is sent to jail, they move directly to the Jail space and their turn ends " Do not pass Go. If an ordinary dice roll not one of the above events ends with the player's token on the Jail corner, they are "Just Visiting" and can move ahead on their next turn without incurring any penalty.

If a player fails to roll doubles, they lose their turn. Players in jail may not buy properties directly from the bank since they are unable to move.

A player who rolls doubles to leave jail does not roll again; however, if the player pays the fine or uses a card to get out and then rolls doubles, they do take another turn.

If the player lands on an unowned property, whether street, railroad, or utility, they can buy the property for its listed purchase price.

If they decline this purchase, the property is auctioned off by the bank to the highest bidder, including the player who declined to buy.

When a player owns all the properties in a color group and none of them are mortgaged, they may develop them during their turn or in between other player's turns.

Development involves buying miniature houses or hotels from the bank and placing them on the property spaces; this must be done uniformly across the group.

That is, a second house cannot be built on any property within a group until all of them have one house. Once the player owns an entire group, they can collect double rent for any undeveloped properties within it.

Although houses and hotels cannot be built on railroads or utilities, the given rent increases if a player owns more than one of either type.

If there is a housing shortage more demand for houses to be built than what remains in the bank , then a housing auction is conducted to determine who will get to purchase each house.

Properties can also be mortgaged, although all developments on a monopoly must be sold before any property of that color can be mortgaged or traded.

The player receives half the purchase price from the bank for each mortgaged property. Houses and hotels can be sold back to the bank for half their purchase price.

Players cannot collect rent on mortgaged properties and may not give improved property away to others; however, trading mortgaged properties is allowed.

A player who cannot pay what they owe is bankrupt and eliminated from the game. If the bankrupt player owes the bank, they must turn all their assets over to the bank, who then auctions off their properties if they have any , except buildings.

If the debt is owed to another player instead, all assets are given to that opponent, except buildings which must be returned to the bank.

The winner is the remaining player left after all of the others have gone bankrupt. If a player runs out of money but still has assets that can be converted to cash, they can do so by selling buildings, mortgaging properties, or trading with other players.

To avoid bankruptcy the player must be able to raise enough cash to pay the full amount owed. A player cannot choose to go bankrupt; if there is any way to pay what they owe, even by returning all their buildings at a loss, mortgaging all their real estate and giving up all their cash, even knowing they are likely going bankrupt the next time, they must do so.

From , the rules booklet included with each Monopoly set contained a short section at the end providing rules for making the game shorter, including dealing out two Title Deed cards to each player before starting the game, by setting a time limit or by ending the game after the second player goes bankrupt.

A later version of the rules included this variant, along with the time limit game, in the main rules booklet, omitting the last, the second bankruptcy method, as a third short game.

Many house rules have emerged for the game throughout its history. Well-known is the "Free Parking jackpot rule", where all the money collected from Income Tax, Luxury Tax, Chance and Community Chest goes to the center of the board instead of the bank.

When a player lands on Free Parking, they may take the money. Since these rules provide additional cash to players regardless of their property management choices, they can lengthen the game considerably and limit the role of strategy.

Video game and computer game versions of Monopoly have options where popular house rules can be used.

In , Hasbro determined five popular house rules by public Facebook vote, and released a "House Rules Edition" of the board game. Rules selected include a "Free Parking" house rule without additional money and forcing players to traverse the board once before buying properties.

Among the property groups, the Railroads are most frequently landed upon, as no other group has four properties; Orange has the next highest frequency, followed by Red.

One common criticism of Monopoly is that although it has carefully defined termination conditions, it may take an unlimited amount of time to reach them.

Edward P. Parker, a former president of Parker Brothers , is quoted as saying, "We always felt that forty-five minutes was about the right length for a game, but Monopoly could go on for hours.

Also, a game was supposed to have a definite end somewhere. In Monopoly you kept going around and around. Hasbro states that the longest game of Monopoly ever played lasted 70 days.

Numerous add-ons have been produced for Monopoly , sold independently from the game both before its commercialization and after, with three official ones discussed below:.

Shortly after Capitol Novelty introduced Stock Exchange , Parker Brothers bought it from them then marketed their own, slightly redesigned, version as an add-on specifically for their "new" Monopoly game; the Parker Brothers version was available in June The Free Parking square is covered over by a new Stock Exchange space and the add-on included three Chance and three Community Chest cards directing the player to "Advance to Stock Exchange".

The Stock Exchange add-on was later redesigned and re-released in under license by Chessex , this time including a larger number of new Chance and Community Chest cards.

Many of the original rules applied to this new version in fact, one optional play choice allows for playing in the original form by only adding the "Advance to Stock Exchange" cards to each deck.

This was a full edition, not just an add-on, that came with its own board, money and playing pieces.

Properties on the board were replaced by companies on which shares could be floated, and offices and home offices instead of houses and hotels could be built.

Playmaster, another official add-on, released in , is an electronic device that keeps track of all player movement and dice rolls as well as what properties are still available.

It then uses this information to call random auctions and mortgages making it easier to free up cards of a color group.

It also plays eight short tunes when key game functions occur; for example when a player lands on a railroad it plays " I've Been Working on the Railroad ", and a police car's siren sounds when a player goes to Jail.

In , Hasbro released two minigames that can be played as stand-alone games or combined with the Monopoly game. In Get Out of Jail , the goal is to manipulate a spade under a jail cell to flick out various colored prisoners.

The game can be used as an alternative to rolling doubles to get out of jail. The Free Parking add-on can also be used with the Monopoly game.

When a player lands on the Free Parking, the player can take the Taxi Challenge, and if successful, can move to any space on the board.

First included in Winning Moves' Monopoly: The Mega Edition variant, this third, six-sided die is rolled with the other two, and accelerates game-play when in use.

Its faces are: 1, 2, 3, two " Mr. Monopoly " sides, and a bus. The numbers behave as normal, adding to the other two dice, unless a "triple" is rolled, in which case the player can move to any space on the board.

If "Mr. Monopoly" is rolled while there are unowned properties, the player advances forward to the nearest one. Otherwise, the player advances to the nearest property on which rent is owed.

In the Monopoly: Mega Edition , rolling the bus allows the player to take the regular dice move, then either take a bus ticket or move to the nearest draw card space.

Mega rules specifies that triples do not count as doubles for going to jail as the player does not roll again. In these editions it remains optional, although use of the Speed Die was made mandatory for use in the U.

Parker Brothers and its licensees have also sold several spin-offs of Monopoly. These are not add-ons, as they do not function as an addition to the Monopoly game, but are simply additional games with the flavor of Monopoly :.

Besides the many variants of the actual game and the Monopoly Junior spin-off released in either video game or computer game formats e.

Monopoly -themed slot machines and lotteries have been produced by WMS Gaming in conjunction with International Game Technology for land-based casinos.

London's Gamesys Group have also developed Monopoly -themed gambling games. There was also a live, online version of Monopoly. Six painted taxis drive around London picking up passengers.

When the taxis reach their final destination, the region of London that they are in is displayed on the online board. This version takes far longer to play than board-game Monopoly , with one game lasting 24 hours.

Results and position are sent to players via e-mail at the conclusion of the game. The show was produced by Merv Griffin and hosted by Mike Reilly.

The show was paired with a summer-long Super Jeopardy! In addition, beginning with Season 2, teams won "Monopoly Party Packages" for winning the individual games.

For Season 3, there was a Community Chest. Each card on Mr. Monopoly had a combination of three colors.

Teams used the combination card to unlock the chest. If it was the right combination, they advanced to the Crazy Cash Machine for a brand-new car.

To honor the game's 80th anniversary, a game show in syndication on March 28, , called Monopoly Millionaires' Club was launched.

However, the lottery game connected with the game show which provided the contestants went through multiple complications and variations, and the game show last aired at the end of April In November , Ridley Scott was announced to direct Universal Pictures ' film version of the game, based on a script written by Pamela Pettler.

The film was being co-produced by Hasbro's Brian Goldner as part of a deal with Hasbro to develop movies based on the company's line of toys and games.

In July , Hasbro announced that Lionsgate will distribute a Monopoly film with Andrew Niccol writing the film as a family-friendly action adventure film [] co-financed and produced by Lionsgate and Hasbro's Allspark Pictures.

Hart is attached to star in the film and Tim Story is attached to direct. No logline or writer for this iteration of the long-gestating project has been announced.

The film played theatrically in the U. Until , U. The U. National Tournament had 50 contestants - 49 State Champions Oklahoma was not represented and the reigning national champion.

Qualifying for the National Championship has been online since For the Championship, qualification was limited to the first fifty people who correctly completed an online quiz.

The process was to have produced a field of 23 plus one: Matt McNally , the national champion, who received a bye and was not required to qualify.

However, at the end of the online tournament, there was an eleven-way tie for the last six spots. The decision was made to invite all of those who had tied for said spots.

In fact, two of those who had tied and would have otherwise been eliminated, Dale Crabtree of Indianapolis, Indiana, and Brandon Baker, of Tuscaloosa, Alabama, played in the final game and finished third and fourth respectively.

The Monopoly U. National Championship was held on April 14—15 in Washington, D. In his first tournament ever, Richard Marinaccio, an attorney from Sloan, New York a suburb of Buffalo , prevailed over a field that included two previous champions to be crowned the U.

National Champion. In , Hasbro used a competition that was held solely online to determine who would be the U.

Interested players took a twenty-question quiz on Monopoly strategy and rules and submitted a hundred-word essay on how to win a Monopoly tournament.

Hasbro then selected Brian Valentine of Washington, D. Hasbro conducts a worldwide Monopoly tournament. Because Monopoly evolved in the public domain before its commercialization, Monopoly has seen many variant games.

The game is licensed in countries and printed in thirty-seven languages. National boards have been released as well.

This world edition features top locations of the world. The locations were decided by votes over the Internet. The result of the voting was announced on August 20, Out of these, Gdynia is especially notable, as it is by far the smallest city of those featured and won the vote thanks to a spontaneous, large-scale mobilization of support started by its citizens.

There are three conditions that must be present for a company to engage in successful price discrimination. First, the company must have market power.

A company must have some degree of market power to practice price discrimination. Without market power a company cannot charge more than the market price.

A company wishing to practice price discrimination must be able to prevent middlemen or brokers from acquiring the consumer surplus for themselves.

The company accomplishes this by preventing or limiting resale. Many methods are used to prevent resale. For instance, persons are required to show photographic identification and a boarding pass before boarding an airplane.

Most travelers assume that this practice is strictly a matter of security. However, a primary purpose in requesting photographic identification is to confirm that the ticket purchaser is the person about to board the airplane and not someone who has repurchased the ticket from a discount buyer.

The inability to prevent resale is the largest obstacle to successful price discrimination. For example, universities require that students show identification before entering sporting events.

Governments may make it illegal to resale tickets or products. In Boston, Red Sox baseball tickets can only be resold legally to the team.

The three basic forms of price discrimination are first, second and third degree price discrimination. In first degree price discrimination the company charges the maximum price each customer is willing to pay.

The maximum price a consumer is willing to pay for a unit of the good is the reservation price. Thus for each unit the seller tries to set the price equal to the consumer's reservation price.

Sellers tend to rely on secondary information such as where a person lives postal codes ; for example, catalog retailers can use mail high-priced catalogs to high-income postal codes.

For example, an accountant who has prepared a consumer's tax return has information that can be used to charge customers based on an estimate of their ability to pay.

In second degree price discrimination or quantity discrimination customers are charged different prices based on how much they buy. There is a single price schedule for all consumers but the prices vary depending on the quantity of the good bought.

Companies know that consumer's willingness to buy decreases as more units are purchased [ citation needed ]. The task for the seller is to identify these price points and to reduce the price once one is reached in the hope that a reduced price will trigger additional purchases from the consumer.

For example, sell in unit blocks rather than individual units. In third degree price discrimination or multi-market price discrimination [54] the seller divides the consumers into different groups according to their willingness to pay as measured by their price elasticity of demand.

Each group of consumers effectively becomes a separate market with its own demand curve and marginal revenue curve. Airlines charge higher prices to business travelers than to vacation travelers.

The reasoning is that the demand curve for a vacation traveler is relatively elastic while the demand curve for a business traveler is relatively inelastic.

Any determinant of price elasticity of demand can be used to segment markets. For example, seniors have a more elastic demand for movies than do young adults because they generally have more free time.

Thus theaters will offer discount tickets to seniors. The monopolist acquires all the consumer surplus and eliminates practically all the deadweight loss because he is willing to sell to anyone who is willing to pay at least the marginal cost.

That is the monopolist behaving like a perfectly competitive company. Successful price discrimination requires that companies separate consumers according to their willingness to buy.

Determining a customer's willingness to buy a good is difficult. Asking consumers directly is fruitless: consumers don't know, and to the extent they do they are reluctant to share that information with marketers.

The two main methods for determining willingness to buy are observation of personal characteristics and consumer actions. As noted information about where a person lives postal codes , how the person dresses, what kind of car he or she drives, occupation, and income and spending patterns can be helpful in classifying.

Monopoly, besides, is a great enemy to good management. According to the standard model, in which a monopolist sets a single price for all consumers, the monopolist will sell a lesser quantity of goods at a higher price than would companies by perfect competition.

Because the monopolist ultimately forgoes transactions with consumers who value the product or service more than its price, monopoly pricing creates a deadweight loss referring to potential gains that went neither to the monopolist nor to consumers.

Given the presence of this deadweight loss, the combined surplus or wealth for the monopolist and consumers is necessarily less than the total surplus obtained by consumers by perfect competition.

Where efficiency is defined by the total gains from trade, the monopoly setting is less efficient than perfect competition.

It is often argued that monopolies tend to become less efficient and less innovative over time, becoming "complacent", because they do not have to be efficient or innovative to compete in the marketplace.

Sometimes this very loss of psychological efficiency can increase a potential competitor's value enough to overcome market entry barriers, or provide incentive for research and investment into new alternatives.

The theory of contestable markets argues that in some circumstances private monopolies are forced to behave as if there were competition because of the risk of losing their monopoly to new entrants.

This is likely to happen when a market's barriers to entry are low. It might also be because of the availability in the longer term of substitutes in other markets.

For example, a canal monopoly, while worth a great deal during the late 18th century United Kingdom , was worth much less during the late 19th century because of the introduction of railways as a substitute.

Contrary to common misconception , monopolists do not try to sell items for the highest possible price, nor do they try to maximize profit per unit, but rather they try to maximize total profit.

A natural monopoly is an organization that experiences increasing returns to scale over the relevant range of output and relatively high fixed costs.

The relevant range of product demand is where the average cost curve is below the demand curve.

An early market entrant that takes advantage of the cost structure and can expand rapidly can exclude smaller companies from entering and can drive or buy out other companies.

A natural monopoly suffers from the same inefficiencies as any other monopoly. Left to its own devices, a profit-seeking natural monopoly will produce where marginal revenue equals marginal costs.

Regulation of natural monopolies is problematic. The most frequently used methods dealing with natural monopolies are government regulations and public ownership.

Government regulation generally consists of regulatory commissions charged with the principal duty of setting prices.

To reduce prices and increase output, regulators often use average cost pricing. By average cost pricing, the price and quantity are determined by the intersection of the average cost curve and the demand curve.

Average-cost pricing is not perfect. Regulators must estimate average costs. Companies have a reduced incentive to lower costs.

Regulation of this type has not been limited to natural monopolies. By setting price equal to the intersection of the demand curve and the average total cost curve, the firm's output is allocatively inefficient as the price is less than the marginal cost which is the output quantity for a perfectly competitive and allocatively efficient market.

A government-granted monopoly also called a " de jure monopoly" is a form of coercive monopoly , in which a government grants exclusive privilege to a private individual or company to be the sole provider of a commodity.

Monopoly may be granted explicitly, as when potential competitors are excluded from the market by a specific law , or implicitly, such as when the requirements of an administrative regulation can only be fulfilled by a single market player, or through some other legal or procedural mechanism, such as patents , trademarks , and copyright.

A monopolist should shut down when price is less than average variable cost for every output level [70] — in other words where the demand curve is entirely below the average variable cost curve.

In an unregulated market, monopolies can potentially be ended by new competition, breakaway businesses, or consumers seeking alternatives.

In a regulated market, a government will often either regulate the monopoly, convert it into a publicly owned monopoly environment, or forcibly fragment it see Antitrust law and trust busting.

Public utilities , often being naturally efficient with only one operator and therefore less susceptible to efficient breakup, are often strongly regulated or publicly owned.

The law regulating dominance in the European Union is governed by Article of the Treaty on the Functioning of the European Union which aims at enhancing the consumer's welfare and also the efficiency of allocation of resources by protecting competition on the downstream market.

Competition law does not make merely having a monopoly illegal, but rather abusing the power a monopoly may confer, for instance through exclusionary practices i.

It may also be noted that it is illegal to try to obtain a monopoly, by practices of buying out the competition, or equal practices.

If one occurs naturally, such as a competitor going out of business, or lack of competition, it is not illegal until such time as the monopoly holder abuses the power.

First it is necessary to determine whether a company is dominant, or whether it behaves "to an appreciable extent independently of its competitors, customers and ultimately of its consumer".

Establishing dominance is a two-stage test. The first thing to consider is market definition which is one of the crucial factors of the test.

As the definition of the market is of a matter of interchangeability, if the goods or services are regarded as interchangeable then they are within the same product market.

It is necessary to define it because some goods can only be supplied within a narrow area due to technical, practical or legal reasons and this may help to indicate which undertakings impose a competitive constraint on the other undertakings in question.

Since some goods are too expensive to transport where it might not be economic to sell them to distant markets in relation to their value, therefore the cost of transporting is a crucial factor here.

Other factors might be legal controls which restricts an undertaking in a Member States from exporting goods or services to another.

Market definition may be difficult to measure but is important because if it is defined too broadly, the undertaking may be more likely to be found dominant and if it is defined too narrowly, the less likely that it will be found dominant.

As with collusive conduct, market shares are determined with reference to the particular market in which the company and product in question is sold.

It does not in itself determine whether an undertaking is dominant but work as an indicator of the states of the existing competition within the market.

It sums up the squares of the individual market shares of all of the competitors within the market. The lower the total, the less concentrated the market and the higher the total, the more concentrated the market.

By European Union law, very large market shares raise a presumption that a company is dominant, which may be rebuttable. The lowest yet market share of a company considered "dominant" in the EU was If a company has a dominant position, then there is a special responsibility not to allow its conduct to impair competition on the common market however these will all falls away if it is not dominant.

When considering whether an undertaking is dominant, it involves a combination of factors. Each of them cannot be taken separately as if they are, they will not be as determinative as they are when they are combined together.

According to the Guidance, there are three more issues that must be examined. They are actual competitors that relates to the market position of the dominant undertaking and its competitors, potential competitors that concerns the expansion and entry and lastly the countervailing buyer power.

Market share may be a valuable source of information regarding the market structure and the market position when it comes to accessing it.

The dynamics of the market and the extent to which the goods and services differentiated are relevant in this area.

It concerns with the competition that would come from other undertakings which are not yet operating in the market but will enter it in the future.

So, market shares may not be useful in accessing the competitive pressure that is exerted on an undertaking in this area. The potential entry by new firms and expansions by an undertaking must be taken into account, [81] therefore the barriers to entry and barriers to expansion is an important factor here.

Competitive constraints may not always come from actual or potential competitors. Sometimes, it may also come from powerful customers who have sufficient bargaining strength which come from its size or its commercial significance for a dominant firm.

There are three main types of abuses which are exploitative abuse, exclusionary abuse and single market abuse. It arises when a monopolist has such significant market power that it can restrict its output while increasing the price above the competitive level without losing customers.

This is most concerned about by the Commissions because it is capable of causing long- term consumer damage and is more likely to prevent the development of competition.

It arises when a dominant undertaking carrying out excess pricing which would not only have an exploitative effect but also prevent parallel imports and limits intra- brand competition.

Despite wide agreement that the above constitute abusive practices, there is some debate about whether there needs to be a causal connection between the dominant position of a company and its actual abusive conduct.

Furthermore, there has been some consideration of what happens when a company merely attempts to abuse its dominant position.

To provide a more specific example, economic and philosophical scholar Adam Smith cites that trade to the East India Company has, for the most part, been subjected to an exclusive company such as that of the English or Dutch.

Monopolies such as these are generally established against the nation in which they arose out of. The profound economist goes on to state how there are two types of monopolies.

The first type of monopoly is one which tends to always attract to the particular trade where the monopoly was conceived, a greater proportion of the stock of the society than what would go to that trade originally.

The second type of monopoly tends to occasionally attract stock towards the particular trade where it was conceived, and sometimes repel it from that trade depending on varying circumstances.

Rich countries tended to repel while poorer countries were attracted to this. For example, The Dutch company would dispose of any excess goods not taken to the market in order to preserve their monopoly while the English sold more goods for better prices.

Both of these tendencies were extremely destructive as can be seen in Adam Smith's writings. The term "monopoly" first appears in Aristotle 's Politics.

Vending of common salt sodium chloride was historically a natural monopoly. Until recently, a combination of strong sunshine and low humidity or an extension of peat marshes was necessary for producing salt from the sea, the most plentiful source.

Changing sea levels periodically caused salt " famines " and communities were forced to depend upon those who controlled the scarce inland mines and salt springs, which were often in hostile areas e.

The Salt Commission was a legal monopoly in China. Formed in , the Commission controlled salt production and sales in order to raise tax revenue for the Tang Dynasty.

The " Gabelle " was a notoriously high tax levied upon salt in the Kingdom of France. The much-hated levy had a role in the beginning of the French Revolution , when strict legal controls specified who was allowed to sell and distribute salt.

First instituted in , the Gabelle was not permanently abolished until Robin Gollan argues in The Coalminers of New South Wales that anti-competitive practices developed in the coal industry of Australia's Newcastle as a result of the business cycle.

The monopoly was generated by formal meetings of the local management of coal companies agreeing to fix a minimum price for sale at dock.

This collusion was known as "The Vend". The Vend ended and was reformed repeatedly during the late 19th century, ending by recession in the business cycle.

During the early 20th century, as a result of comparable monopolistic practices in the Australian coastal shipping business, the Vend developed as an informal and illegal collusion between the steamship owners and the coal industry, eventually resulting in the High Court case Adelaide Steamship Co.

Ltd v. Standard Oil was an American oil producing, transporting, refining, and marketing company. Established in , it became the largest oil refiner in the world.

Rockefeller was a founder, chairman and major shareholder. The company was an innovator in the development of the business trust.

The Standard Oil trust streamlined production and logistics, lowered costs, and undercut competitors.

Its controversial history as one of the world's first and largest multinational corporations ended in , when the United States Supreme Court ruled that Standard was an illegal monopoly.

The Standard Oil trust was dissolved into 33 smaller companies; two of its surviving "child" companies are ExxonMobil and the Chevron Corporation.

Steel has been accused of being a monopoly. Morgan and Elbert H. Gary founded U. Steel was the largest steel producer and largest corporation in the world.

In its first full year of operation, U. Steel made 67 percent of all the steel produced in the United States. However, U.

Steel's share of the expanding market slipped to 50 percent by , [93] and antitrust prosecution that year failed. De Beers settled charges of price fixing in the diamond trade in the s.

De Beers is well known for its monopoloid practices throughout the 20th century, whereby it used its dominant position to manipulate the international diamond market.

The company used several methods to exercise this control over the market. Firstly, it convinced independent producers to join its single channel monopoly, it flooded the market with diamonds similar to those of producers who refused to join the cartel, and lastly, it purchased and stockpiled diamonds produced by other manufacturers in order to control prices through limiting supply.

In , the De Beers business model changed due to factors such as the decision by producers in Russia, Canada and Australia to distribute diamonds outside the De Beers channel, as well as rising awareness of blood diamonds that forced De Beers to "avoid the risk of bad publicity" by limiting sales to its own mined products.

A public utility or simply "utility" is an organization or company that maintains the infrastructure for a public service or provides a set of services for public consumption.

Common examples of utilities are electricity , natural gas , water , sewage , cable television , and telephone.

In the United States, public utilities are often natural monopolies because the infrastructure required to produce and deliver a product such as electricity or water is very expensive to build and maintain.

Western Union was criticized as a " price gouging " monopoly in the late 19th century. In the case of Telecom New Zealand , local loop unbundling was enforced by central government.

Telkom is a semi-privatised, part state-owned South African telecommunications company. Deutsche Telekom is a former state monopoly, still partially state owned.

The Comcast Corporation is the largest mass media and communications company in the world by revenue.

Comcast has a monopoly in Boston , Philadelphia , and many other small towns across the US. The United Aircraft and Transport Corporation was an aircraft manufacturer holding company that was forced to divest itself of airlines in In the s, LIRR became the sole railroad in that area through a series of acquisitions and consolidations.

In , the LIRR's commuter rail system is the busiest commuter railroad in North America, serving nearly , passengers daily.

Dutch East India Company was created as a legal trading monopoly in The Vereenigde Oost-Indische Compagnie enjoyed huge profits from its spice monopoly through most of the 17th century.

The British East India Company was created as a legal trading monopoly in The Company traded in basic commodities, which included cotton , silk , indigo dye , salt , saltpetre , tea and opium.

Major League Baseball survived U. The National Football League survived antitrust lawsuit in the s but was convicted of being an illegal monopoly in the s.

According to professor Milton Friedman , laws against monopolies cause more harm than good, but unnecessary monopolies should be countered by removing tariffs and other regulation that upholds monopolies.

A monopoly can seldom be established within a country without overt and covert government assistance in the form of a tariff or some other device.

It is close to impossible to do so on a world scale. The De Beers diamond monopoly is the only one we know of that appears to have succeeded and even De Beers are protected by various laws against so called "illicit" diamond trade.

However, professor Steve H. Hanke believes that although private monopolies are more efficient than public ones, often by a factor of two, sometimes private natural monopolies, such as local water distribution, should be regulated not prohibited by, e.

Thomas DiLorenzo asserts, however, that during the early days of utility companies where there was little regulation, there were no natural monopolies and there was competition.

Baten , Bianchi and Moser [] find historical evidence that monopolies which are protected by patent laws may have adverse effects on the creation of innovation in an economy.

They argue that under certain circumstances, compulsory licensing — which allows governments to license patents without the consent of patent-owners — may be effective in promoting invention by increasing the threat of competition in fields with low pre-existing levels of competition.

From Wikipedia, the free encyclopedia. This article is about the economic term. For the board game, see Monopoly game. For other uses, see Monopoly disambiguation.

Market structure with a single firm dominating the market. The price of monopoly is upon every occasion the highest which can be got.

The natural price , or the price of free competition , on the contrary, is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together.

The one is upon every occasion the highest which can be squeezed out of the buyers, or which it is supposed they will consent to give; the other is the lowest which the sellers can commonly afford to take, and at the same time continue their business.

Main article: Natural monopoly. Main article: Government-granted monopoly. This section does not cite any sources. Please help improve this section by adding citations to reliable sources.

Unsourced material may be challenged and removed. June Learn how and when to remove this template message. Main article: Competition law.

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Monopoly Wikipedia Doch wie und wo fing eigentlich alles an? Dezember den am Du kannst dich nicht ins Gefängnis teleportieren. Die Ash-Karten sind Ereigniskarten. Deswegen wurde das Spiel am Für die sog. Andere Miterfinder von Monopoly meldeten sich und Parker musste click alle auszahlen. In das Gefängnis muss. Eine Zuordnung zu verschiedenen Arenen und ihren Leitern findet allerdings nicht mehr statt. Monopoly - Monopoly Classic (Deutsche Version) bei curlyque.co | Günstiger Preis | Kostenloser Versand ab 29€ für ausgewählte Artikel. Pokémon Monopoly ist eine Pokémon-Variante des bekannten Brettspiels Monopoly Wikipedia curlyque.co, die im Jahr von Parker Brothers. curlyque.co J. DiLorenzo:»The Myth of Natural Monopoly«: curlyque.co ins Gefängnis / als ich das letzte Mal Monopoly spielte«(englisches Original:»I Mcgee Geri. Bei der heute allein bekannten Variante bleibt ein Monopolist übrig, dem als Gewinner alles gehört, während bei der damaligen zweiten Alternative ohne Bodenspekulation die meisten Mitspieler im Spielverlauf immer wohlhabender source siehe auch Freiwirtschaft. Der derzeitige Markeninhaber Parker Brothers Monopoly Wikipedia. Manche der Figuren sind aus Zinn gefertigt, andere bestehen aus Plastik. Das Ziel des Spieles ist es, Hammertime.Be Einzelner am evtl. Besitzt der Eigentümer das Wasser- und das Elektrizitätswerk, link ist die Miete mal so apologise, Deepstack seems wie die Summe der Augen auf beiden Würfeln. Die folgende Januari zeigt alle Professor-Karten mit leicht abgeändertem Wortlaut. In das Spiel, das im September auf den Markt kam, wurden die bestplatzierten 22 Städte aufgenommen. Du darfst allerdings nicht um eine Arena-Karte spielen, wenn dein Mitspieler bereits alle Arenen dieser Farbe gesammelt hat. Es gibt neben den vielen Länderausgaben auch unzählige Spezialeditionen, etwa eine aus Schokolade oder auch eine Luxusvariante mit Häusern aus Gold für ca. Mewtu-Teleport Begib dich auf irgendein anderes Feld deiner Wahl.

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