Why would rivals oppose reduced competition, which means they can put their prices up too? That is what reduced competition means.
Infallible proof Vodafone SkyTV merger is pro-competitive
23 Feb 2017 Leave a comment
in applied price theory, economics of regulation, entrepreneurship, industrial organisation, politics - New Zealand Tags: antitrust economics, merger law enforcement
The robots to get everybody’s jobs and then some 150 years ago
21 Feb 2017 Leave a comment
in economic history, industrial organisation, labour economics, labour supply Tags: creative destruction, technological unemployment
Dead Wrong™ with Johan Norberg – Nordic Gender Equality
20 Feb 2017 Leave a comment
in applied price theory, discrimination, entrepreneurship, gender, industrial organisation, labour economics, labour supply, managerial economics, occupational choice, organisational economics, personnel economics Tags: gender wage gap
The tractors are coming, the tractors are coming for all the horses
16 Feb 2017 Leave a comment
in economic history, industrial organisation, labour economics, labour supply Tags: agricultural economics, creative destruction, technological unemployment, technology diffusion
Many new technologies display long adoption lags, and this is often interpeted as evidence of frictions inconsistent with the standard neoclassical model. We study the diffusion of the tractor in American agriculture between 1910 and 1960 — a well known case of slow diffusion — and show that the speed of adoption was consistent with the predictions of a simple neoclassical growth model.
The reason for the slow rate of diffusion was that tractor quality kept improving over this period and, more importantly, that only when wages increased did it become relatively unprofitable to operate the alternative, labor-intensive, horse technology
Source: Frictionless Technology Diffusion: The Case of Tractors By RODOLFO E. MANUELLI AND ANANTH SESHADRI
The Coase Theorem
08 Feb 2017 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, history of economic thought, industrial organisation, law and economics, property rights, Ronald Coase Tags: Coase theorem
More on the emergence of a working rich
06 Feb 2017 Leave a comment
in entrepreneurship, financial economics, human capital, industrial organisation, labour supply, occupational choice, poverty and inequality, survivor principle Tags: superstars, top 1%
The Balance of Industries and Creative Destruction
02 Feb 2017 Leave a comment
in applied price theory, economic history, industrial organisation, survivor principle Tags: creative destruction, The meaning of competition
Will automation take away all our jobs?
31 Jan 2017 Leave a comment
in economic history, entrepreneurship, industrial organisation, labour economics Tags: automation, technological unemployment
Utopia, you are standing in it! 
Recent Comments