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Joe Bain

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Joe Staten Bain(4 July 1912,Spokane, Washington– 7 September 1991,Columbus, Ohio) was an American economist associated with theUniversity of California, Berkeley.Bain was designated aDistinguished Fellowby theAmerican Economic Associationin 1982.[1]An accompanying statement referred to him as "the undisputed father of modernIndustrial OrganizationEconomics. "[2][3]

Background and career

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Bain received anA.B.from UCLA in 1935. He studied atHarvard,where he was also an Economics instructor from 1936 to 1939. There he received anM.A.in 1939 andPh.D.in 1940,[4][5]under the direction ofJoseph Schumpeter,[3]Edward ChamberlinandEdward Mason.The title of his dissertation was "The Value, Depreciation and Replacement of Durable Capital Goods".

Bain was appointed Lecturer at the University of California, Berkeley in 1939 and served there until his retirement in 1975.[5]He also served in 1960 as director of studies at the California Water Industry.[3]

Contributions

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Bain was a prolific author, at both the theoretical andappliedlevel. Major works includedThe Economics of the Pacific Coast Petroleum Industry(1944-1947)[6]described as "a landmark in the application and empirical testing of the hypotheses ofmicroeconomic theory."[2]His work in the 1950s culminated inBarriers to New Competition(1956),[7]andIndustrial Organization: ATreatise(1959).[8]

Bain developed theparadigmofstructure, conduct, and performanceas related to the industry, distinct from individual firms or industries.[8][9]It postulated and testedbarriers to entryas a determinant of industry performance.[7]Market concentrationwas analyzed concerningmarket powerandrate of profit.[3]

Selected works

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  • 1941. "The Profit Rate as a Measure of Monopoly Power,"Quarterly Journal of Economics,55(2), pp.271-293.
  • "Market Classifications in Modern Price Theory,"Quarterly Journal of Economics,56(4), pp.560-574.
  • 1944–1947. "The Economics of the Pacific Coast Petroleum Industry" (3 vols.).
  • 1948.Pricing, Distribution and Employment: Economics of an Enterprise System,Holt.
  • 1948. "Price and Production Policies," in Howard Ellis, ed.,A Survey of Contemporary Economics,Blakiston, pp. 129–173.
  • 1950 "A Note on Pricing in Monopoly and Oligopoly,"American Economic Review,40(2), pp.35-47.
  • 1951. "Relation of Profit Rate to Industry Concentration: American Manufacturing, 1936-1940,"Quarterly Journal of Economics,65(3), pp.293-324.
  • 1952. "Price Theory".
  • 1954a. "Economies of Scale, Concentration and the Condition of Entry in Twenty Manufacturing Industries,"American Economic Review,44(1), pp.15-39.
  • 1954b. "Conditions of Entry and the Emergence of Monopoly," inMonopoly and Competition and Their Regulation,Edward H. Chamberlin,ed., Macmillan, pp. 215–41.
  • 1966a. "Chamberlin's Impact on Microeconomic Theory," inMonopolistic Competition Theory,Robert Kuenne, ed.
  • 1966b.International Differences in Industrial Structure: Eight Nations in the 1950s,Yale University Press, 1966.Abstract.
  • 1966.Northern California's Water Industry,withRichard E. Cavesand Julius Margolis, Johns Hopkins Press for Resources for the Future.
  • 1970.Essays on Economic Development,Institute of Business and Economic Research, University of California.
  • 1972.Essays on Price Theory and Industrial Organization,Littre, Brown.
  • 1973.Environmental Decay: Economic Causes and Remedies,Little, Brown.
  • 1986. "Structure Versus Conduct as Indicators of Market Performance: The Chicago School Events Revisited,"Antitrust Law and Economics Review.Preview.

Notes

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  1. ^Along withGérard Debreuthat year perAEAweb: Distinguished Fellows.
  2. ^ab• 1983. "Joe S. Bain: Distinguished Fellow 1982,"American Economic Review,73(3) [2 unnumbered front pages.]
    • Frederick E. Balderston and George F. Break.Joe S. Bain Jr., Economics: Berkeley - California Digital Library.
  3. ^abcdWilliam G. Shepherd. "Bain, Joe Staten (1912–1991),"The New Palgrave Dictionary of Economics,2nd Edition.Extract
  4. ^Joe S. Bain, 1986. "Structure Versus Conduct as Indicators of Market Performance,"Antitrust Law and Economics Review.Thumbnailbio.
  5. ^abFrederick E. Balderston and George F. Break.Joe S. Bain Jr., Economics: Berkeley.California Digital Library
  6. ^Joe S. Bain,The Economics of the Pacific Coast Petroleum Industry,University of California Press:
    • 1944, v.1.Market Structure,chapter-previewlinks
    • 1945. v. 2,Price Behavior and Competition
    • 1947. v. 3.Public Policy toward Competition and Pricing
  7. ^abJoe S. Bain, 1956.Barriers to New Competition: Their Character and Consequences in Manufacturing,Harvard University Press. Review extracts[1].
  8. ^abJoe S. Bain, 1959, 2nd ed., 1968.Industrial Organization: A Treatise,John Wiley.
  9. ^Leonard W. Weiss, 1979. "The Structure-Conduct-Performance Paradigm and Antitrust,"University of Pennsylvania Law Review,127(4) p.1104.
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