Economics of Regulation and Antitrust

By W. Kip Viscusi

Book Overview

"Incisive and up-to-date, this textbook lucidly explains the economic principles underlying effective regulatory and antitrust policies and provides a thorough examination of their consequences." -Richard Zeckhauser, Ramsey Professor, Kennedy School of Government, Harvard University This new edition of Economics of Regulation and Antitrust continues to place economic reasoning first and foremost in analyzing regulatory and antitrust issues. It remains the only text that introduces the field by stressing the economic theory and empirical analysis that provides the rationale for government intervention in the market. The focus on economic principles, however, does not exclude treatment of institutional aspects of regulation and antitrust policy, which are explored in extensive case studies on mergers, cable television, and transportation regulation, among other topics. Following two introductory chapters, the text is divided into three parts: antitrust policy, economic regulation, and social regulation. Each part can be used separately for a variety of courses. Questions and problems appear at the end of almost every chapter. New topics, such as regulation of environmental tobacco smoke, have been added to the second edition, and other topics, such as pharmaceutical regulation and the new price competition in electric power, have been given entirely new treatments to reflect the changing emphases of government policy. The chapters on the airline, cable television, and telecommunications industries have been updated, and studies assessing the impact of airline deregulation on market concentration, air fares, and airline safety have been revised. There are extensive reviews of important regulatory changes regarding cable television rates. And sections have been added to cover such major regulatory issues as telecommunication and the digital convergence of communications, computers, and entertainment and their impact on both traditional and wireless local telephone, long distance telephone, and cable televison.

• Format: Hardcover
• Language: English
• ISBN: 0669281077
• ISBN13: 9780669281071
• Release Date: January 1992
• Publisher: D C Heath & Co
• Length: 759 Pages
• Weight: 2.60 lbs.
• Dimensions: 9.8" x 1.3" x 6.8"

Customer Reviews

Regulators should read it

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.

Heavy life saver!

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.

Review of Economics of regulation and antitrust

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.