Economics of Regulation and Antitrust

Book 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.

Customer Reviews:

Regulators should read it.......2007-06-26

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.

Horrible.......2007-06-04

This read like a math book with a few interesting facts. I was dumbfouned by reading this book. I would get to class and my professor would explain things using the same examples from the book and I would understand. The book is impossible to follow. It will give you a million variables and different numbers to think about, and then later expect you to remember something it briefly mentioned two paragraphs ago. If you can learn from reading a math book and no class room instruction; I not only would like to meet you but hand you this book. You would probably love it and understand antitrustlaw and regulation as well as the douches at MIT that wrote the thing.

Heavy life saver!.......2005-02-13

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.

This Book Stinks.......2004-04-21

If you are looking for a nonconsistant book that jumps around and does not follow through on its explanation of certain topics than this is the book for you!

Review of Economics of regulation and antitrust.......2000-05-15

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.

Economics of Regulation and Antitrust - 3rd Edition

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Economics of Regulation and Antitrust - 3rd Edition
W. Kip Viscusi
Manufacturer: The MIT Press
ProductGroup: Book
Binding: Paperback
ASIN: B000OR4I2U

Book Description

Firm valuation is currently a very exciting topic. It is interesting for those economists engaged in either practice or theory, particularly for those in finance. The literature on firm valuation recommends logical, quantitative methods, which deal with establishing today's value of future free cash flows. In this respect firm valuation is identical with the calculation of the discounted cash flow, DCF. There are, however, different coexistent versions, which seem to compete against each other. Entity approach and equity approach are thus differentiated. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), whereby these two concepts are classified under entity approach.

Why are there several procedures and not just one? Do they all lead to the same result? If not, where do the economic differences lie? If so, for what purpose are different methods needed? And further: do the known procedures suffice? Or are there situations where none of the concepts developed up to now delivers the correct value of the firm? If so, how is the appropriate valuation formula to be found? These questions are not just interesting for theoreticians; even the practitioner who is confronted with the task of marketing his or her results has to deal with it. The authors systematically clarify the way in which these different variations of the DCF concept are related throughout the book

ENDORSEMENTS FOR LÖFFLER: DISCOUNTED 0-470-87044-3

"Compared with the huge number of books on pragmatic approaches to discounted cash flow valuation, there are remarkably few that lay out the theoretical underpinnings of this technique. Kruschwitz and Löffler bring together the theory in this area in a consistent and rigorous way that should be useful for all serious students of the topic."

--Ian Cooper, London Business School

"This treatise on the market valuation of corporate cash flows offers the first reconciliation of conventional cost-of-capital valuation models from the corporate finance literature with state-pricing (or 'risk-neutral' pricing) models subsequently developed on the basis of multi-period no-arbitrage theories. Using an entertaining style, Kruschwitz and Löffler develop a precise and theoretically consistent definition of 'cost of capital', and provoke readers to drop vague or contradictory alternatives."

--Darrell Duffie, Stanford University

"Handling firm and personal income taxes properly in valuation involves complex considerations. This book offers a new, precise, clear and concise theoretical path that is pleasant to read. Now it is the practitioners task to translate this approach into real-world applications!"

--Wolfgang Wagner, PricewaterhouseCoopers

"It is an interesting book, which has some new results and it fills a gap in the literature between the usual undergraduate material and the very abstract PhD material in such books as that of Duffie (Dynamic Asset Pricing Theory). The style is very engaging, which is rare in books pitched at this level."

--Martin Lally, University of Wellington

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Book Description

Arguing that the 80 year-old Federal Arbitration Act badly needs major changes, the authors, who have previously written major articles on arbitration law and policy, set out their own views and argue among themselves about the necessary reforms of arbitration. The book contains draft legislation for use in international and domestic arbitration and detailed explanation of the precise justifications for proposed legislative changes. It also contains two proposals that might be deemed radical---to ban arbitration related to the purchase of products by consumers and to prohibit arbitration of employment disputes. Each proposal is vetted fully and critiqued by one or more of the other co-authors.

Book Description

Fritzsch offers readers the opportunity to listen in on a meeting of Isaac Newton, Albert Einstein, and a present-day physicist. While he introduces the theory of relativity, Fritzsch teaches its sources, its workings, and the ways it has revolutionized our view of the physical world. An Equation That Changed the World dramatizes the importance of relativity, for the human race, and the survival of our planet.

"Fritzsch could not give the modern reader a more memorable introduction to the personalities and science of Isaac Newton and Albert Einstein unless somehow he could find the keys to H. G. Wells' time machine. . . . Many readers will applaud Fritzsch for this lively but profoundly insightful book." —Booklist, starred review

"[Fritzsch] has dreamed up a dialogue between the two great physicists, helped along by a fictional modern physicist. . . . The conversation builds up to an explanation of E=mc2, and on the way illuminates the important points where Newtonian and Einsteinian theory diverge." —David Lindley, New York Times Book Review

Customer Reviews:

good start on your quest to learn everything.......2004-05-17

Using just enough math to give readers a taste for the complexity of the problem, and the elegant solution, Fritzsch introduced me not only to Einstein's great work, but also to the concepts of new and old physics, the problems inherent in both, and to two of the greatest minds in history. This book allowed me, intimidated by the gaping chasm of numbers, cryptic symbols, and big words of "the new physics", to grasp the basic concepts of relativity. The running dialogue and action kept me moderately interested when the concepts became difficult, although that facet of the book was the weakest. (I mean, I think Einstein, Newton, and a modern physicist would be able to think of something a little more captivating to talk about, but, who am I to judge?) All in all, a great intro for seekers of knowledge into the depths of modern physics.

Good information in an interesting format.......1997-05-10

The information presented in this book is different than usual--it is of an imaginary meeting between Issac Newton, Albert Eienstein, and a modern-day physicist. By there dialog, they explain the Theory of Relativity in a format that anyone can understand, yet gives enough imformation to develop a consise understanding of the theory

AN EQUATION THAT CHANGED THE WORLD NEWTON, EINSTEIN, AND THE THEORY OF RELATIVITY

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AN EQUATION THAT CHANGED THE WORLD NEWTON, EINSTEIN, AND THE THEORY OF RELATIVITY
HARALD FRITZSCH
Manufacturer: THE UNIVERSITY OF CHICAGO PRESS
ProductGroup: Book
Binding: Hardcover
ASIN: B000WAPY18

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An Equation That Changed the World : Newton, Einstein, and the Theory of Relativity
Harald; Heusch, Karin (translator) Fritzsch
Manufacturer: University Of Chicago Press
ProductGroup: Book
Binding: Paperback
ASIN: B000OP1EZQ

Book Description

For millions of readers worldwide, Alan Paton's books have vividly described life in contemporary South Africa. Ah, But Your Land Is Beautiful revolves around the everyday experiences of a group of men and women whose lives reflect the human costs of maintaining a racially divided society. Writing at the peak of his powers, Paton delivers a masterpiece.

Customer Reviews:

Wonderful Book!.......2006-06-09

I finished reading Ah, But Your Land is Beautiful quite a while ago, but I'd read it again it I hadn't borrowed it from the library. While you can't always tell which character is speaking, I find that that is good because it shows the complexity of views in South Africa in the 1950s. When you start reading a new section, you don't think, "Oh, that's just what Hugh Mainwaring thinks." You realise that the statements were actually what real people, not just characters, thought. Especially in this day and age, I think that this book helps a little to get in to the mind of terrorists today, even though the issues at stake are markedly different. I would recommend this to everyone, especially those who enjoy history.

Confusing But Truthful Theme.......2003-01-08

Alan Paton descibes realistic events of South Africans involved in 20th century conflicts. It's a great book. There are two main charcaters, Mr. Robert Mansfield and M.K. Bodasingh. It is often hard to determine which character is expressing his thoughts and for some to follow the story line, but definitely worth reading.

Alan Paton: an acquired taste.......2000-12-18

It's been almost 30 years since I read Cry, the Beloved Country and I'd forgotten how strangely Paton structures his books. This novel gives us some excellent insights on how sick a society South Africa was in the 1950's. However it's an extremely difficult read; shifting between past and present tense, dialogs were the author doesn't explain which characters are speaking, a great many references that are unclear to readers who know little about South Africa. Another reviewer called the novel "docu-fiction". That's exactly what it is. It has no protagonists. We learn very little about who these characters are and have trouble caring about them, aside from the grief inflicted on them by hateful Afrikaners. This was Paton's last novel. He was pushing 80 when he wrote it. He still had plenty to say. His ideosyncratic story telling detracts from the message.

Paton at his best........1999-10-18

"Ah But Your Land is Beautiful" is far and away one of the best books written about the old South Africa, and in many ways still applies very much so to today's "Rainbow Nation." Taking the reader into all of the minds in South Africa at the dawn of apartheid, this gripping multi-viewpoint docu-fiction is an amazing experience for those with everything from a little to an extensive background in South African history. It is a must for anyone who was captivated by "Cry, the Beloved Country," and in my opinion is his best work.

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AH BUT YOUR LAND IS BEAUTIFUL
Alan Paton
Manufacturer: Charles Scribner's Sons
ProductGroup: Book
Binding: Paperback

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Ah, but your land is beautiful
Alan Paton
Manufacturer: CHARLES SCRIBNERS SONS LTD
ProductGroup: Book
Binding: Paperback
ASIN: B000WE89RU

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Ah, But Your Land Is Beautiful
Alan Paton
Manufacturer: Vintage
ProductGroup: Book
Binding: Paperback

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Ah, But Your Land Is Beautiful
Alan Paton
Manufacturer: Scribners
ProductGroup: Book
Binding: Hardcover

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AH, BUT YOUR LAND IS BEAUTIFUL.
Alan. Paton
Manufacturer: NY, Scribner's, 1982. 271 pp. Fine copy of first edition in dust jacket.
ProductGroup: Book
Binding: Hardcover

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