The influential Scherer and Ross text (1990, p. 411) states that the “main question” in empirical industrial organization in the latter part of the twentieth century is Bain’s (1951) “collusion” or “agreement” hypothesis versus Demsetz’s (1973) “superior firm” hypothesis. Prior to the...

The Old Empirical Industrial Organization (OEIO) used OLS to analyze the correlation between concentration and industry profits. There are two competing hypotheses--collusion (Bain 1951) or superior competitors (Demsetz 1973). The New Empirical IO (NEIO) undertakes industry specific structural...

We model “dumping” as price discrimination assuming profit maximization by Korean firms prior to OECD and WTO membership. We show that the ratio of domestic prices, PD, to export prices, PX, can be derived from domestic and export price-cost margins. Accounting mismeasurements of costs...

The influential Scherer and Ross text (1990, p. 411) states that the main question in empirical industrial organization in the latter part of the twentieth century is Bains (1951) collusion or agreement hypothesis versus Demsetzs (1973) superior firm hypothesis. Prior to the Federal Trade...