Description
“Empirical Studies in Industrial Organization” brings together leading scholars who present state-of-the-art research in the spirit of the structure-conduct-performance paradigm embodied in the work of Leonard W. Weiss. The individual chapters are generally empirically or public policy oriented. A number of them introduce new sources of data that, combined with the application of appropriate econometric techniques, enable new breakthroughs and insights on issues hotly debated in the industrial organization literature. For example, five of the chapters are devoted towards uncovering the link between market concentration and pricing behavior. While theoretical models have produced ambiguous predictions concerning the relationship between concentration and price, these chapters, which span a number of different markets and situations, provide evidence that a high level of market concentration tends to result in a higher level of prices. Three of the chapters explore the impact of market structure on production efficiency, and three other chapters focus on the role of industrial organization on public policy.
