Stephen Salant

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Stephen Salant is an economist, who has done extensive research on renewable and non-renewable resources. He employs mathematics and statistics in his work. He earned his B.A. in mathematics at Columbia University in 1967, and his Ph.D. in economics at the University of Pennsylvania in 1973. He has worked worldwide. Currently, Dr. Salant is Professor of Economics at the University of Michigan.

[edit] Publications

He has published numerous papers including:

  • "Exhaustible Resources and Industrial Structure: A Nash-Cournot Approach to the World Oil Market," Journal of Political Economy, October l976.
  • "Search Theory and Duration Data: A Theory of Sorts," Quarterly Journal of Economics, November l976---anthologized in the International Library of Critical Writings volume entitled The Economics of Unemployment edited by P.N. Junakar, The International Library of Critical Writings in Economics, 2000.
  • "Hirshleifer on Speculation," Quarterly Journal of Economics, November l976.
  • "Market Anticipation of Government Policies and the Price of Gold" (with D. Henderson), Journal of Political Economy, August l978 -- anthologized in Bhattacharya and Constanides' Classics in Finance, l986.
  • "Staving Off the Backstop: Dynamic Limit Pricing with a Kinked Demand Curve," in R.W. Pindyck (ed.), Advances in the Economics of Energy and Resources, JAI Press, Greenwich, Conn., l979.
  • "Recurrence of a Modified Random Walk and Its Application to an Economic Model" (with Roberta Wenocur), SIAM Journal of Applied Mathematics, February l98l.
  • Imperfect Competition in the International Energy Market: A Computerized Nash-Cournot Model, D.C. Heath and Company, Lexington, Mass., l98l.
  • "Analytical Underpinnings of a Computerized World Oil Model," Operations Research, Spring l982.
  • "The Vulnerability of Price Stabilization Programs to Speculative Attack," Journal of Political Economy, February l983. Reprinted in The Economics of Information, edited by David Levine and Steve Lippman, 1995.
  • "Losses from Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium" (with R. Reynolds and S. Switzer), Quarterly Journal of Economics, May l983--reprinted in Cournot Oligopoly: Characterization and Applications, edited by Andrew Daughety, Cambridge University Press, 1988.
  • "The Length of Optimal Extraction Programs When Depletion Affects Extraction Costs" (with T. Lewis and M. Eswaran), Journal of Economic Theory, December l983.
  • "A Theory of Futures Market Manipulations," extensive discussion of Pete Kyle's paper in The Industrial Organization of Futures Markets, edited by Ronald W. Anderson, D.C. Heath and Company, Lexington, Mass., l984.
  • "A Self-Enforcing Multilateral Agreement Among Oil-Importing Countries," Contemporary Policy Issues, March l984.
  • "Comment on Gilbert and Newbery's 'Preemptive Patenting and the Persistence of Monopoly,'" American Economic Review, March l984.
  • "A Misguided Energy Program: Reshaping OECD's Oil-Sharing Plan" (with R. Smith), New York Times, Sunday Forum, November 4, l984. Supporting editorial appeared in New York Times, November l6, l984.
  • "Cartels that Vote: Agricultural Marketing Boards and Induced Voting Behavior" (with J. Cave), Public Regulation: New Perspectives on Institutions and Policies, edited by Elizabeth Bailey, and published by MIT Press, l987.
  • "Ending the Hidden Subsidy to South Africa," Newsday, July 10, 1987 (reprinted in the Ann Arbor News, August 5, 1987).
  • "The Positive and Normative Consequences of Treble Damage Awards in Private Lawsuits for Price Fixing," Journal of Political Economy, December 1987.
  • "When is Inducing Self-Selection Suboptimal for a Monopolist?" Quarterly Journal of Economics, May 1989.
  • "Durable-Goods Monopoly with Discrete Demand" (with M. Bagnoli and J. Swierzbinski), Journal of Political Economy, December 1989.
  • "Predicting Committee Behavior in Majority-Rule Experiments" (with E. Goodstein), Rand Journal, Summer 1990.
  • "Existence and Uniqueness of Cournot Equilibrium: New Results from Old Methods" (with G. Gaudet), Review of Economic Studies, April 1991.
  • "Increasing the Profits of a Subset of Firms in Oligopoly Models with Strategic Substitutes" (with G. Gaudet), American Economic Review, June 1991.
  • "When to Use a Broker and How to Price the House" Journal of Real Estate Finance and Economics, June 1991.
  • "Towards a Theory of Horizontal Mergers" (with G. Gaudet) chapter 7 in The New Industrial Economics edited by G. Norman and M. La Manna (Edward Elgar Publishers), 1992.
  • "Mergers of Producers of Perfect Complements Competing in Price" (with G. Gaudet) Economic Letters, vol. 39, 1992.
  • "Intertemporal Self-Selection with Multiple Buyers under Complete Information" (with M. Bagnoli and J. Swierzbinski), Economic Theory, vol 5, 1995.
  • "Deducing Implications of Fitness Maximization When a Tradeoff Exists Among Alternative Currencies" (with K. Kalat and A. Wheatcroft), Behavioral Ecology, vol. 6, no. 4, winter 1995.
  • "The Economics of Natural Resource Extraction: A Primer for Development Economists," World Bank Research Observer, February 1995.
  • "Cartel Quotas under Majority Rule" (with J. Cave), American Economic Review, March 1995. Reprinted in Agricultural Markets: Mechanisms, Failures and Regulations edited by David Martimort, North Holland (July 1996).
  • "Game Theory and the Law: Is Game Theory Ready for Prime Time?" (coauthored with T. Sims), Michigan Law Review, May 1996.
  • "Optimal Asymmetric Strategies in Research Joint Ventures" (with G. Shaffer), International Journal of Industrial Organization,

March 1998.

  • Microeconomics in Practice (ISBN 0-393-97472-3), 1999---a website of applications, questions, and answers published (electronically) by W.W. Norton, New York [1]
  • "When is the Standard Analysis of Common Property Extraction under Free Access Correct?---A Game-Theoretic Justification for Non Game-Theoretic Analyses" (with R. Brooks, M. Murray, and J. Cotroneo), Journal of Political Economy, August 1999.
  • "Unequal Treatment of Identical Agents in Cournot Equilibrium: Private and Social Advantages" (with G. Shaffer), American Economic Review, June 1999.
  • "Restricting the Trash Trade" (with Eduardo Ley and Molly Macauley), American Economic Review, May 2000.
  • "Intertemporal Depletion of Resource Sites by Spatially Distributed Users" (with G. Gaudet and M. Moreaux), American Economic Review, September 2001.
  • "Spatially and Intertemporally Efficient Solid Waste Management," (with E. Ley and M. Macauley), Journal of Environmental Economics and Management, March, 2002.
  • "Private Storage of Common Property" (with G. Gaudet and M. Moreaux), Journal of Environmental Economics and Management, March 2002.
  • "Comment on `Eco-Labelling, Environment, and International Trade' by

Kenzo Abe, Keisaku Higashida, and Jota Ishikawa," in Issues and Options for U.S.-Japan Trade Policies (edited by R. Stern), UM Press, 2002

  • "Should the Same Antibiotic be Prescribed for Everyone Suffering at the Same Time from the Same Infection? Commentary on Rowthorn, Brown, Laxminarayan, and Weitzman" in Battling Resistance to Antibiotics and Pesticides: An Economic Approach (edited by R. Laxminarayan), Johns Hopkins University Press, 2003
  • "The Effects of Periodic Quotas Limiting the Stock of Imported Durables" (with Gerard Gaudet), Journal of Economic Theory, April 2003
  • "The Economics of Mutualisms: Optimal Utilization of Mycorrhizal Mutualistic Partners by Plants" (with Miroslav Kummel), Ecology, April 2006
  • "The Benefits of Expediting Government Gold Sales: Simulation Results" (with Dale Henderson, John Irons, and Sebastian Thomas), Review of Financial Economics, forthcoming
  • "Cartels" (two volumes), coedited with Margaret Levenstein, Edward Elgar (forthcoming, 2007)
  • Book Review: Michael Kremer and Rachel Glennerster’s "Creating Incentives for Pharmaceutical Research on Neglected Diseases," Economic Development and Cultural Change (forthcoming, summer 2007)