This new edition of the leading text on business & government focuses on the insights economic reasoning can provide in analyzing regulatory & antitrust issues. Departing from the traditional emphasis on institutions Economics of Regulation & Antitrust asks how economic theory & empirical analyses can illuminate the character of market operation & the role for government action & brings new developments in theory & empirical methodology to bear on these questions. The fourth edition has been substantially revised & updated throughout with new material added & extended discussion of many topics. Part I on antitrust has been given a major revision to reflect advances in economic theory & recent antitrust cases including the case against Microsoft & the Supreme Courts Kodak decision. Part II on economic regulation updates its treatment of the restructuring & deregulation of the telecommunications & electric power industries &
Includes:: an analysis of what went wrong in the California energy market in 2000 & 2001. Part III on social regulation now
Includes:: increased discussion of risk-risk analysis & extensive changes to its discussion of environmental regulation. The many case studies included provide students not only pertinent insights for today but also the economic tools to analyze the implications of regulations & antitrust policies in the future. The book is suitable for use in a wide range of courses in business law & public policy for undergraduates as well at the graduate level. The structure of the book allows instructors to combine the chapters in various ways according to their needs. Presentation of more advanced material is self-contained. Each chapter concludes with questions & problems.