Product Description

"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.

Product Details

• Amazon Sales Rank: #1484995 in Books
• Published on: 1995-12
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 890 pages

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

About the Author
W. Kip Viscusi is George G. Allen Professor of Economics at Duke University. John M. Vernon is Professor of Economics also at Duke University. Joseph E. Harrington is Professor of Economics at Johns Hopkins University.

Customer Reviews

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.

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.

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.