Economics of Regulation and Antitrust - 3rd Edition

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

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 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.

Genres: Economics, Textbooks

Hardcover

First published January 1, 1992

Reviews

[Sergey Kochergan · Rating 5 out of 5]

Huge volume of cases in business, economics and modern history of market development.

[Siv · Rating 3 out of 5]

Great explanations, but unfortunately even the newest version is outdated. Antitrust as a field has seen sweeping changes to regulation and legislature recently and there are a lot of assumptions made in this textbook that no longer hold. Technology and digital markets in particular have become the center of attention and unique market dynamics create a new set of circumstances that at times don't mesh well with existing knowledge. Still, this textbook does a really good job laying out the foundations of antitrust and regulation and I learned a lot by reading it.

3.5/5

[Autumn]

Super informative. Read it for my government regulation economics class. It actually gives really great explanations of econometric concepts and goes very in-depth on the math behind them.