Economics of Regulation and Antitrust / Edition 4

Economics of Regulation and Antitrust / Edition 4

by W. Kip Viscusi, John M. Vernon, Joseph E. Harrington Jr., Joseph Emmett Harrington
     
 

ISBN-10: 026222075X

ISBN-13: 9780262220750

Pub. Date: 09/01/2005

Publisher: MIT Press

This new edition of the leading text on business and government focuses on the insights economic reasoning can provide in analyzing regulatory and antitrust issues. Departing from the traditional emphasis on institutions, Economics of Regulation and Antitrust asks how economic theory and empirical analyses can illuminate the character of market operation and the

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Overview

This new edition of the leading text on business and government focuses on the insights economic reasoning can provide in analyzing regulatory and antitrust issues. Departing from the traditional emphasis on institutions, Economics of Regulation and Antitrust asks how economic theory and empirical analyses can illuminate the character of market operation and the role for government action and brings new developments in theory and empirical methodology to bear on these questions.

The fourth edition has been substantially revised and updated throughout, with new material added and extended discussion of many topics.

Part I, on antitrust, has been given a major revision to reflect advances in economic theory and recent antitrust cases, including the case against Microsoft and the Supreme Court's Kodak decision. Part II, on economic regulation, updates its treatment of the restructuring and deregulation of the telecommunications and electric power industries, and includes an analysis of what went wrong in the California energy market in 2000 and 2001. Part III, on social regulation, now includes increased discussion of risk-risk analysis and extensive changes to its discussion of environmental regulation. The many case studies included provide students not only pertinent insights for today but also the economic tools to analyze the implications of regulations and antitrust policies in the future.The book is suitable for use in a wide range of courses in business, law, and public policy, for undergraduates as well at the graduate level. The structure of the book allows instructors to combine the chapters in various ways according to their needs.

Presentation of more advanced material is self-contained. Each chapter concludes with questions and problems.

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Product Details

ISBN-13:
9780262220750
Publisher:
MIT Press
Publication date:
09/01/2005
Edition description:
fourth edition
Pages:
960
Sales rank:
633,784
Product dimensions:
8.00(w) x 9.00(h) x 0.12(d)
Age Range:
18 Years

Table of Contents

Preface to the Third Edition
1Introduction1
Appendix11
2The Making of a Regulation13
AppTrends in Regulatory Agency Budgets and Staff48
3Introduction to Antitrust61
AppAntitrust Statutes72
4Efficiency and Technical Progress75
5Oligopoly, Collusion, and Antitrust97
App. A137
App. B138
6Market Structure and Strategic Competition143
7Mergers191
8Vertical Mergers and Restrictions219
9Monopolization and Price Discrimination257
10Introduction to Economic Regulation297
11Theory of Natural Monopoly337
12Natural Monopoly Regulation and Electric Power361
13Franchise Bidding and Cable Television395
14Public Enterprise433
15Dynamic Issues in Natural Monopoly Regulation: Telecommunications453
16The Regulation of Potentially Competitive Markets: Theory and Estimation Methods495
17Economic Regulation of Transportation: Surface Freight and Airlines529
18Economic Regulation of Energy: Crude Oil and Natural Gas585
19Introduction: The Emergence of Health, Safety, and Environmental Regulation637
20Valuing Life and Other Nonmonetary Benefits661
21Environmental Regulation687
22Product Safety725
23Regulation of Workplace Health and Safety761
24Patents and Pharmaceuticals799
Author Index837
Subject Index841

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