Profits in the Long Run

"This book reaffirms much of the core of mainstream industrial organization and thus is an important work for readers of this Review....The book presents a wealth of econometric results, using a variety of econometric methods...Mueller is, in all this, uncompromisingly objective and technically proficient. The book bristles with interesting research methods, some of them quite imaginative and all of them as strong as the data and current knowledge permit....Professor Mueller has raised here a number of other exciting issues that can't be covered in this brief review but all of them add to the importance and originality of this study. This book belongs on the desk of every specialist in industrial organization and others who're involved in the making of antitrust policy." Antitrust Law and Economics Review

• Acknowledgements; 1. The persistence of firms; 2. The persistence of profits above the norm; 3. The persistence of market power; 4. Profitability and market structure; 5. The results in perspective; 6. Profitability and the firm's own advertising, patent activity, risk, and other characteristics; 7. Profitability and managerial control and compensation; 8. Mergers and profitability; 9. Mergers and market share; 10. The threads gathered and conclusions woven; Appendices; Notes; References; Index.