Bachelor of Arts (History) Stanford University, 1968. BLitt (Political) University Oxford, 1971. MPhil, Doctor of Philosophy Yale University, 1972, 1974.
Assistant Professor, Association Professor, Yale University, 1974-1979, 1979-1982. Professor Economics and Management, Yale University, New Haven, Connecticut, United States of America, since 1982. Co-editor, Research Policy, m2-.
My earliest work focussed on the relationship between technological change and industrial market structure, emphasising the endogenous determination of seller
concentration in contrast to the prevailing structure-conduct-performance paradigm in industrial organisation. This work highlighted the role of technological change in extending the range of output over which scale economies are realised. My interest turned next to the consequences of economic regulation in the United States freight transportation industry.
In a series of econometric papers I studied the effects of regulating railroad rates, mergers and route abandonments. In a subsequent pair of papers I simulated the effects of partial and complete deregulation on railroad rates, profitability and welfare. Recently I have returned to the economics of technological change, concentrating on three subjects: (1) the impact of government policy on the evolution of the United States semiconductor industry, (2) inter-industry differences in R & D appropriability and technological opportunity, and (3) simultaneous equations models of industrial R & D and market structure.
I have also studied the effects of vertical integration in the oil industry and, more recently, the welfare consequences of alternative antitrust rules constraining the behaviour of dominant firms.