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 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...

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 Federal...