Economics of Regulation and Antitrust - 3rd Edition (Hardcover)

by W. Kip Viscusi (Author), John M. Vernon (Author), Joseph E. Harrington (Author)

Editorial Reviews

Review
"How do Viscusi, Harrington, and Vernon do it? Their book keeps getting better and better. It is only 'natural' that they have a monopoly on teaching students, faculty, and policymakers the economics of regulation and antitrust."
—Thomas J. Kniesner, Chair and Krisher Professor, Department of Economics, Syracuse University

"Rather than inundate the reader with institutional details that will soon be out of date, this impressive book provides the tools necessary to analyze current and future regulatory and antitrust issues. Its compelling set of contemporary applications should make it appealing to advanced undergraduates and a useful reference for graduate students."
—Michael Greenstone, 3M Associate Professor of Economics, MIT

"This book is by far the most comprehensive and analytically sophisticated treatment of its subject available. The combination of antitrust with government regulation makes the book especially valuable for any course about the effects of government on the private economy. The book manages to convey both contemporary economic theory and current regulatory practice with uncommon lucidity and without burdening the reader with jargon or legalese."
—Sam Peltzman, Ralph and Dorothy Keller Distinguished Service Professor of Economics, Emeritus, Graduate School of Business, University of Chicago --This text refers to the Hardcover edition.

Product Description
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

• Hardcover: 896 pages
• Publisher: The MIT Press; 3 edition (July 21, 2000)
• Language: English
• ISBN-10: 0262220628
• ISBN-13: 978-0262220620
• Product Dimensions: 9.3 x 8.3 x 1.7 inches
• Shipping Weight: 4.2 pounds (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars See all reviews (8 customer reviews)
• Amazon.com Sales Rank: #867,794 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

27 of 31 people found the following review helpful:

5.0 out of 5 stars Review of Economics of regulation and antitrust, May 15, 2000

By	Steve Erfle (Carlisle, PA, USA) - See all my reviews

This review is from: Economics of Regulation and Antitrust (Hardcover)

This work provides an excellent overview of the field of regulation from an economic point of view. The primary focus is economic rather than institutional -- as a result it is more appropriate for economists than for legal scholars. Although the book does not require extensive training in economics, it does assume some formal knowledge of basic economic concepts. Since its focus is economic, little time is spent discussing legal cases surrounding many of the regulations compared with, for example, Law, Business, and Society, by McAdams, et. al.

9 of 10 people found the following review helpful:

5.0 out of 5 stars Heavy life saver!, February 12, 2005

By	A. Michshenko "AMichshenko" (St. Louis. MO) - See all my reviews (REAL NAME)

Seldom books on economic theory, particularly on regulation and antitrust are as clearly and professionally written as this one. A student of economics and Ph.D. hopeful, I keep this book within my hand reach at all times.
Economics of Regulation and Antitrust cites numerous antitrust and regulatory cases from American and European history and is thought provoking rather than doctrinal. The graphs are exceptionally easy to read and understand. Particularly well written are chapters on regulation of American transportation.
I continue to use this book for my research and highly recommend it to anybody who is seriously interested in understanding the logic behind regulation acts, game theory, and franchise bidding.

1 of 1 people found the following review helpful:

4.0 out of 5 stars Regulators should read it, June 25, 2007

By	Senn Mario - See all my reviews (REAL NAME)

This review is from: Economics of Regulation and Antitrust, 4th Edition (Hardcover)

Economics of Regulation and Antitrust offers a broad conclusion on Regulation and Antitrust policies. The issues are well described and easily to understand. Best suited for graduate students in Economics.