Contestable Markets and the Theory of Industry Structure

Front Cover
Harcourt Brace Jovanovich, 1988 - Business & Economics - 538 pages

From inside the book

 

Contents

1D Normative and Behavioral Positive Elements in the Analysis
8
2B Industry Equilibrium
24
2D Existence and Optimality of Sustainable Industry Configurations
32
Copyright

57 other sections not shown

Other editions - View all

Contestable Markets and the Theory of Industry Structure
William J. Baumol,John C. Panzar,Robert D. Willig
Snippet view - 1982
Contestable Markets and the Theory of Industry Structure
William J. Baumol,John C. Panzar,Robert D. Willig
Snippet view - 1982
Contestable Markets and the Theory of Industry Structure
William J. Baumol,John C. Panzar,Robert D. Willig
Snippet view - 1982

Common terms and phrases

analysis assumption average cost curve average incremental cost Baumol behavior capital Chapter competitive equilibrium concept construction cost complementarities cost function cost surface cost-minimizing cross subsidy definition demand functions discussion economies of scope efficient entry barriers entry costs equal example exist feasible Figure firm's firms producing fixed costs hyperplane implies increase incumbent firms industry configuration industry cost industry output industry structure industry's input prices integer intertemporal investment locus marginal cost market demand minimization minimum monopolist multiproduct firm natural monopoly number of firms oligopoly optimal output vector perfect competition perfectly contestable markets period permits potential entrants price vector product set product-specific profitable entry Proof Proposition quantities Ramsey optimum Ramsey prices ray average cost relevant requires result returns to scale revenues scale economies single-product subadditivity sufficient sunk costs sustainable configuration sustainable prices tion total cost trans-ray convexity translog unsustainability Willig yields zero

About the author (1988)

William Jack Baumol was born in the South Bronx, New York on February 22, 1922. He served in the Army during World War II and got a job at the Agriculture Department, where he worked on allocating grain supplies to starving countries. He graduated from City College and enrolled in the London School of Economics in 1947, after initially being rejected. Less than six weeks after school started, he was hired to become a member of the faculty. He taught at Princeton University from 1949 until 1970 and then taught at New York University from 1971 until his retirement in 2014. As an economist, he identified Baumol's cost disease, which explains why the cost of services, like haircuts and college educations, rises faster than the cost of goods, like T-shirts. He published dozens of books, hundreds of papers, and several congressional testimonies on entrepreneurs, environmental policy, corporate finance, stock sales, the economics of Broadway theaters, inflation, and competition and monopolies. He died on May 4, 2017 at the age of 95.

Bibliographic information

TitleContestable Markets and the Theory of Industry Structure
AuthorsWilliam J. Baumol, John C. Panzar, Robert D. Willig
ContributorsJohn C. Panzar, Robert D. Willig
Edition2, illustrated, revised
PublisherHarcourt Brace Jovanovich, 1988
Original fromthe University of Michigan
DigitizedDec 23, 2009
ISBN0155139118, 9780155139114
Length538 pages
Subjects ›  › 

Business & Economics / Industries / General
Technology & Engineering / General
  
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