Authors: Paul Ferguson, Glenys J. Ferguson
ISBN-13: 9780814726259, ISBN-10: 0814726259
Format: Paperback
Publisher: New York University Press
Date Published: April 1994
Edition: 2nd ed
Paul R. Ferguson is coauthor, with Glenys J. Ferguson, of Business Economics, and is Lecturer in Economics, Lancaster University. He has considerable experience in consultancy, teaching courses in Industrial Economics and the application of economic analysis to business problems. Glenys J. Ferguson has taught economics at Lancaster University and has worked as a research analyst and consultant.
Industrial economics has reach a cross roads in its development; the established approach, based on the neoclassical theory of the firm, it now being challenged by a variety of ideas and concepts. Paramount among these are developments within institutions, economics and the world of the Austrian School.This revised and updated edition of Paul Ferguson's successful textbook integrates these new approaches into a critical exposition of neoclassical theory. While the first edition presented the work of the Austrian School as the main counter to the traditional (neoclassical) paradigm, this new edition widens the theoretical approaches considered. The volume now encompasses all the major variants of what is becoming known as the new institutional economics. Topics discussed include: Subjects which neoclassical analysis has always found difficult to accommodate, such as innovation and advertising, topical problems, such as privatization and deindustrialization. Areas of particular importance for policy formation, such as monopoly.
A revised and updated textbook that integrates new approaches alongside a critical exposition of neoclassical theory. While the first edition presented the work of the Austrian School as the counter to the traditional (neoclassical) paradigm, the second edition widens the theoretical approaches considered to encompass all the major variants of what is becoming known as the new institutional economics, with, in particular, more attention being given to transaction cost economics. Paper edition (unseen), $15. Annotation c. Book News, Inc., Portland, OR (booknews.com)
List of Figures | ||
List of Tables | ||
Acknowledgements | ||
Preface to the First Edition | ||
Preface to the Second Edition | ||
1 | Introduction | 1 |
2 | The Structure-Conduct-Performance Paradigm | 13 |
3 | Market Concentration | 38 |
4 | The Advertising Debate | 60 |
5 | Monopolies - Good or Bad? | 83 |
6 | Invention, Innovation and Diffusion | 108 |
7 | The Foundations of Industry Policy | 136 |
8 | Industry Policy in Practice | 160 |
9 | State or Private Control? | 194 |
10 | Deindustrialisation | 230 |
11 | Concluding Note | 259 |
Appendix 1 An Example of the Approach of the New Industrial Organisation | 262 | |
Appendix 2 The Dorfman and Steiner Condition for Optimal Advertising Levels | 265 | |
Appendix 3. Harberger's Method of Estimating the Welfare Effects of Monopoly | 268 | |
Appendix 4. Cowling and Mueller's Method of Estimating the Welfare Effects of Monopoly | 269 | |
References | 271 | |
Author Index | 299 | |
Subject Index | 304 |