Economics of industrial organization Books

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Book SynopsisThe view of dynamic capabilities in evolutionary economics as being based on capabilities comprised of routines has so far precluded their integration in evolutionary economics. This Element contributes to such integration by introducing the dynamic metacapabilities framework. Borrowing from quantum mechanics, dynamic metacapabilities assume that resources and capabilities, rather than being created ex-nihilo, result from bundles of information ''decohering '' to bundles of resources and capabilities as new information becomes available to the firm. Operationalized by a management paradigm we call ''quantum management, '' dynamic metacapabilities contribute to integrating dynamic capabilities in evolutionary economics and to resolving the ongoing debate on what dynamic capabilities are by postulating an informational view of the firm according to which firms ''evolve '' with strategy throughout a lifecycle governing the transition from dynamic ''metacapabilities '' to dynamic capabilities and onto ordinary capabilities.

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Book SynopsisThis book provides a comprehensive approach to productivity and efficiency analysis for upper-level undergraduates, graduate students, and professionals. An accompanying website includes programming codes that can be used with widely available software like MATLAB (R) and R, and test data for many of the estimators in the book.Trade Review'Sickles and Zelenyuk have written the most comprehensive book on production theory and the measurement of productivity in the history of these subjects. Researchers, students and teachers who are interested in production theory and the measurement of productivity will treasure this book.' W. Erwin Diewert, University of British Columbia and University of New South Wales'Productivity and efficiency measurement has been a growth area for fifty years. Sickles and Zelenyuk bring together all the theory and practice, including the rich history, the full range of methods, and all the schools of thought. This is an amazingly comprehensive survey of the field.' William Greene, New York University'Robin Sickles and Valentin Zelenyuk have written an outstanding book on a very important topic – the measurement of productivity and efficiency. The book provides a complete and thorough introduction to the economic theory of production and its many applications to national accounting and econometric modeling. An especially valuable feature of the book is the detailed treatment of productivity and growth in the world economy.' Dale Jorgenson, Samuel W. Morris University Professor, Harvard University'Rarely does a book comprehensively survey and creatively extend both the theoretical underpinnings and the practical implementation of a field of research. This is such a book, and it belongs on the desk of all scholars interested in producer performance measurement.' C. A. Knox Lovell, University of Queensland'Sickles and Zelenyuk, outstanding researchers from two generations, impart their knowledge and wisdom into this monumental book on theory and practice of efficiency and productivity measurement. This is an invaluable resource for graduate students, researchers and practitioners alike. Strongly recommended.' D. S. Prasada Rao, University of Queensland'This book is a comprehensive treatment of the economic and statistical issues involved in the estimation of the efficiency of production. It covers both stochastic frontier models and envelopment-type methods such as DEA and FDH. It is the best and most comprehensive currently available treatment of this topic.' Peter Schmidt, Michigan State University'This book is an important contribution to both economic theory of productivity and efficiency and its measurement. It is a seminal work that highlights the significance of 'theory with measurement' and 'measurement with theory'.' H. Pyo, Seoul National University'Robin Sickles and Valentin Zelenyuk have brought together a large set of research results both in the theoretical analysis and in the empirical aspects of productivity and efficiency. This results in a comprehensive textbook with deep insights on the theory of production and large discussions on the econometrics implementations. The book will, for sure, be a useful resource for researchers in the field.' Léopold Simar, Université Catholique de Louvain'The book thoroughly covers theory (index numbers, axiomatic production theory, DEA, FDH, stochastic models, inference) and practice of measurement of efficiency and productivity, including issues and sources of data with links, as well as links to software and models. A rigorous and truly indispensable guide - and all this and more in a mere 630 pages.' Rolf Fare and Shawna Grosskopf, Oregon State UniversityTable of ContentsPreface; Introduction; 1. Production theory: primal approach; 2. Production theory: dual approach; 3. Efficiency measurement; 4. Productivity indexes: part 1; 5. Aggregation; 6. Functional forms; 7. Productivity indexes: part 2; 8. Envelopment-type estimators; 9. Statistical analysis for DEA and FDH: Part 1; 10. Statistical analysis for DEA and FDH: part 2; 11. Cross-sectional stochastic frontiers; 12. SF models-first generation panel approaches; 13. SF models-second generation approaches; 14. Endogeneity; 15. Dynamic models; 16. Shape restrictions and model averaging; 17. Measurement, KLEMS, and other data; Afterword.

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Book SynopsisThis book uses economic theory to argue that worker-controlled firms are rare due to market failures rather than inherent organizational defects. The book will be of interest to scholarly researchers, graduate students, and advanced undergraduates in economics, especially in industrial organization, labor economics, comparative economics, organizational economics, and finance.Trade Review'Gregory K. Dow has thought more deeply and in a more sustained manner about the puzzle of why capital hires labor than any serious student of economic theory since the first efforts in the field were undertaken more than a generation ago. The present effort to organize, revisit, and distil the conclusions from his investigations is rigorous, laid out with admirable clarity, and always intellectually honest and clear-headed. Louis Putterman, Brown University, Rhode Island'Bringing together a lifetime's research, The Labor-Managed Firm lays out the failures of the classic model of cooperatives that assumes that they maximize income per worker instead of profits. It offers an array of ideas about the relation between labor and capital to account for the sparsity of coops in market economies.' Richard Freeman, Harvard University, Massachusetts'This book provides an expansive economic theory of firms controlled by their employees. It explores the birth, evolution and possible transformation of such firms in comparison to conventional investor-owned firms. Although it is a primarily theoretical work, it refers to the empirical literature so the reader gets a broad understanding of this sector of the economy. The theoretical analyses presented in this book provide guidance to practitioners. I highly recommend this book to all those interested in employee ownership.' Avner Ben-Ner, Center for Human Resources and Labor Studies, University of Minnesota'In this remarkable work, Dow synthesizes his extensive research on the economics of labor-managed enterprises. Economists working in the field will find both an indispensable assessment of the literature and a fruitful catalyst for fresh theoretical and empirical investigations. Those new to the subject will discover insights about the manifold ways in which market conditions shape how firms are governed.' Gilbert Skillman, Wesleyan University, Connecticut'Does current corporate governance reflect market efficiency, or are there potentially better ways to organize and run corporations? Gregory K. Dow takes this question to a new level by pulling together his own and others' theoretical work on labor-managed firms, providing a thoughtful comparison of the conditions favoring capital-managed and labor-managed firms. This is a masterful contribution to basic issues of economic organization, with implications for how we should design firms and public policy.' Douglas Kruse, Rutgers University, New Jersey'This is a lovely book, and one we have needed for several decades. It offers a genuinely novel perspective on the theory of labor-managed firms, informed at every step by a careful attention to empirical findings and by the institutional makeup of real-world worker cooperatives and employee-owned firms. Dow has spent some thirty years thinking about these issues, and brings his work together in an impressive whole. It will redefine the theoretical and empirical research agendas, as well as providing an invaluable text in support of a postgraduate course on economic democracy.' Virginie Pérotin, University of LeedsTable of ContentsPart I. Setting the Stage: 1. The puzzling asymmetry; Part II. Perfection and Symmetry: 2. Profit maximization and control rights; 3. The labor-managed firm in the short run; 4. The labor-managed firm in the long run; 5. The labor-managed firm in general equilibrium; Part III. Imperfection and Asymmetry: 6. Empirical asymmetries (I); 7. Empirical asymmetries (II); 8. The rarity of labor-managed firms; Part IV. Appropriation Problems: 9. Imperfect appropriation; 10. Firm formation with adverse selection; 11. Partnership markets with adverse selection; Part V. Public Good Problems: 12. Collective choice and investor takeovers; 13. Free riding and employee buyouts; Part VI. Opportunism Problems (I): 14. Transaction cost economics; 15. Firm-specific investments; Part VII. Opportunism Problems (II): 16. Asset ownership and work incentives; 17. Capital stocks and labor flows; 18. Honest and dishonest controllers; Part VIII. Synthesis and Agenda: 19. Breaking the symmetry; 20. Policy directions.

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Book SynopsisMarkets are taken as the norm in economics and in much of political and media discourse. But if markets are superior why does the public sector remain so large? Avner Offer provides a distinctive new account of the effective temporal limits on private, public, and social activity. Understanding the PrivatePublic Divide accounts for the division of labour between business and the public sector, how it changes over time, where the boundaries ought to run, and the harm that follows if they are violated. He explains how finance forces markets to focus on short-term objectives and why business requires special privileges in return for long-term commitment. He shows how a private sector policy bias leads to inequality, insecurity, and corruption. Integrity used to be the norm and it can be achieved again. Only governments can manage uncertainty in the long-term interests of society, as shown by the challenge of climate change.Trade Review'Family, school, railways? What do they have in common? They cannot be run well, or at all, as private for-profit enterprises and yet they are crucial for a good life. In this well-written and tightly argued book Avner Offer brings arguments to delineate the areas that naturally belong to the market and to the state. At the time when the neoliberal version of capitalism is widely questioned, this books proposes a new set of answers.' Branko Milanovic, author of Global Inequality and Capitalism, Alone.'Avner Offer is, to my mind, the leading thinker on the Left from within the academic community of economists and historians. He is not afraid to think in radical terms, as he has shown in relation to an impressive range of issues, including colonialism, war, consumerism and, here, the state. His latest book is a must-read, imbued with both history and practical economics, and couldn't be more policy relevant. If you agree with Offer, it will add fire to your existing arsenal; if you disagree, it will represent a much-needed challenge. Either way, Offer's voice needs – and deserves – to be heard.' Victoria Bateman, author of The Sex Factor: How Women made the West Rich'As a scholar and as a citizen Avner Offer always puts Truth in the first place. He asks thorny questions that pierce to the heart of things. His judgements are so deeply grounded and so carefully considered that they seldom allow any appeal. Understanding the Private-Public Divide shows Offer's passions for veracity, for equality under the law, for social justice, for community responsibility and for a commensurate distribution of wealth: in a word his humanity. This immediately topical book goes to the heart of the contemporary crisis of untruthfulness, injustice, mistrust and disorder. Complacent satisfaction in contemporary democracy is more and more, he shows, a cloak for corruption and criminality.' Richard Davenport-Hines, author of Universal Man: The Seven Lives of John Maynard Keynes 'The Covid pandemic has exposed the inadequacy of individualism and the market mechanism as answers to a global catastrophe. Avner Offer, one of the most imaginative and thought-provoking of economic historians, shows how this is just one example of a failure to understand the proper roles of the public and private sectors. His book should be read by every economist, politician and journalist confronting the current economic position and the threat of climate change.' Roderick Floud, author of An Economic History of the English GardenTable of ContentsIntroduction; 1. Patient capital; 2. Corruption and integrity; 3. Plutocratic blowback; 4. Creating humans; 5. Exit from work; 6. Housing and democracy; 7. Climate change and time horizons; Conclusion.

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Book SynopsisThis Element approaches the topic of business model innovation from the perspective of the established firm and examines the unique strategic and organizational issues that big, established companies face when a new business model enters their markets.Table of Contents1. What is business model innovation?; 2. Discovering new business models; 3. Responding to BMI; 4. Competing with two business models; 5. The uniqueness of BMI; References.

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Book SynopsisA thoroughly revised and updated edition of the leading textbook on government and business policy, presenting the key principles underlying sound regulatory and antitrust policy.Regulation and antitrust are key elements of government policy. This new edition of the leading textbook on government and business policy explains how the latest theoretical and empirical economic tools can be employed to analyze pressing regulatory and antitrust issues. The book departs from the common emphasis on institutions, focusing instead on the relevant underlying economic issues, using state-of-the-art analysis to assess the appropriate design of regulatory and antitrust policy. Extensive case studies illustrate fundamental principles and provide insight on key issues in regulation and antitrust policy. This fifth edition has been thoroughly revised and updated, reflecting both the latest developments in economic analysis and recent economic events. The text examines regulatory pract

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Book SynopsisHow logistics clusters can create jobs while providing companies with competitive advantage.Why is Memphis home to hundreds of motor carrier terminals and distribution centers? Why does the tiny island-nation of Singapore handle a fifth of the world's maritime containers and half the world's annual supply of crude oil? Which jobs can replace lost manufacturing jobs in advanced economies?Some of the answers to these questions are rooted in the phenomenon of logistics clusters—geographically concentrated sets of logistics-related business activities. In this book, supply chain management expert Yossi Sheffi explains why Memphis, Singapore, Chicago, Rotterdam, Los Angeles, and scores of other locations have been successful in developing such clusters while others have not. Sheffi outlines the characteristic “positive feedback loop” of logistics clusters development and what differentiates them from other industrial clusters; how logistics clusters

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Book SynopsisThe sports industry provides a seemingly endless set of examples from every area of microeconomics, giving students the opportunity to study economics in a context that holds their interest. Thoroughly updated to reflect the current landscape, The Economics of Sports introduces core economic concepts and theories and applies them to US and international sports. Divided into five parts, the book focuses on three major areas of the economics of sports: industrial organization, public economics, and labor economics. Updates for this seventh edition include: â An entirely new chapter on sports gambling and a fully revised section on intercollegiate sports; â Updated material on social justice in sports and the impact of the COVID-19 pandemic on the industry; â More coverage of international sports, e-sports, and new biographical sketches. This well-presented and accessible text is supported by easy-to-follow pedagogical features, such as end-of-Table of ContentsPart 1. Introduction and Review of Economic Concepts 1.Economics and Sports 2. Review of the Economist’s Arsenal Part 2: The Industrial Organization of Sports 3. Sports Leagues and Franchises 4. Monopoly and Antitrust 5. Competitive Balance 6. Sports Gambling Part 3: Public Finance and Sports 7. Teams, Stadiums, and Municipalities 8. Mega-Events Part 4: The Labor Economics of Sports 9. An Introduction to Labor Markets in Professional Sports 9. An Introduction to Labor Markets in Professional Sports 10. Labor Market Imperfections 11. Diversity, Equity and Inclusion in Sport Part 5: Sports in the Not-for-Profit Sector 12. The Economics of Intercollegiate College Sports

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Book SynopsisComprehensively reassesses the prospects for industrialization playing a critical role in Sub-Saharan African countries' development and shows that manufacturing represents a viable path to structural transformation through integration into global value chains (GVC).

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Book SynopsisEconomic inequality has become like the weather: everyone talks about it and nobody does anything about it. Working Assets founder Peter Barnes actually has a plan: a bold effort to break the stalemate over economic policy, lift up our middle class, and make everyone a stakeholder in a cleaner planet. Barnes argues that, thanks to automation, globalization, and winner-take-all capitalism, there will never again be enough high-paying jobs to sustain a large middle class. The only hope lies in non-labor income - that is, in jobs plus something more.Building upon our Declaration of Independence, an essay by Thomas Paine, and a 30-year-old program in Alaska, Barnes proposes paying monthly dividends to every American. This supplemental income would come from the wealth we own together - such as the atmosphere, our ecosystems, and the benefits that flow from our common cultural, social, legal and intellectual heritage. Such dividends would not only keep our economy humming, but can also be designed to make it unprofitable to abuse nature. And Barnes' proposal bypasses the current gridlock between left and right; once set up, the dividend system is purely market-based. This is a truly visionary yet eminently practical solution to a seemingly intractable problem.

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Book SynopsisMicroeconomic policies – in particular, industrial and innovation policies – are appraised and enforced within the framework of the rules relative to free movement and competition. This book introduces the current wave of innovative industrial policies in France. By giving a historical context to their development, the evolution of key economic concepts and theories are put into perspective. In addition, with the aim of articulating horizontal and vertical interventions, this book analyzes the difficulties for public authorities when it comes to linking these �matrix� policies.Table of ContentsAcknowledgements vii Introduction ix Chapter 1. Industrial Policy and Competition 1 1.1. The State and industrial policy 7 1.1.1. The State organizing the economy 8 1.1.2. Challenging the economic role of the State 16 1.2. Competition policy as the area of public action 19 1.2.1. Control of the market architecture 21 1.2.2. Monitoring the functioning of markets 38 1.3. Conclusion 50 Chapter 2. Competition and Innovation Policy 53 2.1. The renewal of the framework of thought 54 2.1.1. A new competitive economics 55 2.1.2. The geography of innovation 60 2.1.3. Innovation and competition policy: the Lisbon strategy 65 2.2. Innovation policy as a “new industrial policy” 69 2.2.1. Innovation and territory: competitiveness clusters 70 2.2.2. A new institutional framework for innovation 76 2.2.3. Support for innovative SMEs 78 2.3. The ambiguities of the “new industrial policy” 81 2.3.1. The logic of agglomeration 82 2.3.2. The logic of development 84 2.3.3. A new mode of governance 85 2.4. The Programme d’investissement d’avenir (PIA) 87 2.4.1. The logic of the Juppé-Rocard report 88 2.4.2. The PIA architecture 91 2.4.3. The link between the PIA and the competitiveness clusters 93 2.5. Conclusion 95 Chapter 3. Reindustrialization Through Innovation 97 3.1. The affirmation of an industrial ambition 100 3.1.1. A new concern: industry 101 3.1.2. The return of the sector concept 104 3.2. The nature of the industry 107 3.2.1. Problems in defining the industry 109 3.2.2. The question of industrial organization 115 3.3. Towards a renewal of State intervention 122 3.3.1. The new virtues of industrial policy 123 3.3.2. Rediscovering the argument for infant industry 126 3.4. Conclusion 129 Conclusion 133 References 145 Index 161

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Book SynopsisMit der Festschrift für Christian Kirchner sollte ein außergewöhnlicher akademischer Lehrer und Forscher zu seinem 70. Geburtstag geehrt werden, der in seiner die Rechts- und Wirtschaftswissenschaften umfassenden Laufbahn, zuletzt während seiner fast 20-jährigen Tätigkeit als Professor an der Humboldt-Universität zu Berlin, entscheidend zur Entwicklung des modernen Wirtschaftsrechts, insbesondere des Wettbewerbs- sowie des Regulierungsrechts, beigetragen hat. Er gilt als einer der führenden Vordenker der Ökonomischen Theorie des Rechts. Überraschend ist der zu Ehrende am 17. Januar 2014 verstorben. Das Werk ist daher seinem Andenken gewidmet.Für die Festschrift haben zahlreiche renommierte Autoren aus Deutschland sowie unter anderem der Schweiz, den USA und Asien als Freunde, Weggefährten, Schüler und Kollegen Beiträge verfasst, die sich mit Problemen aus den zentralen Arbeitsgebieten des zu Ehrenden wissenschaftlich auseinandersetzen. Schwerpunkte der Beiträge bilden das Wirtschafts- und Gesellschaftsrecht, Kartellrecht, Recht und Ökonomie der Regulierung sowie Institutionenökonomie. Dabei wird meist ein europäischer oder internationaler Bezug hergestellt und häufig eine wirtschaftswissenschaftliche Sichtweise gewählt.

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Book SynopsisWährend in Europa in den letzten 20 Jahren intensiv um den Einfluss des "More Economic Approach" gerungen wurde, hat sich in den USA mit "Behavioral Antitrust" ein neuer verhaltensökonomischer Wettbewerbsansatz hervorgetan. Dieser geht bei der wettbewerbsrechtlichen Analyse nur noch von beschränkt rationalen, willensstarken und eigeninteressierten Marktakteuren aus. Die verhaltensökonomische Analyse des Wettbewerbsrechts kann als Basis für einen wiederum neuen Wettbewerbsansatz gesehen werden: dem "More Realistic Approach". Dieser Ansatz will die Wettbewerbspolitik soweit wie möglich von den unrealistischen, theoretischen Annahmen befreien und mit empirisch erhärteten Fakten unterfüttern: Die Wettbewerbspolitik soll sich am realen Verhalten und den realen Zielen der Marktakteure orientieren, und damit der wettbewerbsrechtlichen Analyse realistischere Modelle zugrunde legen. Martin Meier geht dabei der grundlegenden Frage nach, wo die Möglichkeiten und Grenzen der verhaltensökonomischen Analyse des Wettbewerbs liegen.

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