@cshentrup @jwmason read the piece! whole industries, like railroads then, airlines now, pervasively have this characteristic, in practice as well as in theory. we invented "intellectual property" to address this problem, but then no market can tell us whether restrictions are too strong or too weak. high fixed costs / low marginal costs (all the above) are just one example of where market power is in some sense necessary. market power can also arise where, you might imagine, it should not be.