The Economics of Regulation and Antitrust / Edition 2

The Economics of Regulation and Antitrust / Edition 2

by W. Kip Viscusi
     
 

Departing from the traditional emphasis on institutions, this text emphasizes the use of economic theory and empirical analysis to understand regulatory and antitrust policies. Questions addressed include: What are the market failure rationales for, and appropriate form of, government intervention? What does theory show about competition in the presence of a… See more details below

Overview

Departing from the traditional emphasis on institutions, this text emphasizes the use of economic theory and empirical analysis to understand regulatory and antitrust policies. Questions addressed include: What are the market failure rationales for, and appropriate form of, government intervention? What does theory show about competition in the presence of a market failure and the implications of government intervention to correct that failure? What do empirical analyses indicate about our regulatory experience and the direction of future intervention?

The third edition addresses many issues that have recently dominated the economic and political landscape. New material reviews the government's case against Microsoft, charges of anticompetitive pricing in NASDAQ and airlines, the blocked Staples-Office Depot merger, and the Telecommunications Act of 1996. This edition also covers the deregulation of the California electric power industry as well as recent deregulatory efforts in bank branching and natural gas transmission. On the social regulatory scene, it covers in detail recent cigarette litigation and the contentious issue of the contingent valuation of natural resource damages, as exemplified in the Exxon Valdez oil spill. New empirical evidence appears throughout the book.

Each part of the text can be used separately for a variety of courses including regulation and antitrust in undergraduate institutions, business schools, and schools of public policy, as well as background for doctoral courses. Exercises are included at the end of each chapter.

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Product Details

ISBN-13:
9780262220491
Publisher:
MIT Press
Publication date:
11/28/1995
Edition description:
Older Edition
Pages:
918
Product dimensions:
7.35(w) x 10.33(h) x 2.28(d)

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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