Competition, Efficiency, and Welfare: Essays in Honor of Manfred Neumann PDF
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Competition, Efficiency, and Welfare COMPETITION, EFFICIENCY, ANDWELFARE Essays in Honor of Manfred Neumann Edited by DENNIS c. MUELLER University of Vienna ALFREDHAID Deutsches Institut fur Wirtshaftsforschung (DIW), Berlin and JURGEN WEIGAND University of Erlangen-Nurnberg "~ SPRINGER-SCIENCE+BUSINESS MEDIA, B.V. A C.I.P. Catalogue record for this book is available from the Library of Congress. ISBN 978-1-4613-7542-5 ISBN 978-1-4615-5559-9 (eBook) DOI 10.1007/978-1-4615-5559-9 Printed on acid-free paper Ali Rights Reserved © 1991 Springer Science+Business Media Dordrecht Originally published by Kluwer Academic Publishers in 1991 Softcover reprint ofthe hardcover lst edition 1991 No part of the material protected by this copyright notice may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the copyright owner. Table of Contents List of Contributors vii Preface IX Introduction: About Manfred Neumann Dennis C. Mueller, Alfred Raid and Jiirgen Weigand 1 I. Innovation and R&D 1. Innovation as an Engine of Competition Paul A. Geroski 13 2. Innovation, Investment, and Corporate Finance Jiirgen Weigand 27 3. Vertical Organization, Technology Flows and R&D Incentives An Exploratory Analysis Dietmar Rarhoff 57 ll. Cartels 4. Depression Cartels, Market Structure, and Performance Stephen Martin 85 5. Stability of German Cartels Joachim Schwalbach and Anja Schwerk 101 Ill. Mergers and Merger Policy 6. Market Definition for Media Mergers Bruce R. Lyons 129 7. European Merger Control, Political Discretion, and Efficient Market Structures Alfred Raid 147 8. Foundations of a Bank Merger Control for Europe Doris Neuberger 173 9. Jurisdictional Problems of Merger Control An International Comparison Ingo Schmidt 187 vi Table of Contents IV. Methodological Issues in Industrial Organization 10. Theories of Industrial Organization and Competition Policy What are the Links? Alexis Jacquemin 199 11. Industrial Policy and Industrial Organization David B. Audretsch 223 12. The Use of Game Theoretical Models For Empirical Industrial Organization Karl Aiginger 253 13. Empirical Facts, Economic Theory, and Everyday Experience in Industrial Organization - Three Sides of the Same Story? Markus Thomas Munter 279 V. International Trade 14. Pricing under Changing Exchange Rates: A Critical Survey Thusnelda Tivig 301 15. Export Pricing Behavior under Flexible Exchange Rates The Case of German Automobile Exporters in the US Wolfgang Harbrecht 317 VI. Aggregate Performance 16. Competition and Growth: A Macroeconomic Perspective Rainer Klump 329 17. Efficiency of Social Security Systems Korea's Funded System versus Germany's PAYG System SanghoKim 341 18. On the Economic Decline of Nations Dennis C. Mueller 351 Index of Names 383 Index of Subjects 389 List of Contributors Karl Aiginger: Austrian Institute of Economic Research (WIFO), Vienna, and University of Linz, Austria. David B. Audretsch: Institute of Development Strategies, School of Policy and Environmental Analysis (SPEA), Indiana University at Bloomington, USA, and Centre of Economic Policy Research, London, UK. Paul A. Geroski: London Business School, London, UK. Alfred Haid: Senior research fellow, Deutsches Institut fUr Wirtschaftsforschung (DIW), Berlin, and University of Erlangen-Niirnberg, Germany; doctoral dissertation 1976 and Habilitation 1982 supervised by Professor Neumann. Wolfgang Harbrecht: University of Erlangen-Niirnberg, Germany; doctoral disser tation 1973 and Habilitation 1977 supervised by Professor Neumann. Dietmar Harhoff: Zentrum fUr Europaische Wirtschaftsforschung (ZEW), Mannheim and Wissenschaftszentrum fiir Sozialforschung Berlin (WZB), Germany. Alexis Jacquemin: Chief Economic Advisor of the European Commission, Brussels, and Universite Catholique de Louvain, Belgium. Sangho Kim: Kwandong University, Kangreung, and Presidential Commission on Industrial Relations Reform, Seoul, South Korea; doctoral dissertation 1992 super vised by Professor Neumann. Rainer Klump: University of Ulm, Germany; Habilitation 1991 supervised by Professor Neumann. Bruce R. Lyons: University of East Anglia, Norwich, UK. Stephen Martin: Centre for Industrial Economics, Institute of Economics, University of Copenhagen, Denmark. Dennis C. Mueller: University of Vienna, Austria. Markus T. Munter: University of Erlangen-Niirnberg, Germany; doctoral student of Professor Neumann. viii Contributors Doris Neuberger: University of Rostock, Germany; doctoral dissertation 1989 and Habilitation 1993 supervised by Professor Neumann. Ingo Schmidt: University of HohenheirnlStuttgart, Germany. Joachim Schwalbach: Institute of Management, Humboldt-University at Berlin, Germany. Anja Schwerk: Institute of Management, Humboldt-University at Berlin, Germany. Thusnelda Tivig: University of Rostock, Germany; Habilitation 1993 supervised by Professor Neumann. Jurgen Weigand: University of Erlangen-Niirnberg, Germany; doctoral dissertation 1994 supervised by Professor Neumann. Preface The idea to honor Professor Neumann with a Festschrift that not only assembles his pupils but also internationally renowned scholars was born in early 1997. Editing a book of essays is a venture that highly depends on the enthusiasm of the contributing authors. We would like to warmly thank all contributors for their motivated and timely cooperation. Due to limitations in space as well as in order to guarantee compactness as regards contents the essays in this book only cover some of the various fields in economics Professor Neumann has contributed to over the years. We gratefully acknowledge the advice and administrative support of Professor Dr. Karl-Dieter Griiske (Executive Director of the Department of Economics, Norn berg). Many thanks for their enormous effort in preparing the manuscript and in helping organize the birthday symposium go to the staff of Professor Neumann's institute: Mrs Ursula Briceno La Rosa, Diplom-Volkswirt Udo Eich, Diplom-Sozial wirt Uli Fell, Diplom-Volkswirtin Alexandra GroB, and Diplom-Volkswirt Markus Thomas Monter. Wien - Berlin - Nornberg Dennis C. Mueller May 1998 Alfred Raid Jiirgen Weigand MANFRED NEUMANN About Manfred Neumann Dennis C. Mueller, Alfred Haid, and Jurgen Weigand Many of us owe a great debt of gratitude to Manfred Neumann, as a teacher and colleague. Thus, it is no surprise that there was great enthusiasm for writing a collection of essays on competition and competition policy which would Manfred's life achievements commemorate. This collection of papers in honor of Manfred Neumann was prepared as a tribute to a teacher and scholar, whose accomplishments have enriched various fields of economics. The breadth of his interests are reflected in the breadth of topics covered in this volume. Born on May 16, 1933, Manfred Neumann belongs to the generation of Germans of the early thirties, whose school education was interrupted by World War II and was influenced by the poor economic conditions of the post-war period. His early years are probably typical of a number of scholars of his age. After completing his school education by supplementary evening courses 1956 in Bremen he studied economics at the University of Cologne. He graduated in 1960 and started a career in commercial business. During this time he collected valuable knowledge of the workings of cartels related to the export of iron and steel. He returned to the university in 1962, and received his doctoral degree in economics in 1963. He became an assistant of Theodor Wessels, at that time one of the leading neo-liberals in Germany. After his Habilitation in 1966, Neumann was a lecturer in economics at the University of Cologne until 1967. During this period, he also held a guest professorship at the University of Mfinster. In 1969 Manfred Neumann was appointed Professor of economics at Niirnberg University. From 1974 to 1977 he was Dean of the Faculty of Economics and Social D.C. Mueller et at. (eds.), Competition, Efficiency, and Welfare, 1-10. © 1999 Kluwer Academic Publishers.
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