Empirical Studies in Industrial Organization brings together leading scholars who present state-of-the-art research in the spirit of the structure-conduct-performance paradigm embodied in the work of Leonard W. Weiss. The individual chapters are generally empirically or public policy oriented. A number of them introduce new sources of data that, combined with the application of appropriate econometric techniques, enable new breakthroughs and insights on issues hotly debated in the industrial organization literature. For example, five of the chapters are devoted towards uncovering the link between market concentration and pricing behavior. While theoretical models have produced ambiguous predictions concerning the relationship between concentration and price these chapters, which span a number of different markets and situations, provide unequivocal evidence that a high level of market concentration tends to result in a higher level of prices. Three of the chapters explore the impact of market structure on production efficiency, and three other chapters focus on the role of industrial organization on public policy. Contributors include David B. Audretsch, Richard E. Caves, Mark J. Roberts, F.M. Scherer, John J. Siegfried and Hideki Yamawaki.
Table of ContentsOne Leonard Weiss' Contributions to Research in Industrial Organization.- Two Costs, Demand, and Imperfect Competition as Determinants of Plant-Level Output Prices.- Three The Functional Relationship Between Prices and Market Concentration: The Case of the Banking Industry.- Four The Effectiveness and Stability of Highway BidRigging.- Five Price Changes and Mergers in U.S. Manufacturing, 1985–1986.- Six Price Challges from 1958 to 1982.- Seven Problems in the Conceptualization of Markets for the Analysis of Competitive Pro ces ses.- Eight Predatory Pricing: Where Do We Stand?.- Nine Antitrust and the Political Process.- Ten Sub-Optimal Scale Plants and Compensating Factor Differentials in U.S. and Japanese Manufacturing.- Eleven Technical Inefficiency, Rent-Seeking and Excess Profits in U.S. Manufacturing Industries, 1977.- Twelve Productivity Changes in the U.S. Electric Power Industry.- Thirteen Ownership Structure and Profitability.- Fourteen Entry and Exit in Vnited States Manufacturing Industries from 1977 to 1982.- List of Contributors.