Selected Empirical Papers in Industrial Organization
compiled by Tom Hubbard, 3/2/98 version.

This is a list of (mostly recent) empirical papers in IO, loosely placed into a number of categories. This is by no means an exhaustive list, but it is fairly representative of mainstream empirical work. I constructed this list while thinking about the course I will offer in the third quarter. Although it is still very much under construction, it is likely that the reading list for that course will look something like this.

I post this now for three reasons. First, I want to advertise the kind of course that I plan to offer. Second, several people have asked me for lists of references for different topics -- so here they are. And third, I am soliciting suggestions for papers or topics to add to this list.

This list is a mix of well-known extensively-cited papers, and very recent (often unpublished) work. The quality threshold for inclusion on this list is much higher for anything dated before 1994 than after. In fact, I have intentionally not been discriminating at all with respect to the most recent papers.

If you are interested in any of these papers, I have copies of most of them on hand, and would be willing to lend them out for photocopying.


Structural Models of Supply and Demand

Christensen and Greene, "Economies of Scale in U.S. Power Generation," Journal of Political Economy, 84 (August 1976), 655-676.

Crawford, "The Impact of the 1992 Cable Act on Consumer Demand and Welfare," mimeo, December 1995.

Cummins and Hassett, "The Giant Sucking Sound: Structural Estimates of Factor Substitution from Firm-Level Panel Data on Multinational Corportations," mimeo, June 1997.

Dubin and McFadden, "An Econometric Analysis of Residential Electrical Appliance Holdings and Consumption," Econometrica, March 1994, 345-362.

Evans and Heckman, "A Test of Subadditivity of the Cost Function with an Application to the Bell System," American Economic Review, September 1984, 615-623.

Olley and Pakes, "The Dynamics of Productivity in the Telecommunications Equipment Industry," Econometrica, November 1996, 1263-97.

Train and Mehrez, "Optional time-of-use prices for electricity: Econometric analysis of surplus and Pareto impacts," Rand Journal of Economics v25, n2 (Summer 1994):263-283.

White, "Dynamic Efficiency and the Regulated Firm: Evidence from Interfirm Trade in Electricity Markets," mimeo, September 1995.

Wolak, "Estimating Regulated Firm Production Functions with Private Information: An Application to California Water Utilities," mimeo, 1992.

Wolak, "The Consumption and Welfare Impacts of Competitive Telecommunications Supply: A Household-Level Analysis," mimeo, September 1995.

Wolak, "Changes in the Household-Level Demand for Postal Delivery Services from 1986 to 1994," mimeo, May 1996.

Wolak and Patrick, "Estimating the Customer-Level Demand for Electricity Under Real-Time Pricing," mimeo, June 1997.


Hedonic Approaches

Bartik, "The Estimation of Demand Parameters in Hedonic Price Models," Journal of Political Economy, v. 95, n.1 (February 1987).

Berry, Kortum, and Pakes, "Hedonic Cost Functions and the Cost of Producing Automobiles," mimeo, 1996.

Epple, "Hedonic Prices and Implicit Markets: Estimating Demand and Supply Functions for Differentiated Products," Journal of Political Economy, v. 95, n1 (February 1987) 59-80.

Harrison and Rubinfeld, "Hedonic Housing Prices and the Demand for Clean Air," Journal of Environmental Economics and Management, v. 5, 81-102.

Rosen, "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, 82 (February 1974), 34-55.


Oligopoly

Benkard, "Dynamic Equilibrium in the Commercial Aircraft Market," mimeo, December 1997.

Berry, Levinsohn, and Pakes, "Automobile Prices in Market Equilibrium," Econometrica, July 1995, 841-890.

Berry, Levinsohn, and Pakes, "Voluntary Export Restraints on Automobiles: Evaluating a Strategic Trade Policy," mimeo, August 1995.

Berry, Carnell, and Spiller, "Airline Hubs: Cost and Demand," mimeo, November 1993.

Borenstein, "Hubs and High Fares: Dominance and Market Power in the U.S. Airline Industry," Rand Journal of Economics, Autumn 1989, 344-365.

Borenstein and Shepard, "Dynamic Pricing in Retail Gasoline Markets," Rand Journal of Economics, Autumn 1996, 429-51.

Bresnahan, "Competition and Collusion in the American Automobile Industry: The 1955 Price War," Journal of Industrial Economics, June 1987, 457-482.

Bresnahan, "Empirical Studies of Industries with Market Power," Handbook of Industrial Organization, Chapter 17.

Carlton, Bamberger, and Epstein, "Antitrust and Higher Education: Was There a Conspiracy to Restrict Financial Aid?" Rand Journal of Economics, Spring 1995, 131-147.

Dick, "If Cartels Were Legal, Would Firms Fix Prices," mimeo, November 1996.

Ellison, "Theories of Cartel Stability and the Joint Executive Committee," Rand Journal of Economics, Spring 1994, 37-57.

Goldberg, "Product Differentiation and Oligopoly in International Markets: The Case of the U.S. Automobile Industry," Econometrica, July 1995, 891-952.

Nevo, "Measuring Market Power in the Ready-to-Eat Breakfast Cereal Industry," mimeo, 1996.

Porter, "A Study of Cartel Stability: The Joint Executive Committee, 1990-1886," Bell Journal of Economics, Autumn 1983, 301-314.

Porter and Zona, "Ohio School Milk Markets: An Analysis of Bidding," mimeo, July 1997.

Scott Morton, "The Strategic Response by Pharmaceutical Firms to Medicaid Most Favored Customer Rules," Rand Journal of Economics, Summer 1997, 269-90.


Entry, Entry Barriers, and Market Structure

Berry, "Estimation of a Model of Entry in the Airline Industry," Econometrica, 60 (4), 889-918.

Berry and Waldfogel, "Free Entry and Social Inefficiency in Radio Broadcasting," mimeo, November 1996.

Berry and Waldfogel, "Public Radio in the U.S.: Does It Correct Market Failure or Cannibalize Commercial Stations," NBER Working Paper 6057, June 1997.

Bresnahan and Reiss, "Entry and Competition in Concentrated Markets" Journal of Political Economy v99, n5 (Oct 1991):977-1009.

Bresnahan and Reiss, "Do Entry Conditions Vary Across Markets?" Brookings Papers on Economic Activity: Microeconomics, 833-871.

Dunne, Roberts, and Samuelson, "Patterns of Firm Entry and Exit in U.S. Manufacturing Industries," Rand Journal of Economics, Winter 1988, 495-515.

Ellison and Glaeser, "Geographic Concentration in U.S. Manufacturing Industries," Journal of Political Economy, October 1997, 889-927.

Kadiyali, "Entry, Its Deterrence, and Its Accomodation: A Study of the U.S. Photographic Film Industry," Rand Journal of Economics, Autumn 1996.

Reiss and Spiller, "Competition and Entry in Small Airline Markets," Journal of Law and Economics, October 1989, S179-S202.

Scott Morton, "Modeling Entry Decisions in the Generic Pharmeceutical Industry," mimeo, February 1996.

Stern, "Product Demand in Pharmaceutical Markets," mimeo, November 1994.

Sutton, Endogenous Sunk Costs and Entry, MIT Press, 1992.

Sutton, "Game-Theoretic Models of Market Structure," in Advances in Economics and Econometrics: Theory and Applications, Kreps and Wallis eds., Blackwell, Cambridge, 1997.


Price Discrimination

Ayers and Siegelman, "Race and Gender Discrimination in Bargaining for a New Car," American Economic Review, June 1995, 304-321.

Borenstein, "Selling Costs and Switching Costs: Explaining Retail Gas Margins," Rand Journal of Economics, Autumn 1991, 354-369.

Goldberg, "Dealer Price Discrimination in New Car Purchases: Evidence from the Consumer Expenditure Survey," Journal of Political Economy, June 1996, 622-654.

Graddy, "Testing for Imperfect Competition at the Fulton Fish Market," Rand Journal of Economics, Spring 1995, 75-92.

Leslie, "A Structural Econometric Analysis of Price Discrimination in Broadway Theatre," mimeo, November 1997.

Shepard, "Price Discrimination and Retail Configuration," Journal of Political Economy, Spring 1991, 30-53.


Technological Change and Innovation

Bresnahan, Stern, and Trajtenberg, "Market Segmentation and the Sources of Rents from Innovation: Personal Computers in the Late 1980s," Rand Journal of Economcs, Special Issue, 1997.

Bresnahan and Greenstein, "Technical Progress and Co-Invention in Computing and in the Uses of Computers," Brookings Papers on Microeconomics: 1996 (forthcoming).

Dunne, "Plant Age and Technology in U.S. Manufacturing Industries," Rand Journal of Economics, Autumn 1994.

Hubbard, "Why Are Process Monitoring Technologies Valuable:  The Use of On-Board Information Technology in the Trucking Industry," mimeo, January 1998.

Ito, "The Structure of Adjustment Costs in Mainframe Computer Investment," mimeo, November 1995.

Jaffe, Trajtenberg, and Henderson, "Geographic localization of knowledge spillovers as evidenced by patent citations," Quarterly Journal of Economics v108, n3 (Aug 1993):577-598.

Lerner, "An Empirical Exploration of a Technology Race," Rand Journal of Economics, Summer 1997.

Saloner and Shepard, "Adoption of technologies with network effects: An empirical examination of the adoption of automated teller machines," Rand Journal of Economics v26, n3 (Autumn 1995):479-501.

Trajtenberg, "The Welfare Analysis of Product Innovations, with an Application to CAT Scanners," Journal of Political Economy, Summer 1989, 444-479.


Information Imperfections and Product Markets

Ackerberg, "Advertising, Learning, and Consumer Choice in Experience Good Markets: An Empirical Examination," mimeo, January 1996.

Cardon and Hendel, "Asymmetric Information in Health Care and Health Insurance Markets," mimeo, 1996.

Genesove, "Adverse selection in the wholesale used car market," Journal of Political Economy v101, n4 (Aug 1993):644-665.

Genesove, "Search at wholesale auto auctions,"Quarterly Journal of Economics v110, n1 (Feb 1995):23-49.

Hubbard, "An Empirical Examination of Moral Hazard in the Vehicle Inspection Market," Rand Journal of Economics, forthcoming.

Hubbard, "Consumer Beliefs and Buyer and Seller Behavior in the Vehicle Inspection Market," mimeo, August 1997.

Stern and Trajtenberg, "Empirical Implications of Physician Authority in Pharmaceutical Decisionmaking," January 1998.

Wimmer and Chezum, "An Empirical Examination of Quality Certification in a 'Lemons Market'," mimeo, December 1996.

Wilson, "Quality Differentials and Prices: Are Cherries Lemons," Journal of Industrial Economics, December 1991.


Empirical Studies of Auctions

Deltas, "Structural Econometric Analysis of Auctions for Government Construction Contracts in Connecticut," mimeo, 1996.

Hendricks and Porter, "An Empirical Study of an Auction with Asymmetric Information," American Economic Review, December 1988, 865-883.

Hendricks, Porter, and Boudreau, "Information, Returns, and Bidding Behavior in OCS Auctions, 1954-1969," Journal of Industrial Economics, June 1987, 517-542.

Hendricks and Paarsch, "A survey of recent empirical work concerning auctions," Canadian Journal of Economics v28, n2 (May 1995):403-426.

Hendricks, Porter, and Wilson, "Auctions for oil and gas leases with an informed bidder and a random reservation price," Econometrica v62, n6 (Nov 1994):1415-1444.

Hendricks and Porter, "Joint Bidding in Federal OCS Auctions," American Economic Review v82, n2 (May 1992):506-511.

Laffont, Ossard, and Vuong, "Econometrics of first-price auctions," Econometrica v63, n4 (Jul 1995):953-980.

Moreton and Spiller, "Bidding Strategies in Interrelated Multi-Object Auctions: Evidence from the FCC Broadband PCS Auctions," mimeo, January 1997.

Paarsch, "Deciding Between the Common and Private Value Paradigms in Empirical Models of Auctions," Journal of Econometrics v51, n1,2 (Jan/Feb 1992):191-215.

Paarsch, "Deriving an Estimate of the Optimal Reserve Price: An Application to British Columbian Timber Sales," Journal of Econometrics, June 1997, 333-57.

Wolfram, "Strategic Bidding in a Multi-Unit Auction: An Empirical Analysis of Bids to Supply Electricity in England and Wales," mimeo, 1996.


Empirical Studies of Organizational Choice

Anderson and Schmittlein, "Integration of the Sales Force: An Empirical Examination," Rand Journal of Economics v15, n3 (Autumn 1984):385-395.

Athey and Stern, "An Empirical Framework for Testing for Complementarities," mimeo, July 1996.

Brickley and Dark, "The Choice of Organizational Form: The Case of Franchising," Journal of Financial Economics v18, n2 (Jun 1987):401-420.

Joskow, "Contract Duration and Relationship-Specific Investments: Empirical Evidence from Coal Markets," American Economic Review v77, n1 (Mar 1987):168-185.

Joskow, "The Performance of Long-Term Contracts: Further Evidence from Coal Markets" Rand Journal of Economics v21, n2 (Summer 1990):251-274.

Lafontaine, "Agency Theory and Franchising: Some Empirical Results," Rand Journal of Economics v23, n2 (Summer 1992):263-283.

Lafontaine and Slade, "Retail Contracting: Theory and Practice," Journal of Industrial Economics, March 1997, 1-25.

Masten, "The Organization of Production: Evidence from the Aerospace Industry," Journal of Law & Economics v27, n2 (Oct 1984):403-417.

Rose and Shepard, "Firm Diversification and CEO Compensation: Managerial Ability of Executive Entrenchment?" Rand Journal of Economics, Autumn 1997.

Shepard, "Contractual form, retail price, and asset characteristics in gasoline retailing," Rand Journal of Economics v24, n1 (Spring 1993):58-77.