| Feb. 18 T |
8. Competition: Sunk Costs and Innovation Arms Races
*Stiglitz, Joseph, "Technological Change, Sunk Costs, and Competition," Brookings Papers on Economic Activity, 1987, Issue 3, pp. 883-937. (Just skim pp. 911-925.) (Adam, Rich)
Baumol, Chapter 3,4. (Brian, Tom)
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| Feb. 20 Th |
9.
*Kohn, Meir, and John Scott, "Scale Economies in Research and Development: The Schumpeterian Hypothesis," Journal of Industrial Economics, Vol. 30, No. 3, March, 1982, pp. 239-249. (Brotzman, Cindy)
Olegario, Rowena, "IBM and the Two Thomas J. Watsons," Chapter 10 in Thomas McCraw, ed., Creating Modern Capitalism, Harvard University Press, 1995. (Saleh, Yogi)
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| Feb. 25 T |
10. Entrepreneurship, Law, and Government
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| Feb. 27 Th |
11.
*Murphy, Kevin, Andrei Shleifer, and Robert Vishny, "The Allocation of Talent: Implications for Growth," The Quarterly Journal of Economics, Vol. 106, No. 2, 1991, pp. 503-530. (Lauren, Oksana)
Optional: Koehn, Nancy, "Josiah Wedgwood and the First Industrial Revolution," Chapter 2 in Thomas McCraw, ed., Creating Modern Capitalism, Harvard University Press, 1995.
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| March 4 T |
12. Interdependence and Consortia
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*Baumol, Chapter 6-7. (Markus, Stephen)
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| March 6 Th |
13.
Temin, Peter, "The Industrialization of New England: 1830-1880," NBER Historical Paper 114, February 1999. (Z)
Rosenberg, Nathan, "Technological Interdependence in the American Economy," Chapter 3 in Inside the Black Box: Technology and Economics, Cambridge University Press, 1982.
Optional: Nye, David, "Flexible Factory," Chapter 5 in Electrifying America, MIT Press, 1990.
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Spring Break |
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| March 25 T |
14. Compatibility and Standards
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| March 27 Th |
15.
*Arthur, W. Brian, "Competing Technologies, Increasing Returns, and Lock-in by Historical Events," Economic Journal, Vol. 99, No. 1, 1989, pp. 116-131. (Hema, Veer)
David, Paul, "Clio and the Economics of QWERTY," American Economic Review Papers and Proceedings, Vol. 75, No. 2, May, 1985, pp. 332-337.
Optional: Puffert, Douglas, "The Standardization of Track Gauge on North American Railways, 1830-1890," The Journal of Economic History, Vol. 60, No. 4, December 2000, pp. 933-960.
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| April 1 T |
16.
*Cremer, Jacques, Patrick Rey, and Jean Tirole, "Connectivity on the Commercial Internet," Journal of Industrial Economics, Vol. 48, No. 4, December 2000, pp. 433-472. (Only read through the end of section IV.) (Greg, Tom)
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| April 3 Th |
17. Bottlneck Access
Faulhaber, Gerald, "Access ≠ Access1 + Access2," The Law Review of Michigan State University, Vol. 677, 2002. (Barrett, Stephen)
*Baumol, Chapter 13. (Abdullah, Z)
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| April 8 T |
20. Pricing and Price Discrimination
*Baumol, Chapter 9-10. (Danny, Haley)
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| April 10 Th |
21.
Vickrey, William, "Some Objections to Marginal Cost Pricing," Journal of Political Economy, Vol. 56, No. 3, 1948, pp. 218-238. (Brian, Rick)
Perelman, Michael, "Retrospectives: Fixed Capital, Railroad Economics and the Critique of the Market," Journal of Economic Perspectives, Vol. 8, No. 3, 1994, pp. 189-195. (Brotzman, Adam)
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| April 15 T |
18. Spillovers
*Baumol, Chapter 8. (Lisa, Naa)
Clement, Douglas, "Was Napster Right?," The Region, Federal Reserve Bank of Minneapolis, Sept. 2002. (Abdullah, Marcus)
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| April 17 Th |
19.
Arrow, Kenneth, "Economic Welfare and the Allocation of Resources for Invention," in Richard Nelson, ed., The Rate and Direction of Inventive Activity, Princeton University Press, 1962, pp. 609-625.(Greg, Haley)
*Bresnahan, Timothy, and M. Trajtenberg, "General Purpose Technologies 'Engines of Growth'?" Journal of Econometrics, Vol. 65, 1995, pp. 83-108. (Saleh, Yogi)
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| April 22 T |
22. Conclusion
Review of complementarities and spillovers (Barrett, Cindy)
Review of other topics (Prof. Hogendorn)
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