The Manufacturing of Markets: Legal, Political and Economic Dynamics

ISBN-13: 9781107677326 / Angielski / Miękka / 2020 / 547 str.

Eric Brousseau; Jean-Michel Glachant

Opis

Drawing on case studies from a range of industries, countries and periods of history, this edited volume examines how a combination of economic, political and legal dynamics shape the formation and the performance of markets. This book will appeal to all those interested in the reform of markets.

Recenzje

'Eric Brousseau and Jean-Michel Glachant have assembled a fascinating set of contributions that discuss the institutional arrangements that contribute to the 'manufacturing' of markets for goods and services … The chapters in this book provide important insights about how these institutional choices have been made in many different contexts, drawing on lessons from economics, political science, organizational behavior, psychology and law. There is much to learn from these chapters for both scholars and policymakers.' Paul L. Joskow, President, Alfred P. Sloan Foundation, and Elizabeth and James Killian Professor of Economics, Emeritus, Massachusetts Institute of Technology

Spis treści

Introduction: 1. Manufacturing markets: what it means and why it matters? Eric Brousseau and Jean-Michel Glachant; Part I. Public and Private Complementarities in Securing Exchange: Introduction to Part I Eric Brousseau and Jean-Michel Glachant; 2. Measurement systems as market foundations: perspectives from historical markets Aashish Velkar; 3. How to manufacture quality: the diversity of institutional solutions and how they interact in agrifood markets Marta Fernandez Barcala, Manuel Gonzalez-Diaz and Emmanuel Raynaud; 4. The law of impersonal transactions Benito Arruñada; Part II. Path Dependency and Political Constraints in Establishing Property Rights Systems: Introduction to Part II Eric Brousseau and Jean-Michel Glachant; 5. 'Manufacturing markets': the efficiency advantages of grandfathering allocations over auctions Terry L. Anderson, Ragnar Arnason and Gary D. Libecap; 6. Allocation in air emissions markets A. Denny Ellerman; 7. Auction versus negotiation in public procurement: looking for empirical evidence Eshien Chong, Carine Staropoli and Anne Yvrande-Billon; Part III. The Political Origin of Competition: Introduction to Part III Eric Brousseau and Jean-Michel Glachant; 8. Why competitive markets aren't self-actuating: the political economy of limited access John J. Wallis; 9. The creation of a market for retail electricity supply Stephen Littlechild; 10. The institutional design of European competition policy Antonio Manganelli, Antonio Nicita and Maria Alessandra Rossi; Part IV. The Myopia of the Public Hand: Introduction to Part IV Eric Brousseau and Jean-Michel Glachant; 11. Third-party opportunism and the theory of public contracts: operationalization and applications Marian W. Moszoro and Pablo T. Spiller; 12. The cycling of power between private and public sectors: electricity generation in Argentina, Brazil and Chile Witold J. Henisz and Bennet A. Zelner; 13. Politics and the manufacturing of a transatlantic market for civil aviation (1944–2007) Yannis Karagiannis and Adrienne Héritier; Part V. The Challenge of Balancing Public and Private Ordering: Introduction to Part V Eric Brousseau and Jean-Michel Glachant; 14. The microstructure of the first emerging markets in Europe in the eighteenth century Larry Neal; 15. Money reconstructed: Argentina and Brazil after hyperinflation Jérôme Sgard; 16. For a renewal of financial regulation Michel Aglietta and Laurence Scialom; Part VI. The Daily Adjustment of Market Technology: Introduction to Part VI Eric Brousseau and Jean-Michel Glachant; 17. Antitrust liability in the U.S. for unilateral refusals to deal in intellectual and other property Howard A. Shelanski; 18. How do firms exercise unilateral market power? Empirical evidence from a bid-based wholesale electricity market Shaun D. Mcrae and Frank A. Wolak; 19. Exchanges: the quintessential manufactured markets Craig Pirrong; 20. Conclusion: tatonnement in the manufacturing of markets Eric Brousseau and Jean-Michel Glachant; References; Index.