Classroom market experiments can complement the theoretical orientation of standard industrial organization courses. This paper describes various experiments designed for such courses, and presents details of a multi-market game with entry and exit. In this experiment incumbents have a cost advantage in their ‘home’ markets, and mobile firms decide which market to enter. After entry decisions a...

Follow this and additional works at: http://scholarship.law.upenn.edu/faculty_scholarship Part of the Banking and Finance Commons, Bankruptcy Law Commons, Business Administration, Management, and Operations Commons, Comparative and Foreign Law Commons, Corporate Finance Commons, Corporation and Enterprise Law Commons, Finance Commons, Industrial Organization Commons, Law and Economics Commons, ...

This paper draws attention to the profound changes that human civilization is experiencing as it moves from an industrial environment into an information environment, in which unprecedented emphasis is placed on the knowledge and capabilities of the individual. A clear distinction is drawn between data and information in relationship to computer-based facilities, and the transition of data-proc...

ore than one commentator has observed that a distinct theory of the firm is conspicuously missing from the main body of Austrian economics (e.g., Langlois 1991, p. 2; Minkler 1991, p. 8). As two Austrian economists observed some years ago: "there is no subjectivist or Austrian theory of the firm" (O'Driscoll and Rizzo 1985, p. 123). That is still the situation. With the term "theory of the firm...

The increasing diffusion of automation in all sectors of the industrial world gives rise to a deep modification of labor organization and requires a new approach to evaluate industrial systems efficiency, effectiveness, and economic convenience. Until now, the evaluation tools and methods at disposal of industrial managers are rare and even complex. Easy-to-use criteria, possibly based on robus...

The transition from a hunter-gather economy to agricultural production, which made possible the endogenous technological progress that ultimately led to the industrial revolution, is one of the most important events in the thousands of years of humankind’s economic development. In this paper we present theory and evidence showing that exogenous geography and initial condition biogeography exert...

since the time of western modernity, knowledge is compartmentalized into differentiated fields. this has however not mitigated the influence of natural science model of theorizing on social sciences. as a result, the discipline of organization theory has grown without the influence of abstract, ephemeral and metaphysical fields such as religion, history, mystic philosophy, arts and literature. ...