Pomona College
Economics
150, Fall 2014
Industrial
Organization
Professor
James D. Likens
Class: MW 1:15-2:30 p.m., Carnegie 107
Contact: 909 621-8998 (Office); 909 268-8806 (Cell); jlikens@pomona.edu (email)
Office Location Hahn 108
Office Hours: , MW 11:00 - 12:15 p.m.; and by
arrangement.
Text
Dennis W. Carlton and Jeffrey M. Perloff, Modern Industrial Organization,
fourth edition (Reading, Mass.: Addison-Wesley, 2005). This book has a splendid
bibliography on pages 737-779. I have also provided my own extensive set of
Reference Materials at the end of this file, which you may use for for deeper analysis and developing term paper topics.
Four Midterms: 20% each
Term Paper: 20%
Course Outline
I. Introduction and Basic Theory
Chapter 1. Overview
Chapter 2. The Firm and Costs
II. Market Structures
Chapter 3. Competition
Chapter 4. Monopolies, Monopsonies, and Dominant Firms
Chapter 5. Cartels
Chapter 6: Oligopoly
Chapter 7: Product Differentiation and Monopolistic Competition
Chapter 8: Industry Structure and Performance
III. Business Practices: Strategies and Conduct
Chapter 9. Price Discrimination
Chapter 10. Advanced Topics in Pricing
Chapter 11. Strategic Behavior
Chapter 12. Vertical Integration and Vertical Restrictions
IV. Information, Advertising. and Disclosure
Chapter 13. Information
Chapter 14. Advertising and Disclosure
V. Dynamic Models and Market Clearing
Chapter 15. Decision Making Over Time: Durability
Chapter 16. Patents and Technical Change
Chapter 17. How Markets Clear: Theory and Facts
VII. Antitrust Law and Policy
Chapter 19. Antitrust Laws and
Policy
Chapter 20. Regulation and Deregulation
General Reference: Textbooks
Peter Asch, Industrial Organization and Antitrust Policy, revised edition (New York: John Wiley and Sons, 1983).
Joe S. Bain, Industrial Organization, second edition (New York: Wiley and Sons, 1968).
William L. Baldwin, Market Power, Competition, and Antitrust Policy (Homewood, Illinois: Irwin, 1987).
Jeffrey Church and Roger Ware, Industrial Organization: A Strategic Approach (Boston: Irwin McGraw-Hill, 2000).
Roger Clarke, Industrial Economics (Oxford: Basil Blackwell Ltd., 1985).
Roger Clarke and Tony McGuinness, The Economics of the Firm (Oxford: Basil Blackwell Ltd., 1987). [Paper.]
P. J. Devine, R. M. Jones, N. Lee, and W. J. Tyson, An Introduction to Industrial Economics, revised second edition (London: George Allen and Unwin Ltd., 1976).
Christopher Freeman, The Economics of Industrial Innovation (Cambridge, Mass.: MIT Press, 1986).
Kenneth D. George and Caroline Joll, Industrial Organization: Competiton, Growth and Structural Change, third edition (London: George Allen & Unwin, 1981).
Douglas F. Greer, Industrial Organization and Public Policy (New York: Macmillan, 1980).
Donald A. Hay and Derek J. Morris, Industrial Economics: Theory and Evidence (Oxford: Oxford University Press, 1979.
Elhanan Helpman and Paul R. Krugman, Market
Structure and Foreign Trade: Increasing Returns, Imperfect Competition, and the
International Economy (Cambridge,
Mass.: MIT Press, 1985).
Elhanan Helpman and Paul R. Krugman, Trade Policy and Market Structure (Cambridge, Mass.: MIT Press, 1989).
Alexis P. Jacquemin and Henry W. de Jong, European Industrial Organisation (New York: John Wiley, 1977).
Morton I. Kamien and Nancy L. Schwartz, Market Structure and Innovation (Cambridge: Cambridge University Press, 1982).
Clement G. Krouse, Theory of Industrial Economics (Oxford: Basil Blackwell, 1990).
James G. March, Decisions and Organizations (Oxford: Basil Blackwell, 1988).
Douglas Needham, The Economics of Industrial Structure, Conduct and Performance (New York: St. Martins Press, 1978).
Lynne Pepall, Daniel J. Richards and George Norman, Industrial Organization: Contemporary Theory and Practice (Cincinnati: South-Western, 1998).
Gavin Reid, Theories of Industrial Organization (Oxford: Basil Blackwell Ltd., 1987).
W. Duncan Reekie, Industrial Economics: A Critical Introduction to Corporate Enterprise in Europe and America (Hants, England: Edward Elgar Publishing Ltd., 1989).
Gerhard Rosegger, The Economics of Production and Innovation: An Industrial Perspective, second edition (Oxford: Pergamon Press, 1986).
F.M. Scherer and David Ross, Industrial Market Structure and Economic Performance, third edition (Boston: Houghton Mifflin, 1990).
William G. Shepherd, The Economics of Industrial Organization, third edition (Englewood Cliffs, N.J.: Prentice Hall, 1990).
William F. Shughart II, The Organization of Industry (Homewood, Illinois: Richard D. Irwin, Inc., 1990).
Daniel F. Spulber, Regulation and Markets (Cambridge, Mass.: MIT Press, 1989).
C.F. Sutton, Economics and Corporate Strategy (Cambridge University Press, 1980).
W. Kip Viscusi, John M. Vernon, and Joseph E. Harrington, Jr., Economics of Regulation and Antitrust (Lexington, Mass.: D.C. Heath and Company, 1992).
Don E. Waldman and Elizabeth J. Jensen, Industrial Organization: Theory and Practice (Reading, Mass.: Addison-Wesley, 1998).
Michael Waterson, Economic Theory of the Industry
(Cambridge: Cambridge University Press, 1984).
General Reference: Advanced Works
lan J. Auerbach, editor, Mergers and Acquisitions, National Bureau of Economic Research (Chicago: University of Chicago Press, 1988).
R. Axelrod, The Evolution of Cooperation (New York: Basic Books, 1984).
William L. Baldwin and John T. Scott, Market Structure and Technological Change (Chur: Harwood Academic Publishers, 1987).
Kaushik Basu, Lectures in Industrial Organization (Oxford: Blackwell, 1993).
W.J. Baumol, J.C. Panzar, and R.D. Willig, Contestable Markets and the Theory of Industry Structure (New York: Harcourt Brace Jovanovich, 1982).
John Cable, editor, Current Issues in Industrial Organization (New York: St. Martin’s Press, 1994).
John S. Cubbin, Market Structure and Performance--The Empirical Research (Chur: Harwood Academic Publishers, 1988).
H.W. de Jong and W.G. Shepherd, editors, Mainstreams in Industrial Organization, Book I (Dordrecht: Kluwer, 1986).
Christopher Freeman, The Economics of Industrial Innovation, second edition (Cambridge, Mass.: MIT Press, 1982).
James W. Friedman, Game Theory with Applications to Economics (Oxford: Oxford University Press, 1986).
James W. Friedman, Oligopoly Theory (Cambridge University Press, 1983).
Melvin L. Greenhut, George Norman, and Chao-Shun Hung, The Economics of Imperfect Competition (Cambridge: Cambridge University Press, 1987).
Zvi Griliches, editor, R&D, Patents, and Productivity, National Bureau of Economic Research Conference Report (Chicago: Univesity of Chicago Press, 1984).
Norman J. Ireland, Product Differentiation and Non-Price Competition (Oxford: Basil Blackwood Ltd., 1987).
Alexis Jacquemin, The New Industrial Organization : Market Forces and Strategic Behavior (Cambridge, Mass.: MIT Press, 1987).
Erich Kaufer, The Economics of the Patent System (Chur: Harwood Academic Publishers, 1989).
J.J. Lambin, Advertising, Competition and Market Conduct in Oligopoly Over Time (Amsterdam: North-Holland, 1976).
Albert N. Link, Technological Change and Productivity Growth (Chur: Harwood Academic Publishers, 1987).
James G. March, Decisions and Organizations (Oxford: Basil Blackwell Ltd., 1988).
Stephen Martin, Advanced Industrial Organization (Oxford: Blackwell, 1993).
G.F. Mathewson and J.E. Stiglitz, New Developments in the Analysis of Market Structure (Cambridge, Mass.: MIT Press, 1986).
D.J. Morris, P.J.N. Sinclair, M.D.E. Slater, and J.S. Vickers, editors, Strategic Behavior and Industrial Competition (Oxford: Oxford University Press, 1986).
Dennis C. Mueller, The Corporation: Growth, Diversification and Mergers (Chur: Harwood Academic Publishers, 1987).
Dennis C. Mueller, editor, The Dynamics of Company Profits (Cambridge, Mass.: MIT Press, 1990).
R.R. Nelson and S.G. Winter, An Evolutionary Theory of Economic Change (Cambridge, Mass.: Harvard University Press, 1982).
Michael E. Porter, Interbrand Choice, Strategy, and Bilateral Market Power (Cambridge, Mass.: Harvard University Press, 1976).
Michael E. Porter, Competitive Strategy (New York: Free Press, 1980).
David J. Ravenscraft and F.M. Scherer, Mergers, Sell-Offs, and Economic Efficiency (Washington, D.C.: Brookings Institution, 1987).
Richard Schmalensee and Robert D. Willig, Handbook of Industrial Organization (Amsterdam: North-Holland, 1989).
F.M. Scherer, A. Beckstein, E. Kaufer, and R.D. Murphy, The Economics of Multi-Plant Operation (Cambridge, Mass.: Harvard University Press, 1975).
A. Michael Spence, Market Signaling (Cambridge, Mass.: Harvard University Press, 1974).
P. Stoneman, The Economic Analysis of Technological Change (Oxford: Oxford University Press, 1983).
Jean Tirole, The Theory of Industrial Organization (Cambridge, Mass.: MIT Press, 1988).
J. Vickers and G. Yarrow, Privatization: An Economic Analysis (Cambridge, Mass.: MIT Press, 1988).
Oliver Williamson, Markets and Hierarchies (New York: The Free Press, 1975).
Oliver Williamson, The Economic Institutions of Capitalism (New York: The Free Press, 1985).
Oliver Williamson, Antitrust Economics (Oxford: Basil Blackwell, 1987).
Topical Bibliography
I. INTRODUCTION
A. What Industrial Organization Is All About
Dennis W. Carlton and Jeffrey M. Perloff, "Overview," Chapter 1, Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
F.M. Scherer and David Ross, "Introduction," Chapter 1, Industrial Market Structure and Economic Performance (Boston: Houghton Mifflin, 1990).
Almarin Phillips and Rodney E. Stevenson, "The Historical Development of Industrial Organization History of Political Economy, Vol. 6, No. 3 (Fall 1974), pp. 324-342.
Richard Schmalensee, "Industrial Economics: An Overview," Economic Journal Vol. 98, No. 392 (September 1988), pp. 643-81.
B. The Goods and Bads of Monopoly: Efficiency; Equity; Progress
F.M. Scherer and David Ross, "The Welfare Economics
of Competition and Monopoly," Chapter 2, Market Structure and Economics
Performance (Boston: Houghton Mifflin,
1990).
John Vickers and Donald Hay, "The Economics of Market Dominance," in Donald Hay and John Vickers, editors, The Economics of Market Dominance (Oxford: Basil Blackwell, 1987), Chap. 1, pp. 1-60.
Abram Bergson, "On Monopoly Welfare Losses," American Economic Review,
Vol. 63, No. 5 (December 1973), pp. 853-70.
Keith Cowling and Dennis C. Mueller, "The Social Costs of Monopoly," Economic Journal, Vol. 88, No. 352 (December 1978), pp. 727-48.
Harvey Leibenstein, "Allocative Efficiency vs. X-efficiency," American Economic Review, Vol. 56 (1966), pp. 392-415.
William S. Comanor and Harvey Leibenstein, "Allocative Efficiency, X-Efficiency, and the Measurement of Welfare Losses," Economica, Vol. 36 (1969), pp. 304-9.
Richard Posner, "The Social Costs of Monopoly and Regulation," Journal of Political Economy, Vol. 83, No. 4 (August 1975), pp. 807-27.
Franklin M. Fisher, "The Social Costs of Monopoly and Regulation: Posner Reconsidered," Journal of Political Economy, Vol. 93, No. 2 (April 1985), pp. 410-16.
Abba P. Lerner, The Economics of Control (New York: Macmillan, 1944).
Joseph Schumpeter, Capitalism, Socialism and Democracy (New York: Harper & Row, 1975).
John Kenneth Galbraith, American Capitalism (Boston: Houghton Mifflin, 1952).
Kenneth Arrow, "Economic Welfare and the Allocation of Research for Invention," in Richard Nelson, editor, The Rate and Direction of Inventive Activity: Economic and Social Factors (Princeton: Princeton University Press, 1961).
II. MARKET STRUCTURE
A. Defining Industries
Executive Office of the President: Office of Management and Budget, Standard Industrial Classification Manual, 1972 (Washington, D.C.: Superintendent of Documents, U.S. Government Printing Office, 1972).
Maxwell R. Conklin and Harold T. Goldstein, "Census Principles of Industry and Product," Business Concentration and Price Policy (Princeton: Princeton University Press, 1955), pp. 15-56.
B. Concentration
F.M. Scherer and David Ross, "Industry Structure," Chapter 3, Market Structure and Economics Performance (Boston: Houghton Mifflin, 1990).
Abba P. Lerner, "The Concept of Monopoly and the Measurement of Monopoly Power," Review of Economics and Statistics, Vol. 1 (1934), pp. 157-75.
M.A. Adelman, "The Measurement of Industrial Concentration," Review of Economics and Statistics, Vol. XXXIII (1951), pp. 269-96.
Gideon Rosenbluth, "Measures of Concentration," in National Bureau of Economic Research, Business Concentration and Price Policy (Princeton University Press, 1955), 57-100.
H.A. Simon and C.P. Bonini, "The Size Distribution of Business Firms," American Economic Review, Vol. 48 (1958), pp. 607-17.
M.A. Adelman, "Comments on the H Concentration Measure As A Number Equivalent," Review of Economics and Statistics, Vol. 51, No. 1 (February, 1969), pp. 99-101.
T. R. Saving, "Concentration Ratios and the Degree of Monopoly," International Economic Review, Vol. 11 (February 1970), pp. 139-46.
J. C. Hause, "The Measurement of Concentrated Industrial Structure and the Size Distribution of Firms," Annals of Economic and Social Measurement, Vol. 6 (Winter 1977), pp. 73-107.
D. Encaoua and A. Jacquemin, "Degree of Monopoly, Indices of Concentration, and Market Power: Two Views," Journal of Industrial Economics, Vol. 33 (1985), pp. 419-34.
R. Clarke and S. Davies, "Aggregate Concentration, Market Concentration, and Diversification," Economic Journal, Vol 93, No. 369 (March 1983), pp. 182-92.
B. Curry and K. George, "Industrial Concentration: A Survey," Journal of Industrial Economics, Vol. 31, No. 3 (1983), pp. 203-55.
Robert S. Pindyck, "The Measurement of Monopoly Power in Dynamic Markets," Journal of Law & Economics, Vol. XXVIII, No. 1 (April 1985), pp. 193-222.
John C. Panzar, "Technological Determinants of Firm and Industry Structure," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 3-60..
C. Determinants of Concentration
F.M. Scherer and David Ross, "The Determinants of Market Structure," Chapter 4, Industrial Market Structure and Economic Performance (Boston: Houghton Mifflin, 1990).
Michael Waterson, "The Determinants of Industry Concentration," in Economic Theory of the Industry (Cambridge: Cambridge University Press, 1984), Chap. 9, pp. 166-188.
F. M. Scherer, "Economies of Scale and Industrial Concentration," and John S. McGee, "Efficiency and Economies of Size," in Harvey J. Goldschmid, H. Michael Mann, J. Fred Weston, editors, Industrial Concentration: The New Learning, Columbia University Center for Law and Economic Studies (Boston: Little, Brown, and Co., 1974).
Edwin Mansfield, "Entry, Gibrat’s Law, Innovation and the Growth of Firms," American Economic Review, Vol. 52, 1962, pp. 1023-51.
Patrick McCloughan, "Simulation of Concentration Development from Modified Gibrat Growth-Entry-Exit Processes," Journal of Industrial Economics, Vol. XLIII, No. 4 (December 1995), pp. 405-434.
B. Curry and K.D. George, "Industrial Concentration: A Survey," Journal of Industrial Economics, Vol. 31 (1983), pp;. 2-3-55.
Leonard W. Weiss, "Factors in Changing Concentration," Review of Economics and Statistics, Vol. 45 (1963), pp. 70-7.
Stanley J. Feldman, David McClain and Karen Palmer, "Sources of Structural Change in the United States, 1963-78: An Input-Output Perspective," Review of Economics and Statistics, Vol. LXIX, No. 3 (August 1987), pp. 503-510.
David Levy, "Specifying the Dynamics of Industry Concentration," Journal of Industrial Economics, Vol. XXIV, No. 1 (September 1985), pp. 55-68.
C. F. Pratten, Economies of Scale in Manufacturing Industry (Cambridge: Cambridge University Press, 1971).
F. M. Scherer, Alan Beckenstein, Erich Kaufer, and R.D. Murphy, The Economics of Multi-Plant Operation: An International Comparisons Study (Cambridge, Mass.: Harvard University Press, 1975.
Bela Gold, "On Size, Scale, and Returns: A Survey," Journal of Economic Literature, Vol. XIX, No. 1 (March 1981), pp. 5-33.
John S. McGee, "Economies of Size in Auto Body Manufacture," Journal of Law & Economics, Vol. 16, No. 2 (October 1973), pp. 248-53.
David R. Ross, "Learning to Dominate," Journal of Industrial Economics, Vol. XXXIV, No. 4 (June 1986), pp. 337-54.
F.M. Scherer, "Economies of Scale and Industrial Concentration,;" John S. McGee, "Efficiency and Economies of Scale;" in Harvey J. Goldschmid et al., Industrial Concentration: The New Learning (Boston: Little, Brown and Company, 1974), pp. 15-113.
Richard J. Gilber, editor, "Symposium on Compatability," six papers on technological compatibility of products and networks, Journal of Industrial Economics Vol. XL, No. 1 (March 1992).
D. Product Differentiation
Edward H. Chamberlain, The Theory of Monopolistic Competition eighth edition (Cambridge: Harvard University Press, 1965).
Kelvin Lancaster, "A New Approach to Consumer Theory," Journal of Political Economy, Vol. 74, No. 2 (April 1966), pp. 132-57.
Kelvin Lancaster, "Socially Optimal Product Differentiation," American Economic Review, Vol. 65, pp. 567-85.
Kelvin Lancaster, Variety, Equity, and Efficiency: Product Variety in an Industrial Society (New York: Columbia University Press, 1979).
Michael Spence, "Product Differentiation and Welfare," American Economic Review, Vol. 66 (1976), pp. 407-14.
A. Dixit and J. Stiglitz, "Monopolistic Competition and Optimum Product Diversity," American Economic Review, Vol. 67, No. 3 (1977), pp. 297-308.
David Besanko, Martin K. Perry and Richard H. Spady, "The Logit Model of Monopolistic Competition: Brand Diversity," Journal of Industrial Economics, Vol. 38, No. 4 (June 1990), pp. 397-416.
Larry E. Jones, "Optimum Product Diversity and the Incentives for Entry in Natural Oligopolies," Quarterly Journal of Economics, Vol. CII, No. 3 (August 1987), pp. 595-614.
David De Meza, "Package Size and the Suppression of Variety," International Journal of Industrial Organization, Vol. 6, No. 3 (September 1988), pp. 363-72.
J. Beath and Y. Katsoulacos, The Economic Theory of Product Differentiation (Cambridge, UK: Cambridge University Press, 1991).
Joseph E. Stiglitz, "The Causes and Consequences of the Dependence of Quality on Price," Journal of Economic Literature, Vol. XXV, No. 1 (March 1987), pp. 1-48.
Tibor Scitovsky, "Some Consequences of the Habit of Judging Quality by Price," Review of Economics and Statistics (1944).
David Besanko, Shabtai Donnenfeld, and Lawrence J. White, "Monopoly and
Quality Distortion: Effects and Remedies," Quarterly Journal of Economics,
Vol. CII, No.4 (November
1987), pp. 743-768.
Richard Schmalaensee, "Advertising and Market Structure," in Joseph E. Stiglitz and G. Frank Mathewson, editors, New Developments in the Analysis of Market Structure (Cambridge: MIT Press, 1986), 373-98.
Richard E. Caves and Peter J. Williamson, "What is Product Differentiation, Really?" Journal of Industrial Economics, Vol. XXXIV, No. 2 (December 1985), pp. 113-132.
Norman J. Ireland, Product Differentiation and Non-Price Competition (Oxford: Basil Blackwell Ltd., 1987).
Paul Klemperer, "Equilibrium Product Lines: Competing Head-to-Head May be Less Competitive," American Economic Review, Vol. 82, No. 4 (September 1992), pp. 740-55.
Peter Diamond, "A Model of Price Adjustment," Journal of Economic Theory (June 1971), pp. 158-68.
Douglas D. Davis and Charles A. Holt, "Consumer Search Costs and Market Performance," Economic Inquiry, Vol. 34, No. 1 (January 1996), pp. 133-151.
B. Curtis Eaton, "Product Differentiation," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 725-68.
E. Entry and Exit Conditions
Joe Bain, Barriers to New Competition (Cambridge, Mass.: Harvard University Press, 1956).
Michael Waterson, "A Consideration of the Effects of Potential Entry," Economic Theory of the Industry (Cambridge: Cambridge University Press, 1984), Chapter 4, pp. 56-81.
A.K. Dixit, "The Role of Investment in Entry-Deterrence," Economic Journal, Vol. 90, No. 357 (March 1980), pp. 95-106.
Joseph Stiglitz, "Technological Change, Sunk Costs, and Competition," Brookings Papers on Economic Activity 1987:3, pp. 883-947.
John Sutton, Sunk Costs and Market Structure: Price Competition, Advertising, and the Evolution of Concentration (Cambridge: MIT Press, 1991).
Richard Schmalansee, Sunk Costs and Market Structure: A Review Article," Journal of Industrial Economics, Vol. XL, No. 2 (June 1992), pp. 125-34.
P. Aghion and P. Bolton, "Contracts as a Barrier to Entry," American Economic Review (Vol. 77, No. 3 (June 1987), pp. 388-401.
Timothy F. Bresnahan and Peter C. Reiss, "Do Entry Conditions Vary across Markets," Brookings Papers on Economic Activity 1987:3, pp-833-82.
Timothy Dunne, Mark J. Roberts, and Larry Samuelson, "Patterns of Firm Entry and Exit in U.S. Manufacturing Industries," Rand Journal of Economics, Vol. 19, No. 4 (Winter 1988), pp. 495-515.
William J. Baumol, J.C. Panzar, and R. D. Willig, Contestable Markets and the Theory of Industry Structure (Harcourt, Brace, Jovanovitch, San Diego, 1982).
William Baumol, "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, Vol. 72, No. 1 (March 1982), pp. 1-15.
Don Coursey, R. Mark Isaac, and Vernon L. Smith, "Natural Monopoly and Contested Markets: Some Experimental Results," Journal of Law & Economics, Vol. XXVII, No. 1 (April 1984), pp. 91-114.
Michael Spence, "Reviewing Contestable Markets and the Theory of Industry Structure," Journal of Economic Literature, Vol. XXI, No. 3 (September 1983), pp. 981-1036.
P. A. Geroski, "Do Dominant Firms Decline?" in Donald Hay and John Vickers, editors, The Economics of Market Dominance (Oxford: Basil Blackwell, 1987), Chap. 6, pp.143-167.
Richard J. Gilbert, "The Role of Potential Competition in Industrial Organization," Journal of Economic Perspectives, Vol. 3, No. 3 (Summer 1989), pp. 107-27. See also Andrew R. Dick and John R. Lott, Jr., "Comment on The Role of Potential Competition in Industrial Organization by Richard Gilbert," Journal of Economic Perspectives, Vol. 4, No. 2 (Spring 1990), pp. 213-15.
John Sutton, Sunk Costs and Market Structure: Price Competiton, Advertising, and the Evolution of Concentration (Cambridge, Mass.: MIT Press, 1991).
Richard Schmalensee, "Sunk Costs and Market Structure: A Review Article," Journal of Industrial Economics, Vol. XL, No. 2 (June 1992), pp. 125-34.
F. Vertical Integration
Roger Clarke, "Vertical Integration," Chapter 8, Industrial Economics (Oxford: Basil Blackwell, 1985), pp. 172-95.
Roger D. Blair and David L. Kaserman, Law and Economics of Vertical Integration and Control (Orlando, Fl.: Academic Press, 1983).
Richard Schmalansee, "A Note on the Theory of Vertical Integration," Journal of Political Economy, Vol. 81 (April 1973), pp. 442-49.
George Hay, "An Economic Analysis of Vertical Integration," Industrial Organization Review, Vol. 1 (1973), pp. 188-98
Kenneth Arrow, "Vertical Integration and Communication," Bell Journal of Economics, Vol. 6 (Spring 1975), pp. 173-83.
Mark McBride, "Spatial Competition and Vertical Integration," American Economic Review, Vol. 73 (December 1983), pp. 1011-22.
Michael Waterson, "Monopoly Power in Vertically Related Markets," in Economic Theory of the Industry (Cambridge: Cambridge University Press, 1984), Chap. 5, pp. 82-106.
Sanford J. Grossman and Oliver D. Hart, "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, Vol. 94, No 4 (August 1986), pp. 691-719.
Hal R. Varian et alia., "Symposium on Takeovers," Journal of Economic Perspectives, Vol. 2, No. 1 (Winter 1988), pp. 3-82.
Timothy H. Hannan and Stephen A. Rhoades, "Acquisition Targets and Motives: The Case of the Banking Industry," Review of Economics and Statistics, Vol. LXIX, No. 1 (February 1987), pp. 67-74.
Martin K. Perry, "Vertical Integration: Determinants and Effects," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 185-255.
Avi Weiss, "The Role of Firm-specific Capital in Vertical Mergers," Journal of Law and Economics, Vol. XXXV, No. 1 (April 1992), pp. 71-88.
G. Conglomerate Diversification
Roger Clarke, "Conglomerate Diversification," Chapter 9, Roger Clarke, Industrial Economics (Oxford: Basil Blackwell, 1985), pp. 196-223.
M. Gort, Diversification and Integration in American Industry (Princeton: Princeton University Press, 1962).
H. Levy and M. Sarnat, "Diversification, Portfolio Analysis and the Uneasy Case for Conglomerate Mergers," Journal of Finance, Vol. 25 (1970), pp. 795-802.
W.G. Lewellen, "A Pure Financial Rationale for the Conglomerate Merger," Journal of Finance, Vol. 26 (1971), pp. 521-37.
P.K. Gorecki, "An Inter-industry Analysis of Diversification in the UK Manufacturing Sector," Journal of Industrial Economics Vol. 25 (1975), pp. 131-46.
M.L. Greenhut and H. Ohta, "Related Market Conditions and Interindustrial Mergers," American Economic Review, Vol. 66 (1976), pp. 267-77.
B.M. Wolf, "Industrial Diversification and Internationalism: Some Empirical Evidence," Journal of Industrial Economics, Vol. 26 (1877(, pp. 177-91.
R.M. Bradburd, "Conglomerate Power Without Market Power: The Effects of Conglomeration on a Risk-adverse Firm," American Economc Review, Vol. 70 (1980), pp. 483-7.
R.M. Bradburd, "A Model of the Effect of Conglomeration and Risk Aversion" Journal of Industrial Economics, Vol. 28 (1980), pp. 369-86.
Y. Amihud and B. Lev, "Risk Reduction as a Managerial Motive for Conglomerate Mergers," Bell Journal of Economics, Vol. 12, (1981) pp. 605-733.
A.W. Goudie and G. Meeks, "Diversification by Merger," Economica, Vol 49, (1982) pp. 447-59.
John Vickers and Michael Waterson, "Vertical Relationships: An Introduction," Journal of Industrial Economics. Vol. XXXIX, No. 5 (September 1991), pp. 445-50. See also nine other articles in this issue on vertical relationships.
III. MARKET CONDUCT
A. The Nature of the Firm: Classical Literature
Adolf A. Berle and Gardiner C. Means, The Modern Corporation and Private Property, revised edition (New York: Harcourt, Brace & World, 1968). Original edition published in 1932 by Macmillan Company.
Thomas Gale Moore et alia, "Corporations and Private Property: A Conference Sponsored by the Hoover Institution," Journal of Law & Economics, Vol. XXVI, No. 2 (June 1983).
Ronald H. Coase, "The Nature of the Firm," Economica (November 1937), pp. 386-405
Tibor Scitovsky, "A Note on Profit Maximization and Its Implications," Review of Economics and Statistics, 1943.
Armen A. Alchian, "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, Vol. LVIII (1950), pp. 211-21.
John Kenneth Galbraith, American Capitalism: The Concept of Countervailing Power (Boston: Houghton Mifflin Co., 1956).
John Kenneth Galbraith, The New Industrial State (Boston: Houghton Mifflin Co., 1967).
John Kenneth Galbraith, "Time and the New Industrial State," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 373. Followed by discussion by Barry Bluestone, p. 377, Robert M. Solow, p. 378, and F.M. Scherer, p. 380.
Robin Marris, The Economic Theory of `Managerial Capitalism (London: Macmillan, 1964).
William J. Baumol, "The Revenue Maximizing Hypothesis," Chapter 6, Business Behavior, Value and Growth, Revised Edition (New York: Harcourt, Brace & World, 1967), pp. 45-52.
Daryl N. Winn and John D. Shoenhair, "Compensation-Based (Dis)Incentives for Revenue Maximizing Behavior: A Test of the "Revised" Baumol Hypothesis," Review of Economics and Statistics, Vol. LXX, No. 1 (February 1988), pp. 154-57.
Herbert A. Simon, "Theories of Decision-Making in Economics and Behavioral Science," American Economic Review, Vol. 49, No. 3 (June 1959).
Richard M. Cyert and James G. March, A Behavioral Theory of the Firm (Englewood Cliffs, N.J.: Prentice-Hall, Inc. 1963), Chapters 3-5.
James G. March, Decisions and Organizations (Oxford: Basil Blackwell, 1988).
Oliver Williamson, "Managerial Discretion and Business Behavior," American Economic Review, Vol. 53, No. 5 (December 1963), pp. 1032-57.
Derek F. Abel and John S. Hammond, Strategic Market Planning: Problems and Analytic
al Approaches (Englewood Cliffs, N.J.: Prentice-Hall, 1979).
Mark Casson, The Firm and the Market (Cambridge, Mass.: MIT Press, 1987).
B. The Nature of the Firm: Modern Literature
Roy J. Ruffin, "The Economics of Information," Chapter 11, Modern Price Theory (Glenview, Illinois: Scott Foresman, 1988), pp. 294-328.
Norman Strong and Michael Waterson,
"Principles, Agents and Information," Chapter 2; Tony McGuinness, "Markets and Managerial Hierarchies,"
Chapter 3; Bruce Lyons, "Strategic Behavior by Firms," Chapter 4;
Steve Davies, "Vertical Integration," Chapter 5; Roger Clarke,
"Conglomerate Firm," Chapter 6; Mark Casson,
"Multinational Firms," Chapter 7; and
Roger Clarke and Tony McGuinness,
"Conclusions," Chapter 8, in Roger Clarke and Tony McGuinness, editors, The Economics of the Firm (Oxford:
Basil Blackwell, 1987).
Armen Alchian and Harold Demsetz, "Production, Information Costs, and Economic Organization," American Economic Review, (1972), pp. 777-795.
M. Jensen and W. Meckling, "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure," Journal of Financial Economics, Vol. 3 (1976), pp. 649-70.
Henry Hansmann, "Ownership of the Firm," Journal of Law, Economics and Organization, Vol. 4, No. 2 (Fall 1988), pp. 267-304.
Oliver E. Williamson, Markets and Hierarchies: Antitrust and Antitrust Implications (New York: The Free Press, 1975).
Jean-Jacques Laffont, "Analysis of Hidden Gaming in a Three-Level Hierarchy," Journal of Law, Economics, & Organization, Vo. 6, No. 2 (Fall 1990), pp. 301-24.
Oliver E. Williamson, "Transaction-Cost Economics: The Governance of Contractual Relations," Journal of Law & Economics, Vol. XXII, No. 2 (October 1979).
Oliver E. Williamson, "Transaction Cost Economics," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 136-82.
Hubert Gatignon and Erin Anderson, "The Multinational Corporation's Degree of Control over Foreign Subsidiaries: An Empirical Test of a Transaction Cost Explanation," Journal of Law, Economics, and Organization, Vol. 4, No. 2 (Fall 1988), pp. 305-36.
Robin Marris and Dennis Mueller, "The Corporation, Competition, and the Invisible Hand," Journal of Economic Literature, Vol. XVII, No. 1 (March 1980), pp. 32-63.
Harvey Leibenstein, Inside the Firm: The Inefficiencies of Hierarchy (Camridge, Mass.: Harvard University Press, 1987).
Richard E. Caves, "Corporate Strategy and Structure," Journal of Economic Literature, Vol. XVII, No. 1 (March 1980), pp. 64-92.
Oliver Williamson, "The Modern Corporation: Origins, Evolution, Attributes," Journal of Economic Literature, Vol. XIX, No. 4 (December 1981), pp. 1537-70.
Ross L. Watts and Jerold L. Zimmerman, "Agency Problems, Auditing, and the Theory of the Firm," Journal of Law & Economics, Vol. XXVI, No. 3 (October 1983), pp. 613-34.
Jean Tirole, "Hierarchies and Bureaucracies: On the Role of Collusion in Organizations," Journal of Law, Economics, and Organization, Vol. 2, No. 2 (Fall 1986), pp. 181-214.
Michael L. Katz, "Vertical Contractual Relations," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp.656-721.
Scott E. Masten, "The Organization of Production: Evidence from the Aerospace Industry," Journal of Law & Economics, Vol. XXVII, No. 2 (October 1984), pp. 403-18.
Jeremy C. Stein, "Takeover Threats and Managerial Myopia," Journal of Political Economy, Vol. 96, No. 1 (February 1988), pp. 61-80.
C.J. Sutton, Economics and Corporate Strategy (Cambridge: Cambridge University Press, 1980).
Alexis Jacquemin, The New Industrial Organization: Market Forces and Strategic Behavior (Cambridge, Mass.: MIT Press, 1987).
Carl Shapiro, "The Theory of Business Strategy," Rand Journal of Economics, Vol. 20, No. 1 (Spring 1989), pp. 125-37.
Franklin M. Fisher, "Games Economists Play: A Noncooperative View," Rand Journal of Economics, Vol. 20, No. 1 (Spring 1989), pp. 113-24.
Oliver Williamson, The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting (New York: The Free Press, 1985).
Masahiko Aoki, "Horizontal vs. Vertical Informatin Structure of the Firm," American Economic Review, Vol. 76, No. 5 (December 1986), pp. 971-83.
Lewis A. Kornhauser, "Reliance, Reputation, and Breach of Contract," Journal of Law & Eonomics, Vol. XXVI, No. 3 (October 1983), pp. 691-706.
Barry D. Baysinger and Henry N. Butler, "The Role of Corporate Law in the Theory of the Firm," Journal of Law & Economics, Vol. XXVIII, No. 1 (April 1985), pp. 179-192.
Andrei Shleifer and Robert W. Vishny, ~"Large Sharefolders and Corporate Control," Journal of Political Economy, Vol. 94, No. 3, Part 1 (June 1986), pp. 461-88.
Clive Bull and Janusz Ordover, "Market Structure and Optimal Management Organizations," Rand Journal of Economics, Vol. 18, No. 4 (Winter 1987), pp. 480-91.
Armen A. Alchian and Susan Woodward, "The Firm Is Dead; Long Live the Firm: A Review of Oliver Williamson's The Economic Institutions of Capitalism," Journal of Economic Literature, Vol. XXVI, No. 1 (March 1988), pp. 65-79.
Oliver Williamson and Sidney G. Winter, editors, "Conference Papers to Celebrate the Fiftieth Anniversary of the `Nature of the Firm'," eight papers on the nature of the firm plus three speeches by R.H. Coase assessing the impact of his classical article "The Nature of the Firm" cited above, Journal of Law, Economics, and Organization, Vol. 4, No. 1 (Spring 1988).
Bengt R. Holmstrom and Jean Tirole, "The Theory of the Firm" in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 63-133.
Paul Milgrom and John Roberts, "The Economics
of Modern Manufacturing: Technology, Strategy, and Organization," American
Economic Review, Vol. 80, No. 3 (June 1990), pp.
511-28.
Joseph E. Stiglitz, "Symposium on Organizations and Economics," Journal of Economic Perspectives, Vol. 5, No. 2 (Spring 1991), pp. 15-24.
Herbert A. Simon, "Organizations and Markets," Journal of Economic Perspectives, Vol. 5, No. 2 (Spring 1991), pp. 25-44.
David E.M. Sappington, "Incentives in Principal-Agent Relationships," Journal of Economic Perspectives, Vol. 5, No. 2 (Spring 1991), pp. 45-66.
Raaj K. Sah, "Fallibility in Human Organizations and Political Systems," Journal of Economic Perspectives, Vol. 5, No. 2 (Spring 1991), pp. 67-88.
Edward P. Lazear, "Labor Economics and the Psychology of Organizations," Journal of Economic Perspectives, Vol. 5, No. 2 (Spring 1991), pp. 89-110.
C. Dominant Firm Conduct
Dennis W. Carlton and Jeffrey M. Perloff, "A Dominant Firm with A Competitive Fringe," Chapter 4, Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
William W. Sharkey, The Theory of Natural Monopoly (Cambridge: Cambridge University Press, 1982).
Richard Schmalensee, "Standards for Dominant Firm Conduct: What Can Economics Contribute," in Donald Hay and John Vickers, The Economics of Market Dominance (Oxford: Basil Blackwell, 1987), Chapter 2, pp. 61-88.
Richard Schmalensee, "Entry Deterence in the Ready-to-Eat Breakfast Cereal Industry," Bell Journal of Economics, Vol. 9 (1978), pp. 305-27.
Janusz A. Ordover, "Predation, Monopolization, and Antitrust," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 538-96.
D. Oligopoly
Dennis W. Carlton and Jeffrey M. Perloff, "Cartels: Oligopoly Joint Decision Making," Chapter 5; "Noncooperative Oligopoly," Chapter 10, Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
F.M. Scherer and David Ross, "Economic Theories of Oligopoly Pricing," Chapter 6; "Conditions Facilitating Oligopolistic Coordination," Chapter 7; "Conditions Limiting Oligopolistic Coordination," Chapter 8, Industrial Market Structure and Economic Performance (Boston: Houghton Mifflin, 1990).
Thomas C. Schelling, The Strategy of Conflict (Oxford: Oxford University Press, 1960).
Roy Ruffin, "Monopolistic Competition and Oligopoly," Chapter 12, Modern Price Theory (Glencoe, Illinois: Scott Foresman, 1988), 340-364.
H. Simon, Price Management (Amsterdam: Elsevier Science Publishers, 1989).
George J. Stigler, "A Theory of Oligopoly," Journal of Political Economy, Vol. KXXI, No. 1 (February 1964).
Michael Waterson, "Classical Theories of Oligopoly," and "Oligopoly: The Game-Theoretic Approach," Economic Theory of the Industry (Cambridge: Cambridge University Press, 1984), Chapter 2 and 3, pp. 17-55.
Louis Phlips, "Information and Collusion," in Donald Hay and John Vickers, The Economics of Market Dominance (Oxford: Basil Blackwell, 1987), Chapter 3, pp. 89-104.
George A. Hay, "The Interaction of Market Structure and Conduct," in Donald Hay and John Vickers, editors, The Economics of Market Dominance (Oxford: Basil Blackwell, 1987), Chapter 4, pp. 105-128.
Lester G. Telser, Theories of Competition (Amsterdam: North-Holland Press, 1988).
Alexis Jacquemin and Margaret E. Slade, "Cartels, Collusion, and Horizontal Merger," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland,
Carl Shapiro, "Theories of Oligopoly Behavior," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 330-414., pp. 416-73.
F.M. Scherer, "The Price and Profit Consequences of Market Structure," Chapter 9; "Buyer Power and Vertical Price Relationships," Chapter 10; "Price Discrimination," Chapter 11; "Conglomerate Size and Pricing Behavior," Chapter 12, Industrial Market Structure and Economic Performance, second edition (Boston: Houghton Mifflin, 1980).
Dennis W. Carlton and Jeffrey M. Perloff, Chapter 9, "Price Discrimination," Chapter 10, "Advanced Topics in Pricing," and Chapter 11, Strategic Behavior, Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
Drew Fudenberg and Jean Tirole, Dynamic Models of Oligopoly (Chur:Harwood Academic Publishers, 1986).
John S. McGee, "Predatory Price Cutting: The Standard Oil (N.J.) Case," Journal of Law & Economics, Vol. 1, No. 1 (October 1958), pp. 137-69.
John S. McGee, "Predatory Price Cutting Revisited," Journal of Law & Economics, Vol. 23 (1980), pp. 289-330.
Malcolm R. Burns, "Predatory Pricing and the Acquisition Cost of Competitors," Journal of Political Economy, Vol. 94, No. 2 (April 1986), pp. 266-96.
F.M. Scherer and David Ross, "Price Discrimination," Chapter 13, Industrial Market Structure and Economic Performance (Boston: Houghton Mifflin, 1990).
Asher Wolinsky, "Brand Names and Price Discrimination," Journal of Industrial Economics, Vol. XXXV, No. 3 (March 1987), pp. 255-68.
Thomas W. Ross, "Brand Information and Price," Journal of Industrial Economics, Vol. XXXVI, No. 3 (March 1988), pp. 301-14.
Dennis W. Carlton and Jeffrey M. Perloff, "Price Discrimination," Chapter 14; "Advanced Topics in Pricing," Chapter 15, Modern Industrial Organization (Glenview, Illinois: Scott Foresman/Little Brown, 1990).
R.B. Ekelund, "Price Discrimination and Product Differentiation in Economic Theory: An Early Analysis," Quarterly Journal of Economics, Vol. 84 (1970), pp. 268-78.
Arthur C. Pigou, The Economics of Welfare, fourth edition (London: Macmillan, 1920).
Walter Y. Oi, "A Disneyland Dilemma: Two-Part Tariffs for a Mickey Mouse Monopoly," Quarterly Journal of Economics, Vol. 85 (1971), pp. 77-90.
Richard Schmalansee, "Monopolistic Two-Part Pricing Arrangements," Bell Journal of Economics, Vol. 12 (1982), 445-466.
L. Phlips, The Economics of Price Discrimination (Cambridge: Cambridge University Press, 1983).
Hal R. Varian, "Price Discrimination," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 598-654.
S. Salop, "The Noisy Monopolist: Imperfect Information, Price Dispersion, and Price Discrimination," Review of Economic Studies, Vol. 44 (1977), pp. 393-406.
Richard Schmalansee, "Output and Welfare Implications of Monopolistic Third-Degree Discrimination," American Economic Review, Vol. 71 (1981), pp. 242-47.
S. Oren, S. Smith, and R. Wilson, "Linear Tariffs with Quality Discrimination," Bell Journal of Economics, Vol. 13 (1982), pp. 455-471.
H. Varian, "Price Discrimination and Social Welfare," American Economic Review, Vol. 75 (1985), pp. 870-75.
David D. Haddock, "Basing-Point Pricing: Competitive vs. Collusive Theories," American Economic Review, Vol. 72 (June 1982), pp. 289-306.
Bruce L. Benson, Melvin L. Grenhut, and George Norman, "On the Basing-Point System," American Economic Review, Vol. 80 (June 1990), pp. 584-88.
David D. Haddock, "On the Basing-Point System: Comment" and Bruce L. Benson, Melvin L. Grenhut, and George Norman, "On the Basing-Point System: Reply" American Economic Review, Vol. 80, No. 4 (September 1990), pp. 957-67.
S. Oren, S. Smith, and R. Wilson, "Pricing A Product Line," Journal of Business, Vol. 57, No. 1 (1984), pp. S73-S100.
M. Katz, "Nonuniform Pricing, Output and Welfare under Monopoly," Review of Economic Studies, Vol. 50 (1983), pp. 37-56.
M. Goldman, H. Leland and D. Sibley, "Optimal Nonuniform Pricing," Review of Economics Studies, Vol. 51 (1984).
Daniel F. Spulber, Regulation and Markets (Cambridge, Mass.: MIT Press, 1989), Chap. 3, "Cost-Based Pricing,"; Chap. 4, "Contestable Markets and Sustainable Monopoly Prices,"; Chap. 5, "Second-Best Pareto Optimal Pricing,"; Chap. 6, "Second-Best Pricing and the Core,"; Chap. 7, "Second-Best Price Discrimination,"; Chap. 8, "Optimal Pricing,"; Chap. 9, "Franchise Competition,".
E. Advertising
F.M. Scherer and David Ross, "Product Differentiation, Market Structure, and Competition," Chapter 16 Industrial Market Structure and Economic Performance (Houghton Mifflin, 1990).
Dennis W. Carlton and Jeffrey M. Perloff, "Product Differentiation and Monopolistic Competition," Chapter 7; "Information," Chapter 13; "Advertising and Discosure," Chapter 14, Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
Philip Kotler, Marketing Management, second edition, (Englewood Cliffs, N.J.: Prentice-Hall, 1972), Chapters 17-19.
Nicholas Kaldor, "Economic Aspects of Advertising," Review of Economic Studies, Vol. 18 (1940-41), pp. 1-27.
Robert Dorfman and Peter O. Steiner, "Optimal Advertising and Optimal Quality," American Economic Review, Vol. 44, No. 5 (December 1954), pp. 826-36.
Marc Nerlove and Kenneth J. Arrow, "Optimal Advertising Policy Under Dynamic Conditions," Economica, Vol. 29 (1962), pp. 129-42.
William S. Comanor and Thomas A. Wilson, "The Effect of Advertising on Competition: A Survey," Journal of Economic Literature, Vol. 17 (1979), pp. 453-76.
Michael Waterson, "Advertising," in Economic Theory of the Industry (Cambridge: Cambridge University Press, 1984), Chapter 7, pp. 128-141.
George J. Stigler and Gary S. Becker, "De Gustibus Non Est Disputandum," American Economic Review, Vol. 67, No. 1 (March 1977), pp. 76-90.
Philip Nelson, "Information and Consumer Behavior," Journal of Political Economy, Vol. 78 (1970), pp. 311-29.
Philip Nelson, "Advertising As Information," Journal of Political Economy, Vol. 82 (July/August 1974), pp. 729-54.
M. Darby and E. Karni, "Free Competition and the Optimal Amount of Fraud," Journal of Law & Economics, Vol. 16 (1973), pp. 67-88.
R. Kihlstrom, D. Levhari, and M. Riorday, "Advertising as a Signal," Journal of Political Economy, Vol. 92 (1984), pp. 427-50.
I.P.L. Png and David Reitman, "Why Are Some Products Branded and Others Not," Journal of Law & Economics, Vol. 38, No. 1 (April 1995), pp. 207-224.
Harold Demsetz, "Industry Structure, Market Rivalry, and Public Policy," Journal of Law and Economics, Vol. 16, 1973, pp. 1-10.
Gary S. Becker and Kevin M. Murphy, "A Simple Theory of Advertising as a Good or Bad," Quarterly Journal of Economics, Vol. 108, Issue 4 (November 1993), pp. 941-964.
Harold Demsetz, "Accounting for Advertising as a Barrier to Entry," Journal of Business, Vol. 52, 1979, pp. 345-60.
F. Fisher and J. McGowan, "Advertising and Welfare: Comment," Bell Journal of Economics, Vol. 10 (1979), pp. 726-27.
G. Butters, "Equilibrium Distributions of Sales and Advertising Prices," Review of Economics Studies, Vol. 44 (1977), pp. 465-91.
William P. Rogerson, "Price Advertising and the Deterioration of Product Quality," Journal of Economic Studies, Vol. LV(2), No. 182 (April 1988), pp. 215-30.
S.I. Ornstein, Industrial Concentration and Advertising Intensity (Washington: American Enterprise Institute, 1977).
Paul Milgrom and John Roberts, "Price and Advertising Signals of Product Quality," Journal of Political Economy, Vol. 94, No. 4 (August 1986), pp. 796-821.
Yoram Peles, "Rates of Amortization of Advertising Expenditures," Journal of Political Economics, Vol. 79 (1971), pp. 1032-58.
Richard Schmalansee, The Economics of Advertising (Amsterdam-London: North Holland Publishing Co., 1972).
Richard Schmalansee, "Advertising and Entry Deterrence: An Exploratory Model," Journal of Political Economy, Vol. 91, 1983, pp. 636-53.
A. Michael Spence, "Notes on Advertising, Economies of Scale, and Entry Barriers," Quarterly Journal of Economics, Vol. 95, 1980, pp. 493-507.
James M. Ferguson, Advertising and Competition; Theory, Measurement, Fact (Cambridge, Mass.: Ballinger Publishing Co., 1974).
J.J. Lambin, Advertising, Competition and Market Conduct in Oligopoly Over Time (Amsterdam-London: North Holland Publishing Co., 1976). [See extensive bibliography, pp. 290-308.]
Len M. Nichols, "Advertising and Economic Welfare," American Economic Review, Vol. 75, No. 1 (March 1985), pp. 213-18.
Oded Hochman and Israel Luski, "Advertising and Economic Welfare: Comment," American Economic Review, Vol. 78, No. 1 (March 1988), pp. 290-96.
Mark A. Hurwitz and Richard E. Caves, "Persuasion or Information? Promotion and the Shares of Brand Name and Generic Pharmaceuticals," Journal of Law and Economics, Vol. 31, No. 2 (October 1988), pp. 299-320.
Lacy Glenn Thomas, "Advertising in Consumer Goods Industries: Durability, Economies of Scale, and Heterogeneity," Journal of Law and Economics, Vol. XXXII, No.1, April 1989, pp. 163-194.
Lee Benham, "The Effect of Advertising on the Price of Eyeglasses," Journal of Law and Economics, Vol. 15, No. 2, October 1972, pp. 337-52.
Stephen C. Salop and Joeseph E. Stigler, "Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion," Reviews of Economic Studies, Vol. 44, No. 3, pp. 493-510.
Jeffrey Milyo and Joel Waldfogel, "The Effect of Price Advertising on Prices: Evidence in the Wake of 44 Liquormart," American Economic Review, Vol. 89, No. 5, December 1999, pp. 1081-1096.
Raymond D. Sauer and Keith B. Leffler, "Did the Federal Trade Commission's Advertising Substantiation Program Promote More Credible Advertising?," American Economic Review, Vol. 80, No. 1 (March 1990), pp. 191-203.
F. Vertical Relations
F.M. Scherer and David Ross, "Buyer Power and Vertical Pricing Relationships," Chapter 14; "Vertical Restraints: Law and Economics," Chapter 15 , Industrial Market Power and Economic Performance (Boston: Houghton Mifflin, 1990).
Dennis W. Carlton and Jeffrey M. Perloff, "Vertical Integration and Vertical Restrictions," Chapter 12, Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
Ward S. Bowman, "Tying Arrangements and the Leverage Problem," Yale Law Journal, Vol. 67 (1957), pp. 19-36.
Meyer Burstein, "A Theory of Full Line Forcing," Northwestern University Law Review, Vol. 55 (February 1960), pp. 62-9.
Howard P. Marvel, "Exclusive Dealing," Journal of Economics & Law, Vol. XXV, No. 1 (April 1982), pp. 1-26.
Tim R. Sass and Micha Gisser, "Agency Cost, Firm Size, and Exclusive Dealing," Journal of Law and Economics, Vol. XXXII, No. 2 (Pt. 1) (October 1989), pp. 381-400.
Lester G. Telser, "Why Should Manufacturers Want Fair Trade II," Journal of Law & Economics, Vol. 33, No. 2 (October 1990), pp. 409-418.
Pauline M. Ippolito, "Resale Price Maintenance: Empirical Evidence from Litigation," Journal of Law & Economics, Vol. XXXI , No. 2, Part 1 (October 1991), pp. 263-94.
Michael L. Denger, "Resale Pricing Issues in Distribution and Franchisor Operations," Antitrust Law Journal, Vol. 60, No. 2 (Annual Meeting 1991), pp. 419-45.
Kevin J. Arquit, "Resale Price Maintenance: Consumers' Friend or Foe?" Antitrust Law Journal, Vol. 60, No. 2 (Annual Meeting 1991), pp. 447-64.
Michael D. Whinston, "Tying, Foreclosure, and Exclusion," American Economic Review, Vol. 80, No. 4 (September 1990), pp. 837-59.
William J. Adams and Janet L. Yellen, "Commodity Bundling and the Burden of Monopoly," Quarterly Journal of Economics, Vol. 90 (August 1976), pp. 475-98.
Richard Schmalansee, "Commodity Bundling by Single-Product Monopolies," Journal of Law & Economics, Vol. XXV,, No. 1 (April 1982), pp. 67-72.
Robert Forsythe, R. Mark Isaac, and Thomas R. Palfrey, "Theories and Tests of 'Blind Bidding' in Sealed-Bid Auctions," Rand Journal of Economics, Volume 20, No. 2 (Summer 1989), pp. 214-38.
G. Frank Mathewson and Ralph A. Winter, "The Economics of Franchise Contracts," Journal of Law & Economics, Vol. XXVIII, No. 3 (October 1985), pp. 503-26.
Roy W. Kenney and Benjamin Klein, "The Economics of Block Booking," Journal of Law & Economics, Vol. XXVI, No. 3 (October 1983), pp. 497-540.
Lester G. Telser, "Why Should Manufacturers Want Fair Trade?" Journal of Law & Economics, Vol. 3, No. 2 (October 1960), pp. 86-105.
Howard P. Marvel and Stephen McCafferty, "The Political Economy of Resale Price Maintenance," Journal of Political Economy, Vol. 94, No. 5 (October 1986), pp. 1074-95.
Benjamin Klein and Kevin M. Murphy, "Vertical Restraints as Contract Enforcement Mechanisms," Journal of Law & Economics, Vol. 31, No. 2 (October 1988), pp. 265-98.
Andrea Shepard, "Pricing Behavior and Vertical Contracts in Retail Markets," American Economic Review, Vol. 80, No. 2 (May 1990), pp. 427-31.
Michael E. Porter, Interbrand Choice, Strategy, and Bilateral Market Power (Cambridge, Mass.: Harvard University Press, 1976).
Michael A. Salinger, "The Meaning of 'Upstream' and 'Downstream' and the Implications for Modeling Vertical Mergers," Journal of Industrial Economics, Vol. XXXVII, No. 4 (June 1989), pp. 373-88.
G. Merging
F.M. Scherer and David Ross, "Mergers: History, Effects, and Policy," Chapter 5, Industrial Market Structure and Economic Performance (Boston: Houghton-Mifflin, 1990).
Peter O. Steiner, Mergers: Motives, Effects, Policies (Ann Arbor: University of Michigan Press, 1975).
P.E. Hart, M.A. Utton and G. Walshe, Mergers and Concentration in British Industry (Cambridge: Cambridge University Press, 1973).
G. Meeks, Disappointing Marriage: A Study of the Gains from Merger (Cambridge: Cambridge University Press, 1977).
George J. Benston, Conglomerate Mergers: Causes, Consequences, and Remedies (Washington, D.C.: American Enterprise Institute, 1980).
Yale Brozen, Mergers in Perspective (Washington, D.C.: American Enterprise Institute, 1982).
David J. Ravenscraft and F.M. Scherer, Mergers, Sell-Offs, and Economic Efficiency (Washington, D.C.: Brookings Institution, 1987).
Dennis C. Mueller, The Corporation: Growth, Diversification and Mergers (Chur: Harwood Academic Publishers, 1987).
Dennis C. Mueller, "Special Issue on Mergers," International
Journal of Industrial Organization, Vol. 7, No. 1 (1989), pp. 1-178. Includes
Dennis C. Mueller, "Mergers: Causes, Effects, and Policies," pp.
1-10; Mark A. Dutz, "Horizontal Mergers in
Declining Industries: Theory and Evidence," pp. 11-34; John T. Scott,
"Purposive Diversification as a Motive for
Merger," pp. 35-48; Ioroyuki Odagiri and Tatsuo Hase, "Are Mergers and Acquisitions Going to be
Popular in Japan Too? An Empirical Study," pp. 49-72; A.D. Cosh, A. Hughes, K. Lee, and A. Singh, "Institutional
Investment, Mergers, and the Market for Corporate Control," pp. 73-100;
David J. Ravenscraft and F.M. Scherer, "The
Profitability of Mergers," pp.
101-116; J. Rody Borg, Mary O. Borg and John D. Leeth, "The Success of Mergers in the 1920s: A Stock
Market Appraisal of the Second Merger Wave," pp. 117-132; William W. Alberts and Nikhil P. Varaiya,"
Assessing the Profitability of Growth by Acquisition: A 'Premium Recapture'
Approach," pp. 133-150; Richard Caves, "Mergers, Takeovers, and
Economic Efficiency: Foresight vs. Hindsight," pp. 151-174.
Alan J. Auerbach, editor, Mergers and Acquisitions (Chicago: National Bureau of Economic Research, 1988).
David Scharfstein, "The Disciplinary Role of Takeovers," Review of Economic Studies, Vol. LV(2), No. 182 (April 1988), pp. 185-200.
Dennis C. Mueller, editor, "Mergers: A Special Issue," nine articles on mergers in International Journal of Industrial Organization, Vol. 7, No. 1, (March 1989) pp. 1-178.
Joseph Farrell and Carl Shapiro, "Horizontal Mergers: An Equilibrium Analysis," American Economic Review, Vol. 80, No. 1 (March 1990), pp. 107-26.
H. Product Policy
Elizabeth E. Bailey and Ann F. Friedlander, "Market Structure and Multiproduct Industries," Journal of Economic Literature, Vol. XX, No. 3 (September 1982), pp. 1024-48.
J. Beath and Y. Katsoulacos, The Economic Theory of Product Differentiation (Cambridte, UK: Cambridge University Press, 1991).
Philip Kotler, Marketing Management: Analysis, Planning, and Control, second edition (Englewood Cliffs, N.J.: Prentice-Hall, 1972), Chapters 6, 11-16.
Debra J. Aron and Edward P. Lazear, "The Introduction of New Products," American Economic Review, Vol. 80, No. 2 (May 1990), pp. 421-26.
Kim B. Clark, W. Bruce Chew, and Takahiro Fujimota, "Product Development in the World Auto Industry," Brookings Papers on Economic Activity 1987:3, pp. 729-82.
Dennis W. Carlton and Jeffrey M. Perloff, "Information," Chapter 17, Modern Industrial Organization (Glenview, Illinois: Scott Foresman/Little Brown, 1990).
Tibor Scitovsky, "Some Consequences of the Habit of Judging Quality by Price," Review of Economic Studies, Vol. 12 (1945), pp. 100-105.
G. A. Akerlof, "The Market for Lemons," Quarterly Journal of Economics, Vol. 84, No. 3 (August 1970), pp. 488-500.
M. Mussa and S. Rosen, "Monopoly and Product Quality," Journal of Economic Theory, Vol. 18 (1971), pp. 301-17.
Michael Spence, "Consumer Misperceptions, Product Failure, and Producer Liability," Review of Economic Studies, Vol. 44 ((1971), pp. 561-72.
Michael Spence, "Monopoly, Quality, and Reputation," Bell Journal of Economics (1975).
F. Allen, "Reputation and Product Quality," Rand Journal of Economics, Vol. 15, (1984), pp. 488-500.
C. Shapiro, "Premiums for High Quality Products as Returns to Reputations," Quarterly Journal of Economics," Vol. 98 (1983b), pp. 659-79.
P. Milgrom and J. Roberts, "Price and Advertising Signals of Product Quality," Journal of Political Economy, Vol. 94 (1986), pp. 796-821.
David Besanko, Shabtai Donnenfeld, and Lawrence J. White, "Monopoly and Quality Distortion," Quarterly Journal of Economics, Vol. 102 (November 1987), pp. 743-68.
D. Curry and P. Riesz, "Prices and Price/Quality Relationships: A Longitudinal Analysis," Journal of Marketing, Vol. 52 (January 1988), pp. 36-51.
David Besanko, Shabtai Donnenfeld, and Lawrence J. White, "The Multiproduct
Firm, Quality Choice, and Regulation," Journal of Industrial Economics,
Vol. 36 (June 1988), pp.
411-30.
Padmanabhan and Ralph M. Bradburd, "Quality Distortion by a Discriminating Monopolist," American Economic Review, Vol. 79, No. 1 (March 1989), pp. 96-105.
Shabtai Donnenfeld, and Lawrence J. White, "Quality Distortion by a Discriminating Monopolist: Comment," American Economic Review, Vol. 80, No. 4 (September 1990), pp. 941-45.
J. Gotlieb, "Communicating Price-Quality Relationships," Journal of Applied Social Psychology, Vol. 20 (1990), pp. 404-23.
Kyle Bagwell, "Pricing to Signal Product Line Quality," Journal of Economics & Management Strategy, Vol. 1, No. 1 (Spring 1992), pp. 151-74.
Dennis W. Carlton and Jeffrey M. Perloff, "Decision Making Over Time: Durability," Chapter 19, Modern Industrial Organization (Glenview, Illinois: Scott Foresman/Little Brown, 1990).
F. Allen,"Reputation and Product Quality," Rand Journal of Economics, Vol. 15 (1984), pp. 311-27.
Kyle Bagwell and Michael H. Riordan, "High and Declining Prices Signal Product Quality," American Economic Review, Vol. 81, No. 1 (March 1991), pp. 224-39.
Nancy A. Lutz, "Warranties as Signals under Consumer Moral Hazard," Rand Journal of Economics, Vol. 20, No. 2 (Summer 1989), pp. 239-55.
Duncan P. Mann and Jennifer P. Wissink, "Money-Back Warranties vs. Replacement Warranties: A Simple Comparison," American Economic Review, Vol. 80, No. 2 (May 1990), pp.432-36.
R. Kihlstrom and D. Levhari, "Quality, Regulation, and Efficiency," Kyklos, Vol. 30 (1977), pp. 214-34.
H. Leland, "Quacks, Lemons and Licensing: A Theory of Minimum Quality Standards," Journal of Political Economy, (1979), pp. 1328-46.
D. Smallwood and J. Conlisk, "Product Quality in Markets where Consumers are Imperfectly Informed," Quarterly Journal of Economics, Vol. 93 (1979), pp. 1-23.
D. Kreps and R. Wilson, "Reputation and Imperfect Information," Journal of Political Economy, Vol. 27 (1982), pp. 253-79.
C. Shapiro, "Premiums for High Quality Products as Rents to Reputation," Bell Journal of Economics (1983).
Franklin Allen, "Reputation and Product Quality," Rand Journal of Economics, Volume 15 (Autumn 1984), pp. 311-327.
William P. Rogerson, "The Dissipation of Profits by Brand Name Investment," Journal of Political Economy, Vol. 95, No. 4 (August 1987), pp. 797-809.
Carl Shapiro, "Premiums for High Quality Products as Returns to Reputations," Quarterly Journal of Economics, Vol. 98 (November 1983), pp. 659-679.
Raymond S. Hartman, "Product Quality and Market Efficiency: The Effect of Product Recalls on Resale Prices and Firm Valuation," Review of Economics and Statistics, Vol. LXIX, No. 2 (May 1987), pp. 367-71.
F.M. Scherer, "The Welfare Economics of Product Variety: An Application to the Ready-to-Eat Cereals Industry," Journal of Industrial Economics, Vol. 28 (1979), pp. 113-34.
Michael E. Porter, Interbrand Choice, Strategy and Bilateral Market Power (Cambridge, Mass.: Harvard University Press, 1976).
Merlin Stone, Product Planning (New York: Halsted Press, 1976).
Carmen Matutes and Pierre Regibeau, "Standardization Across Markets and Entry," Journal of Industrial Economics, Vol. XXXVII, No. 4 (June 1989), pp. 359-72.
Nathan Rosenberg, Perspectives on Technology (Cambridge: Cambridge University Press, 1976).
I. Strategic Behavior: Entry, Accommodation, Exit
Dennis W. Carlton and Jeffrey M. Perloff, "Strategic Behavior," Chapter 11, Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
F.M. Scherer and David Ross, "The Dynamics of Monopoly and Oligopoly Pricing," Chapter 10, Industrial Market Structure and Economic Performance (Boston: Houghton Mifflin, 1990).
R. Caves and M. Porter, "From Entry Barriers to Mobility Barriers," Quarterly Journal of Economics, Vol. 9 (1971), pp. 241-67.
B.C. Eaton and R.G. Lipsey, "The Theory of Market Premption: The Persistence of Excess Capacity and Monopoly in Growing Spatial Markets," Econometrica, Vol. 46 (1979), pp. 149-58.
R. Rao and D. Rutenberg, "Preempting an Alert Rival: Strategic Timing of the first Plant by Analysis of Sophisticated Rivalry," Bell Journal of Economics, Vol. 10 (1979), pp. 412-28.
B.C. Eaton and R.G. Lipsey, "Capital, Commitment, and Entry Equilibrium," Bell Journal of Economics, Vol. 12 (1980), pp. 593-604.
Ralph M. Bradburd and David R. Ross, "Can Small Firms Find and Defend Strategic Niches?," Review of Economics and Statistics, Vol. LXXI, No. 2 (May 1989), pp. 258-62.
A. Dixit, "The Role of Investment in Entry Deterrence," Economic Journal, Vol. 90 (1980), pp. 95-106.
Michael Poitevin, "Financial Signalling and the 'Deep-Pocket' Argument," Rand Journal of Economics, Vol. 20, No. 1 (Spring 1989), pp. 26-40.
Richard J. Gilbert and David M. Newbery, "Alternative Entry Paths: The
Build or Buy Decision," Journal of Economics & Management Strategy,
Vol. I, No. 1 (Spring 1992), pp.
129-150.
Boyan Jovanovic and Saul Lach, "Entry, Exit, and Diffusion with Learning by Doing," American Economic Review, Vol. 79, No. 4 (September 1989), pp. 690-99.
Michael D. Whinston, "Exit With Multiplant Firms," Rand Journal of Economics), Vol. 19, No. 4 (Winter 1988), pp. 568-88.
P. Ghemawat and D. Newberry, "Premptive Patenting and the Persistence of Monpoly," American Economic Review, Vol. 72 (1982), pp. 514-26.
John Beath, Yannis Katsoulacos and David Ulph, "Strategic R&D Policy," Economic Journal, Vol. 99, No. 395 (Supplement 1989), pp. 74-83.
David B. Audretsch and Hideki Yamawaki, "R&D Rivalry, Industrial Policy, and U.S.-Japanese Trade," Review of Economics and Statistics, Vol. LXX, No. 3 (August 1988), pp. 438-47.
D. Bhernheim, "Strategic Entry Deterrence of Sequential Entry Into an Industry," Rand Journal of Economics, Vol. 15 (1984), pp. 1-11.
D. Fudenberg, R. Gilbert, J. Stiglitz, and J. Tirole, "Preemption, Leapfrogging, and Competition in Patent Races," European Economic Review, Vol. 22 (1983), pp. 3-31.
Richard Schmalansee, "Advertising and Entry Deterrence: An Exploratory Model," Journal of Political Economy, Vol. 90 (1983), pp. 636-53.
P. Milgrom and J. Roberts, "Price and Advertising Signals of Product Quality," Journal of Political Economy, Vol. 94 (1986), pp. 796-821.
J. Bulow, J. Geanakoplos, and P. Klemperer, "Holding Idle Capacity to Deter Entry, Economic Journal, Vol. 95 (1985), pp. 178-82.
G. Bonanno, "Location, Choice, Product Proliferation and Entry Deterrence," Review of Economic Studies, Vol. LIC (1986), pp. 37-46.
T. Cooper, "Most-Favored Customer Pricing and Tacit Collusion," Rand Journal of Economics, Vol. 17 (1986), pp. 377-88.
D. Fudenberg and and R. Gilbert, "Understanding Rent Dissipation: On the Use of Game Theory in Industrial Organization," American Economic Review (May 1987).
P. Ghemawat and B. Nalebuff, "Exit," Rand Journal of Economics, Vol. 16 (1985), pp. 184-94.
T. Gilbert and X. Vives, "Entry Deterrence and the Free Rider Problem" Review of Economic Studies, Vol. 53 (1986), pp. 71-83.
D.J. Morris, P.J.N. Sinclair, M.D.E. Slater, and J.S. Vickers, Strategic Behavior and Industrial Competition (Oxford: Oxford University Press, 1986).
D. Encaoua, P. Geroski, and A. Jacquemin, "Strategic Competition and the Persistence of Dominant Firms: A Survey," Chapter 2 of J. Stiglitz and F. Mathewson, editors, New Developments in the Analysis of Market Structure (Cambridge, Mass.: MIT Press, 1986).
Drew Fudenberg and Jean Tirole, "Noncooperative Game Theory for Industrial Organization: An Introduction and Overview," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 259-327.
Richard J. Gilbert, "Mobility Barriers and the Value of Incumbency," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 476-535.
Janusz A. Ordover, Garth Saloner, and Steven C. Salop, "Equilibrium Vertical Foreclosure," American Economic Review, Vol. 80, No. 1 (March 1990), pp. 127-42.
IV. MARKET PERFORMANCE
A. Profitability
Dennis W. Carlton and Jeffrey M. Perloff, "Industry Structure and Performance," Chapter 8, Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
F.M. Scherer and David Ross, "Market Structure and Performance," Chapter 11, Industrial Market Structure and Economic Performance (Boston: Houghton Mifflin, 1990).Joe Bain, "Relation of Profit Rate to Industry Concentration: American Manufacturing 1936-1940," Quarterly Journal of Economics, Vol. 65 (August 1951), pp. pp. 293-324.
H. Michael Mann, "Seller Concentration, Barriers to Entry, and Rates of Return in Thirty Industries," Review of Economics and Statistics, Vol. 48 (1966), pp. 296-307.
W.S. Commanor and T.A. Wilson, "Advertising, Market Structure and Performance," Review of Economics and Statistics, Vol. XLIX (November 1967), pp. 423-440.
Norman R. Collins and Lee E. Preston, "Price-Cost Margins and Industry Structure," Review of Economics and Statistics, Vol. 51 (1969), pp. 271-86.
Leonard W. Weiss, editor, Concentration and Price (Cambridge, Mass.: MIT Press, 1989).
Thomas R. Stauffer, "The Measurement of Corporate Rates of Return: A Generalized Formulation," Bell Journal of Economics and Management Science, Vol. 2, No. 2 (Autumn 1971), pp. 434-69.
Thomas R. Stauffer, The Measurement of Corporate Rates of Return (New York: Garland Publishing Co., 1980).
Jeremy Edwards, John Kay, and Colin Mayer, The Economic Analysis of Accounting Profitability (Oxford: Oxford University Press (Clarendon), 1987).
Elisabeth M. Landes and Andrwe M. Rosenfield, "The Durability of Advertising Revisited," Journal of Industrial Economics, Vol. XLII, No. 3 (September 1994), pp. 263-76.
Dennis C. Mueller, Profits in the Long Run (Cambridge: Cambridge University Press, 1986).
Dennis C. Mueller, editor, The Dynamics of Company Profits: An International Comparison (Cambridge: Cambridge University Press, 1990).
S. Martin, "Advertising, Concentration, and Profitability: the Simultaneity Problem," Bell Journal of Economics, Vol. 10 (1979), pp. 639-47.
Leonard W. Weiss, "Quantitative Studies in Industrial Organization," in Michael D. Intriligator, editor, Frontiers of Quantitative Economics (Amsterdam: North-Holland Press, 1971).
John M. Vernon, Market Structure and Industrial Performance: A Review of the Statistical Findings (Boston: Allyn and Bacon, 1972).
Almarin Phillips, "A Critique of Empirical Studies of Relations between Market Structure and Profitability," Journal of Industrial Economics, Vol. 24 (June 1976), pp. 241-49.
Richard Schmalensee, "Intra-Industry Profitability Differences in U.S. Manufacturing," Journal of Industrial Economics, Vol. XXXVII, No. 4 (June 1989), pp. 337-58.
Michael Salinger, "The Concentration-Margins Relationship Reconsidered," in Martin Neil Baily and Clifford Winston, editors, Brookings Papers on Economic Activity: Microeconomics 1990(Washington, D.C.: The Brookings Institution, 1990), pp. 287-335. Includes comments and discussion by Richard E. Caves and by Sam Peltzman.
David J. Ravenscraft, "Structure-Performance Relationships at the Line of Business and Industry Level," Review of Economics and Statistics, Vol. 65 (February 1983), pp. 22-31.
G.J. Benston, "The Validity of Profits-Structure Studies with Particular Reference to the FTC's Line of Business Data," American Economic Review, Vol. 75 (March 1985), pp. 37-67.
Dennis Mueller, Profits in the Long Run (London: Cambridge University Press, 1986).
Dennis C. Mueller, editor, The Dynamics of Company Profits: An International Comparison (Cambridge, Mass.: MIT Press, 1990).
Robert A. Connolly, Barry T. Hirsch and Mark Hirschey, "Union Rent Seeking, Intangible Capital, and the Market Value of the Firm" Review of Economics and Statistics, Vol. 68 (November 1986), pp. 567-77.
Robert A. Connolly and Mark Hirschey, "R&D, Market Structure and Profits: A Value Based Approach," Review of Economics and Statistics, Vol. 66 (November 1984), pp. 682-86.
Yale Brozen, "Entry Barriers: Advertising and Product Differentiation," and H. Michael Mann, "Advertising, Concentration, and Proftability " in Harvey J. Goldschmid, H. Michael Mann, and J. Fred Weston Industrial Concentration: The New Learning (Boston: Little, Brown and Co., 1974), pp. 114-161.
Harold Demsetz, "Two Systems of Belief About Monopoly," and Leonard W. Weiss, "The Concentration-Profits Relationship and Antitrust," in Harvey Goldschmid, H. Michael Mann, and J. Fred Weston, Industrial Concentration: The New Learning (Boston: Little, Brown and Co., 1974), pp. 162-245.
Richard Schmalensee, "Inter-Industry Studies of Structure and Performance," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 951-1009.
Timothy F. Breshnahan, "Empirical Studies of Industries with Market Power," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1011-1057.
David G. Tuerck, editor, Issues in Advertising: The Economics of Persuasion (Washington, D.C.: American Enterprise Institute, 1978).
Michael Waterson, "A Guide to the Empirical Work," in Economic Theory of the Industry (Cambridge: Cambridge University Press, 1984), Chap. 10, pp. 189-212.
Richard Schmalensee, The Economics of Advertising (Amsterdam: North-Holland Publishing Co., 1972).
William M. Landes, Dennis W. Carlton, and Frank H. Easterbrook, editors, "Empirical Approaches to Market Power," A Conference Sponsored by the University of Illinois and the Federal Trade Commission, Journal of Law and Economics, Vol. XXXII, No. 2, Part 2 (October 1989).
William S. Comanor and Thomas A. Wilson, Advertising and Market Power (Cambridge: Harvard University Press, 1974).
James M. Ferguson, Advertising and Competition: Theory, Measurement, Fact (Cambridge: Ballinger Publishing Co., 1974).
Kenneth W. Clarkson, Intangible Capital and Rates of Return (Washington, D.C., American Enterprise Institute, 1977).
Stanley I. Ornstein, Industrial Concentration and Advertising Intensity (Washington, D.C.: American Enterprise Institute, 1977).
E. Woodrow Eckard, Jr., "Advertising, Concentration Changes, and Consumer Welfare," Review of Economics and Statistics, Vol. LXX, No. 2 (May 1988), pp. 340-43.
S. J. Liebowitz, "What Do Census Price-Cost Margins Measure?" Journal of Law & Economics, Vol. XXV, No. 2 (October 1982), pp. 231-46.
Franklin M. Fisher and John J. McGowan, "On the Misuse of Accounting Rates of Return to Infer Monopoly Profits," American Economic Review, Vol. 73, No. 1 (March 1983), pp. 82-97.
Stephen Martin, "The Measurement of Profitability and the Diagnosis of Market Power," International Journal of Industrial Organization, Vol. 6, No. 3 (September 1988), pp. 301-22.
Craig M. Newmark, "Administrative Control, Buyer Concentration, and Price-Cost Margins," Review of Economics and Statistics, Vol. LXXI, No. 1 (February 1989), pp. 74-79.
John T. Scott and George Pascoe, "Beyond Firm and Industry Effects on Profitability in Imperfect Markets," Review of Economics and Statistics, Vol. LXVIII, No. 2 (May 1986), pp. 284-92.
J. A. Kay, "Assessing Market Dominance Using Accounting Rates of Profit," in Donald Hay and John Vickers, The Economics of Market Dominance (Oxford: Basil Blackwell, 1987), Chap. 5, pp. 129-142.
Ian Domowitz, R. Glenn Hubbard, and Bruce C. Petersen, "Market Structure and Cyclical Fluctuations in U.S. Manufacturing," Review of Economics and Statistics, Vol. LXX, No. 1 (February 1988), pp. 55-66.
William P. Rogerson, "The Dissipation of Profits by Brand Name Investment and Entry When Price Guarantees Quality," Journal of Political Economy Vol. 95, No. 4 (August 1987), pp. 797-809.
Val Eugene Lambson, "Is the Concentration-Profit Correlation Partly an Artifact of Lumpy Technology," American Economic Review, Vol. 77, No. 4 (September 1987), pp. 724-30.
Stephen Martin, "Market Power and/or Efficiency," Review of Economics and Statistics, Vol. LXX, No. 2 (May 1988), pp. 331-35.
John S. Cubbin, Market Structure and Performance--The Empirical Research (Chur: Harwood Academic Publishers, 1988).
B. Welfare Costs of Monopoly
F.M. Scherer and David Ross, "Market Structure and Performance: Overall
Appraisal," Chapter 18, Industrial Structure and Economic Performance
(Boston: Houghton Mifflin,
1990).
Arnold Harberger, "Monopoly and Resource Alllocation," American Economic Review, Vol. 44, No. 2 (May 1954), pp. 77-87.
D.R. Kamerschen, "An Estimation of Welfare Loss from Monopoly in the American Economy," Western Economic Journal, Vol. 4, No. 3 (1966), pp. 221-236.
Keith Cowling and Dennis C. Mueller, "The Social Cost of Monopoly Power," Economic Journal, Vol. 88 (1978), pp. 727-747.
Keith Cowling and Dennins C. Mueller, "The Social Cost of Monopoly Revisited," Economic Journal, Vol. 91 (1981), pp. 721-25.
D.L. Bumpass, "Welfare Loss Due to Monopoly Power," Industrial Organization Review, Vol. 7 (1979), pp. 34-60.
Harvey Leibenstein, "Allocative Efficiency vs. X-Efficiency," American Economic Review, Vol. 56 (June 1966), pp. 392-415.
Richard Posner, ""The Social Cost of Monopoly and Regulation," Journal of Political Economy, Vol. 83 (1975), pp. 807-27.
Franklin M. Fisher, "The Social Costs of Monopoly and Regulation: Posner Reconsidered," Journal of Political Economy, Vol. 93 (April 1985), pp. 410-16.
John T. Wenders, "On Perfect Rent Dissipation," American Economic Review, Vol. 77 (June 1987), pp. 456-59.
D.A. Worcester, Jr., "New Estimates of the Welfare Loss to Monopoly," Southern Economic Journal, Vol. 40, No. 2 (1973), pp. 234-69.
K. Cowling and D. Mueller, "The Social Costs of Monopoly Power, Economic Journal, Vol. 88, No. 352 (December 1978), pp. 727-47.
C.B. Hefford and D.K. Round, "The Welfare Cost of Monopoly in Australia," Southern Economic Journal, Vol. 44, No. 4 (1978), pp. 846-60.
F. Jenny and A-P Weber, "Aggregate Welfare Loss Due to Monopoly Power in the French Economy: Some Tenative Estimates," Journal of Industrial Economics, Vol. 32, No. 2 (1983), pp. 113-30.
J.C.H. Jones and L. Laudadio, "The Empirical Basis of Canadian Antitrust Policy: Resource Allocation and Welfare Losses in Canadian Industry," Industrial Organization Review, Vol. 6, No. 1 (1978), pp. 356-68.
V.A. Dickson and Weiqiu Yu, "Welfare Losses in Canadian Manufacturing Under Alternative Oligopoly Regimes," International Journal of Industrial Organization, Vol. 7, No. 2 (June 1989), pp. 257-68.
M.C. Sawyer, "Monopoly Welfare Loss in the United Kingdom," Manchester School of Economics and Social Studies, Vol. 48, No. 4 (1980), pp. 331-54.
K. Shinjo and N. Doi, "Welfare Loss and Market Structure in Japanese Manufacturing Industry," Sanken Roushu, Vol. 16 (1987), pp. 1-15.
Koji Shingo and Noriyuki Doi, "Welfare Loss Calculation for Japanese Industries," International Journal of Industrial Organization, Vol. 7, No. 2 (June 1989), pp. 243-56.
R.M. Parish and Y.K. Ng, "Monopoly, X-efficiency and the Measurement of Welfare Loss," Economica, Vol. 39 (1972), pp. 301-8.
Thomas S. Friedland, "The Estimation of Welfare Gains from Demonopolization," Southern Economic Journal, Vol. 45 (July 1978), pp. 116-23.
C. Price Rigidity
Gardiner Means, "Industrial Prices and Their Relative Inflexibility," U.S. Senate Document 13, 74th Congress, 1st Session, Washington, 1935.
Paul M. Sweezy, "Demand Under Conditions of Oligopoly," Journal of Political Economy, Vol. XLVII (1939), pp. 568-73.
George J. Stigler, "The Kinky Oligopoly Demand Curve and Rigid Prices," Journal of Political Economy, Vol. LV (October 1947), pp. 432-49.
Micha Gisser, "Price Leadership and Welfare Losses in U.S. Manufacturing," American Economic Review, Vol. 76, No. 4 (Sept. 1986) pp. 756-67.
Dennis W. Carlton, "The Rigidity of Prices," American Economic Review, Vol. 76, No. 4 (September 1986), pp. 637-58.
Julio J. Rotenberg and Garth Saloner, "The Relative Rigidity of Monopoly Pricing," American Economic Review, Vol. 77, No. 5 (December 1987), pp. 917-26.
V. Bhaskar, "The Kinked Demand Curve: A Game-Theoretic Approach," International Journal of Industrial Organization, Vol. 6, No. 3 (September 1988), pp. 373-84.
F.M. Scherer, "Market Structure, Administered Prices, and Macroeconomic Stability," Chapter 13, Industrial Market Structure and Economic Performance (Boston: Houghton Mifflin, 1980).
Willard F. Mueller, "Industrial Concentration: An Important Inflationary Force?" and J. Fred Weston and Steven Lustgarten, "Concentration and Wage-Price Change," in Harvey J. Goldschmid, H. Michael Mann, and J. Fred Weston, Industrial Concentration: The New Learning (Boston: Little, Brown and Co., 1974), Chap. 6, pp. 278-338.
Steven Lustgarten, Productivity and Prices: The Consequences of Industrial Concentration (Washington, D.C.: American Enterprise Institute, 1984).
George J. Stigler and James K. Kindahl, The Behavior of Industrial Prices (New York: National Bureau of Economic Research, 1970).
Walter J. Primeaux, Jr. and Mark R. Bomball, "A Reexamination of the Kinky Oligopoly Demand Curve," Journal of Political Economy, Vol. 82 (August 1974), pp. 851-62.
Walter J. Primeaux, Jr. and Mickey C. Smith, "Pricing Patterns and the Kinky Demand Curve," Journal of Law and Economics, Vol. 19 (April 1976), pp. 289-308.
George Stigler, "The Literature of Economics: The Case of the Kinked Demand Curve," Economic Inquiry, Vol. 16, No. 2 (April 1978), pp. 185-204.
D. Equity
William S. Comanor and Robert H. Smiley, "Monopoly and the Distribution of Wealth," Review of Economics and Statistics, Vol. 89, No. 2 (May 1975), pp. 177-94.
Irene Powell, "The Effect of Reductions in Concentration on Income Distribution," Review of Economics and Statistics, Vol. LXIX, No. 1 (February 1987), pp. 75-82.
E. Progress
F.M.Scherer and David Ross, "Market Structure, Patents, and Technological Innovation," Chapter 17 Market Structure and Economcic Performance (Boston: Houghton Mifflin, 1990).
Mark Dodgson and Roy Rothwell, The Handbook of Industrial Innovation (Edward Elgar Publishing Co.: 1995).
Dennis W. Carlton and Jeffrey M. Perloff, "Patents and Technological Change," Chapter 20, Modern Industrial Organization (Glenview, Illinois: Scott Foresman/Little Brown, 1990).
Giovanni Dosi, "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, Vol. XXVI, No. 3 (September 1988), pp. 1120-30.
Christopher Freeman, The Economics of Industrial Innovation, Second Edition (Cambridge: MIT Press, 1986).
Joseph A. Schumpeter, Capitalism, Socialism, and Democracy, 3rd ed. (New York: Harper, 1950).
Jacob Schmookler, Invention and Economic Growth (Cambridge: Harvard University Press, 1966).
Colin G. Thirtle and Vernon W. Ruttan, The Role of Demand and Supply in the Generation and Diffusion of Technical Change (Chur: Harwood Academic Press, 1987).
Richard R. Nelson and Sidney G. Winter, An Evolutionary Theory of Economic Change (Cambridge, Mass.: Harvard University Press, 1982).
Jesse W. Markham, "Concentration: A Stimulus or Retardant to Innovation?" in Harvey J. Goldschmid, H. Michael Mann, J. Fred Weston, Industrial Concentration: The New Learning (Boston: Little, Brown and Co., 1974), pp. 246-277.
Michael Waterson, "Technical Change and Market Structure," in Economic Theory of the Industry (Cambridge: Cambridge University Press, 1984), Chapter 8, pp. 142-165.
Zoltan J. Acs and David Audretsch, "Innovation, Market Structure, and Firm Size," Review of Economics and Statistics, Vol. 69 (November 1987), pp. 567-75.
Zolton J. Acs and David B. Audretsch, "Innovation, Market Structure, and Firm Size," Review of Economics and Statistics, Vol. 69, No. 4 (1987), pp. 567-74.
Zoltan J. Acs and David B. Audretsch, "Innovation in Large and Small Firms: An Empirical Analysis," American Economic Review, Vol. 78, No. 4 (September 1988).
Jeffrey I. Bernstein and M. Ishaq Nadiri, "Interindustry R&D Spillovers, Rates of Return, and Production in High-Tech Industries," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 429-34.
John Bound, Clint Cummins, Zvi Griliches, Bronwyn H. Hall and Adam Jaffe, "Who Does R&D and Who Patents?" in Zvi Griliches, ed., R&D, Patents, and Productivity (Chicago: University of Chicago Press, 1984), pp. 21-54.
Richard E. Caves and Thomas A. Pugel, Intraindustry Differences in Conduct and Performance: Viable Strategies in U.S. Manufacturing (New York: New York University Press, 1980).
Iain Cockburn and Zvi Griliches, "Industry Effects and Appropriability Measures in the Stock Market's Valuation of R&D and Patents," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 419-23.
William S. Comanor, "Market Structure, Product Differentiation, and Industrial Research," Quarterly Journal of Economics, Vol. 81 (November 1967), pp. 639-57.
Partha Dasgupta and Joseph Stiglitz, "Industrial Structure and the Nature of Innovative Activity," Economic Journal, Vol. 90 (June 1980), pp. 266-93.
Avinash Dixit, "A General Model of R&D Competition and Policy," Rand Journal of Economics, Vol. 19, No. 3 (Autumn 1988), pp. 317-26.
Lawrence M. DeBrock, "Market Structure, Innovation, and Optimal Patent Life," Journal of Law & Economics, Vol. XXVIII, No. 1 (April 1985).
Michael Waterson, "The Economics of Product Patents," American Economic Review, Vol. 80, No. 4 (September 1990), pp. 860-69.
Keith L. Edwards and Theodore J. Gordon, "Characterization of Innovations Introduced on the U.S. Market in 1982," The Futures Group, U.S. Small Business Administration, Contract No. SBA-6050-0A-82, March 1984.
Robert E. Evenson, "International Invention: Implications for Technology Market Analysis," in Avi Griliches, ed., R&D, Patents, and Productivity (Chicago: University of Chicago Press, 1984), pp. 55-70.
Henry Grabowski and John M. Vernon, "Pioneers, Imitators, and Generics--A Simulation Model of Schumpeterian Competition," Quarterly Journal of Economics, Vol. CII, No. 3 (August 1987), pp.491-526.
Zvi Griliches, "Productivity, R&D, and Basic Research at the Firm Level in the 1970's," American Economic Review, Vol. 76 (March 1986), pp. 141-54.
Zvi Griliches, R&D, Patents, and Productivity, National Bureau of Economic Research Conference Report (Chicago: University of Chicago Press, 1984).
Adam B. Jaffe, "Technological Opportunity and Spillovers of R&D: Evidence from Firms'Patents, Profits, and Market Value," American Economic Review, Vol. 76 (December 1986), pp. 984-1001.
Dale W. Jorgenson, "Productivity and Economic Growth in Japan and the United States," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 217-22.
Morton I. Kamien and Nancy L. Schwartz, "Market Structure and Innovation: A Survey," Journal of Economic Literature, Vol. 13 (March 1975), pp. 1-37.
Morton I. Kamien and Nancy L. Schwartz, Market Structure and Innovation, (Cambridge: Cambridge University Press, 1982).
John W. Kendrick, Interindustry Differences in Productivity Growth (Washington, D.C.: American Enterprise Institute, 1983).
Simon Kuznets, "Inventive Activity: Problems of Definition and Measurement," in R. R. Nelson, The Rate of Direction of Inventive Activity (Princeton: Princeton University Press, 1962) pp. 19-43.
R. R. Nelson, The Rate of Direction of Inventive Activity (Princeton: Princeton University Press, 1962)
Richard C. Levin, Welsley M. Cohen and David C. Mowery, "R&D Appropriability, Opportunity, and Market Structure: New Evidence on Some Schumpeterian Hypotheses," American Economic Review, Vol. 75 (May 1985), pp. 20-24.
Richard C. Levin and Peter C. Reiss, "Tests of a Schumpeterian Model of R&D and Market Structure," in Avi Griliches, ed., R&D, Patents, and Productivity (Chicago: University of Chicago Press, 1984), pp. 462-64.
Richard R. Nelson, "Modelling the Connections in the Cross Section between Technical Progress and R&D Intensity," Rand Journal of Economics, Volume 19, No. 3 (Autumn 1988), pp. 478-85.
Richard C. Levin, "Appropriability, R&D Spending, and Technological Performance," American Economic Review, Vol. 78, No. 2 (May 1988), 424-28.
Richard C. Levin, Alvin K. Klevorick, Richard R. Nelson, and Sidney G. Winter, "Appropriating the Returns from Industrial Research and Development," Brookings Papers on Economic Activity 1987:3, pp. 783-832.
Jerry A. Hausman and Jeffrey K. MacKie-Mason, "Price Discrimination an Patent Policy," Rand Journal of Economics, Vol. 19, No. 2 (Summer 1988), pp. 253-65.
Frank R. Lichtenberg, "The Private R&D Investment Response to Federal Design and Technical Competitions," American Economic Review, Vol. 78, No. 3 (June 1988), pp. 550-59,
Edwin Mansfield, "Industrial R&D in Japan and the United States: A Comparative Study," American Economic Review, Vol. 78, No. 2 (May 1988), 223-28.
Edwin Mansfield, "Comment on Using Linked Patent and R&D Data to Measure Interindustry Technology Flows," in Zvi Griliches, ed., R&D, Patents, and Productivity (Chicago: University of Chicago Press, 1984), pp. 175-204.
Edwin Mansfield, "Composition of R and D Expenditures: Relationship to Size of Firm, Concentration, and Innovative Output," Review of Economics and Statistics, Vol. 63 (November 1981), pp. 610-15.
Ariel Pakes, "On Patents, R&D, and the Stock Market Rate of Return," Journal of Political Economy, Vol. 93 (April 1985), pp. 390-409.
Ariel Pakes and Zvi Griliches, "Patents and R&D at the Firm Level: A First Look," in Zvi Griliches, ed., R&D, Patents, and Productivity (Chicago: University of Chicago Press, 1984), pp. 55-70.
Ariel Pakes and Mark Schankerman, "The Rate of Obsolescence of Patents, Research Gestation Lags, and the Private Rate of Return to Research Resources," in Zvi Griliches, ed., R&D, Patents, and Productivity (Chicago: University of Chicago Press, 1984), pp. 73-88.
Zvi Griliches, "Patent Statistics as Economic Indicators: A Survey," Journal of Economic Literature, Volume 38, No. 4 (December 1990), pp. 1661-1707.
Erich Kaufer, The Economics of the Patent System (Chur: Harwood Academic Publishers, 1989).
Gerhard Rosegger, The Economics of Production and Innovation: An Industrial Perspective (Oxford: Pergamon Press, 1986).
Nathan Rosenberg and W. Edwared Steinmueller, "Why Are Americans Such Poor Imitators," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 229-34.
F.M. Scherer, Innovation and Growth (Cambridge: MIT Press, 1986).
Albert N. Link, Technological Change and Productivity Growth (Chur: Harwood Academic Publishers, 1987).
F.M. Scherer, "The Propensity to Patent," International Journal of Industrial Organization, Vol. 1 (1983), pp. 107-28.
F.M. Scherer, "Inter-Industry Technology Flows and Productivity Growth," Review of Economics and Statistics, Vol. 64 (December 1982), pp. 627-34.
F.M. Scherer, "Market Structure and the Employment of Scientists and Engineers," American Economic Review, Vol. 27 (June 1967), pp. 524-30.
F.M. Scherer, "Firm Size, Market Structure, Opportunity, and the Output of Patented Inventions," American Economic Review, Vol. 55 (December 1965), pp. 1097-125.
William L. Baldwin and John T. Scott, Market Structure and Technological Change (Chur: Harwood Academic Publishers, 1987).
Jacob Schmookler, Invention and Economic Growth (Cambridge: Harvard University Press, 1966).
Joseph Schumpeter, The Theory of Economic Development (Cambridge: Harvard University Press, 1934).
Sidney G. Winter, "Schumpeterian Competition in Alternative Technological Regimes," Journal of Economic Behavior and Organization, Vol. 5 (September-December 1984), pp. 287-320.
Jennifer F. Reinganum, "The Timing of Innovation: Research, Development, and Diffusion," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 850-908.
Wesley M. Cohen and Richard C. Levin, "Empirical Studies of Innovation and Market Structure," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1059-1107.
Thomas M. Jorde and David J. Teece, Antitrust, Innovation and Competitiveness (New York: Oxford University Press, 1991).
Michael Porter, The Competitive Advantage of Nations (New York).
V. EXPERIMENTAL ECONOMICS
Charles R. Plott, "Industrial Organization Theory and Experimental Economics," Journal of Economic Literature, Vol. XX, No. 4 (December 1982), pp. 1485-1527.
Alvin E. Roth, "Laboratory Experimentation in Economics: A Methodological Overview," Economic Journal, Vol. 98, No. 393 (December 1988), pp. 974-1031.
Jeffrey S. Banks, John O. Ledyard, and David P. Porter, "Allocating Uncertain and Unresponsive Resources: An Experimental Approach," Rand Journal of Economics, Vol. 20, No. 1 (Spring 1989), pp. 1-25.
Charles Plott, "An Updated Review of Industrial Organization Applications of Experimental Methods," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1111-76.
VI. INTERNATIONAL PERSPECTIVES
Dennis W. Carlton and Jeffrey M. Perloff, Chapter 18, "International Trade," Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
Paul R. Krugman, "Industrial Organization and International Trade," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1180-1223.
Richard E. Caves, "International Differences in Industrial Organization," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1225-50.
Michael E. Porter, The Competitive Advantage of
Nations (New York: The Free Press, 1990).
VII. PUBLIC POLICY TOWARD BUSINESS: ANTITRUST
Dennis W. Carlton and Jeffrey M. Perloff, Chapter 19, "Antitrust Laws and Policy," Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
F.M. Scherer and David Ross, "Antitrust Policies Toward Price-fixing Arrangements," Chapter 9; "Antitrust Policy Toward Market Structures," Chapter 12; "Vertical Restraints: Law and Economics," Chapter 14, Industrial Market Structure and Economic Performance (Boston: Houghton Mifflin, 1990).
John H. Shenefield and Irwin M. Stelzer, The Antitrust Laws: A Primer (Washington, D.C.: The A.E.I. Press, 1993).
W. Kip Viscusi,John M. Vernon, and Joseph E. Harrington, Economics of Regulation and Antitrust, second edition (Cambridge, Mass.: MIT Press, 1995).
Corwin D. Edwards, Maintaining Competition: Requisites of a Government (New York: McGraw-Hill, 1949).
Alfred E. Kahn, "Standards for Antitrust Policy," Harvard Law Review, Vol. LXVII (1953), pp. 28-54.
Lawrence Anthony Sullivan, Antitrust (St. Paul: West Publishing Co., 1977).
ABA Antitrust Section, Antitrust Law Developments (American Bar Association, Second edition, 1984); and second supplement, 1983-1988.
Ernest Gellhorn, Antitrust (St. Paul: West Publishing Co., 1977).
A. D. Neale and D. G. Goyder, The Antitrust Laws of the U.S.A.: A Study of Competition Enforced by Law (Cambridge: Cambridge University Press, 1980).
Terry Calvani and John Siegfried, Economic Analysis and Antitrust Law (Boston: Little, Brown, 1979).
Eugene M. Singer, Antitrust Economics and Legal Analysis (Columbus, Ohio: Grid Publishing, 1981).
William E. Kovacic, "Illegal Agreements With Competitors," Antitrust Law Journal, Volume 57, No. 2 (1988), pp. 517-41.
James A. Ordover and Daniel M. Wall, "Proving Entry Barriers: A Practical Guide to the Economics of New Entry," Antitrust, Vol. 2, No. 2 (Winter 1988), pp. 12-17.
William B. Slowey, "Dealer Complaints and the Rule of Reason," Antitrust, Vol. 2, No. 1 (Fall 1987), pp. 14-21.
L. Peter Farcas, "Erosion of the Per Se Rule: Trend in the Law of Horizontal Restraints," Antitrust, Vol. 2, No. 1 (Fall 1987), pp. 22-25.
Ky P. Ewing, Jr., "Antitrust in the 100th Congress: Issues, Rhetoric, Reality," Antitrust, Vol. 1, No. 2 (Winter 1987), pp. 33-37.
Irwin M. Stelzer, Selected Antitrust Cases: Landmark Decisions, seventh edition (Homewood, Illinois: Irwin, 1986).
Robert H. Bork, The Antitrust Paradox (New York: Basic Books, 1978).
Richard A. Posner, Antitrust Law: An Economic Perspective (Chicago: University of Chicago Press, 1976.
Roger L. Faith, Donald R. Leavens, and Robert D. Tollison, "Antitrust Pork Barrel," Journal of Law & Economics, Vol. XXV, No. 2 (October 1982), pp. 329-42.
Thomas W. Dunfee and Frank F. Gibson, Legal Aspects of Government Regulation of Business, Third Edition (New York: John Wiley and Sons, 1984).
Thomas Gale Moore et alia, "Antitrust and Economic Efficiency: A Conference Sponsored by the Hoover Institution," Journal of Law & Economics, Vol. XXVIII, No. 2 (May 1985).
Harlan M. Blake, "Legislative Proposals for Industrial Concentration;" Walter Adams, "Corporate Power and Economic Apologetics;" Phil Caldwell Neal, "On Implementing a Policy of Deconcentration;" and Almarin Phillips, "Industrial Concentration and Public Policy: A Middle Ground," in Harvey J. Goldschmid, H. Michael Mann, and J. Fred Weston, Industrial Concentration: The New Learning (Boston: Little, Brown and Co., 1974).
Steven C. Salop et alia., "Symposia on Horizontal Mergers and Antitrust," in Journal of Economic Perspectives, Vol. 1, No. 2 (Fall 1987), pp. 3-54.
Janusz A. Ordover and Daniel M. Wall, "What the `New Learning' Has to Offer," Antitrust, Vol. 1, No. 3 (Summer 1987), pp. 5-11.
Michael L. Denger , "Developments In Antitrust: 1986-87," Antitrust Law Journal, Vol. 56, No. 2 (1987), 285-82.
Mark A. Cohen, "The Role of Criminal Sanctions in Antitrust Enforcement," Contemporary Policy Issues, Vol. VII, No. 4 (October 1989), pp. 36-46.
David Besanko and Daniel F. Spulber, American Economic Review, Vol. 80, No. 4 (September 1990), pp. 870-87.
John DeQ. Briggs, "An Overview of Current Law and Policy Relating to Mergers and Acquisitions," Antitrust Law Journal, Vol. 56, No. 3 (1987), pp. 657-74.
Jon M. Joyce, "Effect of Firm Organizational Structure on Incentives to Engage in Price Fixing," Contemporary Policy Issues, Vol. VII, No. 4 (October 1989),pp. 19-35.
Eleanor M. Fox, "Antitrust, Economics, and Bias," Antitrust, Vol. 2, No. 2 (Winter 1988), pp. 6-11.
David Besanko and Daniel F. Spulber, "Antitrust Enforcement Under Asymmetric Information," Economic Journal, Vol. 99, No. 396 (June 1989), (June 1989), pp. 408-25.
Edward A. Snyder, "New Insights into the Decline of Antitrust Enforcement," Contemporary Policy Issues, Vol. VII, No. 4 (October 1989), pp. 1-18.
William E. Kovacic, "Congress and the Federal Trade Commission," Antitrust Law Journal, Vol. 57, No. 3 (1988), pp. 869-905.
William E. Kovacic, "Public Choice and the Public Interest: Federal Trade Commission Antitrust Enforcement During the Reagan Administrtion," The Antitrust Bulletin, Vol. XXXIII, No. 3 (Fall 1988), pp. 467-504.
William E. Kovacic, "Failed Expectations: The Troubled and Uncertain Future of the Sherman Act as a Tool for Deconcentration," Iowa Law Review (1989).
Edward A. Snyder, "New Insights into the Decline of Antitrust Enforcement," Contemporary Policy Issues, Vol. 7, No. 4 (October 1989), pp. 1-18.
Thomas M. Jorde and David J. Teece, "Innovation and Cooperation: Implications for Competition and Antitrust," The Journal of Economic Perspectives, Vol. 4, No. 3 (Summer 1990), pp. 75-96.
Joseph F. Brodley, "Antitrust Law and Innovation," The Journal of Economic Perspectives, Vol. 4, No. 3 (Summer 1990), pp. 97-112.
Carl Shapiro and Robert D. Willig, On the Antitrust Treatment of Production Join Ventures," The Journal of Economic Perspectives, Vol. 4, No. 3 (Summer 1990), pp. 113-130.
Donald I. Baker et alia, "The Direction of Antitrust in the Decade Ahead: Some Predictions," Antitrust Law Journal, Vol. 57, No. 1 (1988), pp. 31-104.
Irving Scher, "The Major Antitrust Issues in the Decade Ahead," Antitrust Law Journal, Vol. 58, No. 1 (1989), pp. 181-96.
Daniel F. Spulber, Part IV, "Antitrust: Efficiency and Competition," Regulation and Markets (Cambridge, Mass.: MIT Press, 1989), Chap. 16, "Antitrust Law and Regulation,"; Chap. 17, "Antitrust and Competition,"; Chap. 18, "Antitrust and Price Discrimination,"; Chap. 19, "Antitrust Enforcement."
Ira M. Millstein et al., "Report of the ABA Antitrust Section Task Force on the Antitrust Division of the U.S. Department of Justice," Antitrust Law Journal, Vol. 58, No. 3, pp. 737-94.
Herbert Hovenkamp et al., "The Sherman Act: The First Century," Antitrust Law Journal, Vol. 59, No. 1 (Spring Meeting 1990), pp. 71-138.
Phillip Areeda et al., "The Sherman Act: The
Second Century," Antitrust Law Journal, Vol. 59, No. 1 (Spring Meeting
1990), pp. 139-90.
VIII. PUBLIC POLICY TOWARD BUSINESS: REGULATION AND DEREGULATION
Dennis W. Carlton and Jeffrey M. Perloff, Chapter 20, "Regulation and Deregulation," Modern Industrial Organization (Reading, Mass.: Addison-Wesley, 2000.)
Alfred E. Kahn, The Economics of Regulation: Principles and Institutions, Vol. I and Vol. II (New York: John Wiley and Sons, 1970).
H. Averech and L.L. Johnson, "Behavior of the Firm Under Regulatory Constraint," American Economic Review, Vol. 52 (December 1962), pp. 1053-69.
George T. Stigler, The Theory of Economic Regulation," Bell Journal of Economics and Management Science, Vol. 2, No. 1 (Spring 1971), pp. 3-21.
Ronald R. Braeutigam, "Optimal Policies for Natural Monopolies," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1290-46.
Donald P. Jacobs, editor, Regulating Business: The Search for An Optimum (San Francisco: Institute for Contemporary Studies, 1978).
Barry M. Mitnick, The Political Economy of Regulation: Creating, Designing, and Removing Regulatory Forms (New York: Columbia University Press, 1980).
Timothy B. Clar, Marvin H. Kosters, and James C. Miller III, Reforming Regulation (Washington, D.C.: American Enterprise Institute, 1980).
Thomas K. McCraw, editor, Regulation in Perspective: Historical Essays (Cambridge, Mass.: Harvard Business School, 1981).
Stephen Breyer, Regulation and Its Reform (Cambridge: Harvard University Press, 1982).
Murray L. Weidenbaum, The Future of Business Regulation (New York: Amacom, 1979).
Michael D. Reagan, Regulation: The Politics of Policy (Boston: Little, Brown and Company, 1987).
Roger Sherman, The Regulation of Monopoly (Cambridge: Cambridge University Press, 1989).
Daniel F. Spulber, Regulation and Markets (Boston: MIT Press, 1989).
David Besanko and David E.M. Sappington, Designing Regulatory Policy with Limited Information (Chur: Harwood Academic Publishers, 1987).
David P. Baron, "Design of Regulatory Mechanisms and Institutions," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1347-1447.
Paul L. Joskow and Nancy L. Rose, "The Effects of Economic Regulation," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1448-1506.
Michael E. Levine and Jennifer L. Forrence, "Regulatory Capture, Public Interest, and the Public Agenda: Toward a Synthesis," Journal of Law, Economics, and Organization, Vol. 6, Special Issue, 1990, pp. 167-198.
Charles D. Kolstad, Thomas S. Ulen, and Gary V. Johnson, "Ex Post Liability for Harm vs. Ex Ante Safety Regulation: Substitutes or Complements," American Economic Review, Vol. 80, No. 4 (September 1990), pp. 888-901.
Richard A. Posner, Regulation of Advertising by the FTC (Washington, D.C.: American Enterprise Institute, 1973).
Howard K. Gruenspecht and Lester B. Lave, "The Economics of Health, Safety, and Environmental Regulation," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989)
Sam Peltzman, Regulation of Pharmaceutical Innovation: The 1962 Amendments (Washington, D.C.: American Enterprise Institute, 1974).
William M. Wardell and Louis Lasagna, Regulation and Drug Enforcement (Washington, D.C.: American Enterprise Institute, 1975).
Henry Grabowski, Drug Regulation and Innovation: Empirical Evidence and Policy Options (Washington, D.C.: American Enterprise Institute, 1976).
John F. Cady, Restricted Advertising and Competition of Drugs (Washington, D.C.: American Enterprise Institute, 1976).
Henry Grabowski and John M. Vernon, The Regulation of Pharmaceuticals: Balancing the Benefits and Risks (Washington, D.C.: American Enterprise Institute, 1983).
Roger G. Noll and Bruce M. Owen, The Political Economy of Deregulation: Interest Groups in the Regulatory Process (Washington, D.C.: American Enterprise Institute. 1983).
Roger G. Noll, "Economic Perspectives on the Politics of Regulation," in Richard Schmalensee and Robert Willig, editors, Handbook of Industrial Organization (Amsterdam, North-Holland, 1989), pp. 1254-87.
Michael D. Reagan, Regulation: The Politics of Policy (Boston, Mass.: Little, Brown and Company, 1987).
Moshie Kim, "The Beneficiaries of Trucking Regulation, Revisited," Journal of Law & Economics, Vol. XXVII, No. 1 (April 1984), pp. 227-41.
Paul W. MacAvoy, editor, Federal Energy Administration (Washington, D.C.: American Enterprise Institute, 1977).
Stephen F. Williams, The Natural Gas Revolution of 1985 (Washington, D.C.: American Enterprise Institute, 1986).
Paul W. MacAvoy, Federal-State Regulation of the Pricing and Marketing of Insurance (Washington, D.C.: American Enterprise Institute, 1977).
Paul W. MacAvoy and John W. Snow, Regulation of Passenger Fares and Competiton Among the Airlines (Washington, D.C.: American Enterprise Institute, 1977).
Alfred E. Kahn, "Surprises of Airline Deregulation," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 316-22.
Robert W. Crandell, "Surprises from Telephone Deregulation and the AT&T Divesture," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 323-27.
Steve Coll, The Deal of the Century: The Breakup of AT&T (New York: Atheneum, 1986).
Richard Thomas DeLamarter, Big Blue: IBM's Use and Abuse of Power (Dodd, Mead, 1986).
Edward J. Mitchell, editor, The Deregulation of Natural Gas (Washington, D.C.: American Enterprise Institute, 1983).
Edward J. Kane, "Interaction of Financial and Regulatory Innovation," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 328-34.
Michael S. Knoll, "Uncertainty, Efficiency, and the Brokerage Industry," Journal of Law & Economics, Vol. XXXI, No. 1 (April 1988), pp. 249-63.
W. Kip Viscusi, Regulating Consumer Product Safety (Washington, D.C.: American Enterprise Institute, 1984).
W. Kip Viscusi, "Product Liability and Regulation: Establishing the Appropriate Institutional Division of Labor," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 300-04.
Patricia M. Danzon, "The Political Economy of Workers' Compensation: Lessons for Product Liability," American Economic Review, Vol. 305-10.
Richard A. Epstein, "The Political Economy of Product Liability Reform," American Economic Review, Vol. 78, No. 2 (May 1988), pp. 311-15.
Daniel F. Spulber, Part III, "Administrative Regulation of Markets, Regulation and Markets (Cambridge, Mass.: MIT Press, 1989), Chap. 10, "Barriers to Entry 1: Rate Regulation and Bargaining,"; Chap. 11, "Barriers to Entry 2: Rate Regulation and Bargaining under Asymmetric Information,"; Chap. 12, "Externalities 1: Bargaining,"; Chap. 13, "Externalities 2: Policy Implementation,"; Chap. 14, "Internalities 1: Regulation and Liability,"; Chap 15, "Internalities 2: Risk and Asymmetric Information,".
Clifford Winston, "Economic Deregulation: Days of Reckoning for Microeconomists," Journal of Economic Literature, Vol. XXXI, No. 3 (September 1993), pp. 1263-1289.
IX. INDUSTRY STUDIES
Walter Adams, The Structure of American Industry, eighth edition (New York:
Macmillan Publishing Co., 1990) Chapter 1, Donald B. Suits,
"Agriculture"; Chapter 2, Stephen Martin, "The Petroleum
Industry"; Chapter 3, Walter Adams and Hans Mueller, "The Steel
Industry"; Chapter 4, Walter Adams and James W. Brock, "The
Automobile Industry";
Chapter 5, Kenneth G. Elzinga, "The Beer
Industry"; Chapter 6, Gerald W. Brock, "The Computer Industry";
Chapter 7, Barry R. Litman, "The Motion Picture
Entertainment Industry"; Chapter 8, William G. Shepherd, "The Airline
Industry"; Chapter 9, Manley R. Irwin, "The Telecommunications
Industry"; Chapter 10, Arnold A. Heggestad,
"The Banking Industry"; Chapter 11, William B. Burnett and Frederic
M. Scherer, "The Weapons Industry"; Chapter 12, Willare
F. Mueller, "Conglomerates: A Nonindustry";
Chapter 13, Walter Adams, "Public Policy in a Free Enterprise
Economy." Previous editions contain essays on other industries.
