Stephen W. Salant
University Fellow
Stephen Salant is an applied microtheorist with a specialization in the fields of industrial organization and natural resource economics. In industrial organization, he is best known for his papers on exogenous horizontal mergers and on intertemporal price discrimination. In natural resource economics, he contributed the first article on oligopoly and the oil cartel (1976) and the first article on the drilling and extraction of exhaustible resources subject to underground pressure (2018).
In the intervening years, he has investigated: the appropriate interpretation of government statistics on the duration of unemployment, the effects of anticipated and actual government policies on the price of gold, the cause of speculative attacks on government bufferstocks, the effects of catch-sharing partnerships on the utilization of common properties, the effects on cap-and-trade programs of regulatory uncertainty, delayed compliance and price floors, and the economic decisions of quantity-restricting political organizations (agricultural marketing boards, cartels, international commodity organizations, prorationing boards, etc.)
Education
- PhD in economics, University of Pennsylvania 1973
- BA in mathematics, Columbia University, 1967
Featured Content
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Working Paper — Feb 28, 2024
Spending and Pricing to Deter Arbitrage
This working paper presents examples of arbitrage deterrence from the pharmaceutical, chemical, and auto industries and uses them to generalize several models of arbitrage deterrence.
Working Paper — Mar 1, 2021
Arbitrage Deterrence: A Theory of International Drug Pricing
Arbitrage Deterrence: A Theory of International Drug Pricing
Journal Article — Sep 29, 2017
Balancing the Carbon Budget for Oil: The Distributive Effects of Alternative Policies
Balancing the Carbon Budget for Oil: The Distributive Effects of Alternative Policies
Resources Magazine — Apr 4, 2017
What Private Tolling Gets Wrong for America’s Roads
To reduce road congestion, Republicans propose delegating the repair, expansion, and construction of roads to private firms, to be financed by priv...
Working Paper — Feb 28, 2024
Spending and Pricing to Deter Arbitrage
This working paper presents examples of arbitrage deterrence from the pharmaceutical, chemical, and auto industries and uses them to generalize several models of arbitrage deterrence.
Working Paper — Mar 1, 2021
Arbitrage Deterrence: A Theory of International Drug Pricing
Arbitrage Deterrence: A Theory of International Drug Pricing
Journal Article — Sep 29, 2017
Balancing the Carbon Budget for Oil: The Distributive Effects of Alternative Policies
Balancing the Carbon Budget for Oil: The Distributive Effects of Alternative Policies
Working Paper — Jun 25, 2015
What Ails the European Union's Emissions Trading System? Two Diagnoses Calling for Different Treatments
What Ails the European Union's Emissions Trading System? Two Diagnoses Calling for Different Treatments
Resources Magazine — Apr 4, 2017
What Private Tolling Gets Wrong for America’s Roads
To reduce road congestion, Republicans propose delegating the repair, expansion, and construction of roads to private firms, to be financed by priv...
Common Resources — Aug 10, 2009
The New Economics of Managing the Nation's Waste
While the development of large, state-of-the-art landfills encouraged greater interstate shipments of solid waste, regulations and taxes affecting ...