Editorial Review:
This new edition of "Economics of Regulation and Antitrust" continues to place economic reasoning first and foremost in analyzing regulatory and antitrust issues. It introduces the field by stressing the economic theory and empirical analysis that provides the rationale for government intervention in the market. The focus on economic principles, however, does not exclude treatment of institutional aspects of regulation and antitrust policy, which are explored in extensive case studies on mergers, cable television, and transportation regulation, among other topics. Following two introductory chapters, the text is divided into three parts: antitrust policy, economic regulation and social regulation. Each part can be used separately for a variety of courses. Questions and problems appear at the end of almost every chapter. New topics, such as regulation of environmental tobacco smoke, have been added to the second edition, and other topics, such as pharmaceutical regulation and the new price competition in electric power, have been given entirely new treatments to reflect the changing emphases of government policy. The chapters on the airline, cable television, and telecommunications industries have been updated, and studies assessing the impact of airline deregulation on market concentration, air fares and airline safety have been revised. There are extensive reviews of important regulatory changes regarding cable television rates. And sections have been added to cover such major regulatory issues as telecommunication and the digital convergence of communications, computers and entertainment and their impact on both traditional and wireless local telephone, long distance telephone and cable television.
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Customer Reviews
Average Customer Rating: 
Serviceable 2008-01-28
In my opinion, this book emphasized history and historical cases too much. While I believe empirical data are important for evaluating economic theory, I thought this book went overboard. Also, I found it annoying that many relevant facts to example problems (e.g., marginal costs) were not conveniently displayed near the graph, but rather, hidden somewhere within the text describing the example. Similarly, it would sometimes present important conclusions in the form of block quotes from authoritative figures, which can be useful for some purposes, but is usually just annoying. All in all, I wouldn't say this book is horrible, but I think there are probably better alternatives available.
Regulators should read it  2007-06-26
Economics of Regulation and Antitrust offers a broad conclusion on Regulation and Antitrust policies. The issues are well described and easily to understand. Best suited for graduate students in Economics.
Horrible  2007-06-03
This read like a math book with a few interesting facts. I was dumbfouned by reading this book. I would get to class and my professor would explain things using the same examples from the book and I would understand. The book is impossible to follow. It will give you a million variables and different numbers to think about, and then later expect you to remember something it briefly mentioned two paragraphs ago. If you can learn from reading a math book and no class room instruction; I not only would like to meet you but hand you this book. You would probably love it and understand antitrustlaw and regulation as well as the douches at MIT that wrote the thing.
Heavy life saver!  2005-02-13
Seldom books on economic theory, particularly on regulation and antitrust are as clearly and professionally written as this one. A student of economics and Ph.D. hopeful, I keep this book within my hand reach at all times.
Economics of Regulation and Antitrust cites numerous antitrust and regulatory cases from American and European history and is thought provoking rather than doctrinal. The graphs are exceptionally easy to read and understand. Particularly well written are chapters on regulation of American transportation.
I continue to use this book for my research and highly recommend it to anybody who is seriously interested in understanding the logic behind regulation acts, game theory, and franchise bidding.
This Book Stinks 2004-04-20
If you are looking for a nonconsistant book that jumps around and does not follow through on its explanation of certain topics than this is the book for you!
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