Table of Contents

PART I CREATING ECONOMIC VALUE.
1. Reasoning with Economics: Models and Information.
2. Transactions and Institutions: The Building Blocks.
PART II MARKETS.
3. Markets.
4. Cost and Production.
5. Extreme Markets I: Perfect Competition.
6. Extreme Markets II: Monopoly.
7. Between the extremes: Interaction and Strategy.
8. Competition and Strategy.
PART III CONTRACTS.
9. Beyond Markets; Property and Contracts.
10. The Economics of Contracts.
11. Risk and Information in Contracts.
PART IV ORGANIZATIONS.
12. Organizations in Concept and Practice.
13. Organizational Design.
PART V APPLICATIONS: VERTICAL INTEGRATION AND EMPLOYMENT.
14. Vertical Relationships.
15. Employment Relationships.
16. Time, Risk and Options.
17. Conflict, Negotiation and Group Choice.

About the Author

Robert J. Michaels is a Professor of Economics at California State University, Fullerton, and Daniel Haan Research Fellow in Law and Economics. He is also an independent consultant to the electricity and natural gas industries. He holds an A.B. from the University of Chicago and a Ph.D from the University of California, Los Angeles, both in economics. His past positions include Staff Economist at the Institute for Defense Analyses and Senior Advisor to Hagler Bailly Consulting (now PA Consulting). He is an Adjunct Scholar at the Texas Public Policy Foundaton, the Cato Institute, the Institute for Energy Research and the National Center for Policy Analysis.
His research on electricity and gas restructuring, measuring and constraining market power, vertical integration, and renewable energy requirements has appeared in industry and scholarly journals including Public Utilities Fortnightly, The Electricity Journal, Regulation, Antitrust Bulletin, Review of Industrial Organization, and Energy Law Journal. He is also Co-Editor of Contemporary Economic Policy, a peer-reviewed journal of the Western Economic Association. He has advised state commissions, electric utilities, power marketers, natural gas producers, pipelines, public interest groups, and governments on regulatory and antitrust matters. He has testified before the Federal Energy Regulatory Commission, the California Public Utilities Commission, the Illinois Commerce Commission, and the U.S. House Subcommittee on Energy and Power.

Reviews

PART I CREATING ECONOMIC VALUE. 1. Reasoning with Economics: Models and Information. 2. Transactions and Institutions: The Building Blocks. PART II MARKETS. 3. Markets. 4. Cost and Production. 5. Extreme Markets I: Perfect Competition. 6. Extreme Markets II: Monopoly. 7. Between the extremes: Interaction and Strategy. 8. Competition and Strategy. PART III CONTRACTS. 9. Beyond Markets; Property and Contracts. 10. The Economics of Contracts. 11. Risk and Information in Contracts. PART IV ORGANIZATIONS. 12. Organizations in Concept and Practice. 13. Organizational Design. PART V APPLICATIONS: VERTICAL INTEGRATION AND EMPLOYMENT. 14. Vertical Relationships. 15. Employment Relationships. 16. Time, Risk and Options. 17. Conflict, Negotiation and Group Choice.