Competition, Efficiency, and Welfare, 1991
Essays in Honor of Manfred Neumann

Competition, Efficiency and Welfare contains a collection of papers in honor of Manfred Neumann. This collection was prepared as a tribute to a teacher and scholar, whose accomplishments have enriched various fields of economics. The magnitude of his interests is reflected in the breadth of topics covered in this volume: industrial economics, competition policy and related topics. However, if one unifying principle runs through Manfred Neumann's work, it is the belief in the power of competition.
Born on May 16, 1933, Manfred Neumann studied economics at the University of Cologne. He graduated in 1960. In 1969 Manfred Neumann was appointed Professor of Economics at Nürnberg University. He was Dean of the Faculty of Economics and Social Sciences of the University of Erlangen-Nürnberg, President of the European Association for Research in Industrial Economics (EARIE) and Chairman of Industrial Organization Study Group of the Verein fürSozialpolitik. Most of his professional career has been spent at Nürnberg, where he has helped to make the Economic Institute one of the leading research centers in Industrial Organization. He has also been involved in various advisory activities.
The volume contains 18 essays. The first twelve are grouped into four categories: Innovation and R&D (Part I), Cartels (Part II), Mergers and Merger Policy (Part III), and Methodological Issues in Industrial Organization (Part IV). These papers fall within the bounds of industrial economics, which has been Manfred Neumann's primary research interest throughout his career. Part V includes two papers on theories of international trade, which has been a recurring topic of interest for Manfred Neumann through the years. The last three papers look at broader policy and macroeconomic issues.
Contributors to this volume include Karl Aiginger, David B. Audretsch, Paul A. Geroski, Stephen Martin and Dennis Mueller.

Preface. List of Contributors. Introduction: About Manfred Neumann; D.C. Mueller, et al. I: Innovation and R&D. 1. Innovation as an Engine of Competition; P.A. Geroski. 2. Innovation, Investment, and Corporate Finance; J. Weigand. 3. Vertical Organization, Technology Flows and R&D Incentives: An Explanatory Analysis; D. Harhoff. II: Cartels. 4. Depression Cartels, Market Structure, and Performance; S. Martin. 5. Stability of German Cartels; J. Schwalbach, A. Schwerk. III: Mergers and Merger Policy. 6. Market Definition for Media Mergers; B.R. Lyons. 7. European Merger Control, Political Discretion, and Efficient Market Structures; A. Haid. 8. Foundations of a Bank Merger Control for Europe; D. Neuberger. 9. Jurisdictional Problems of Merger Control: An International Comparison; I. Schmidt. IV: Methodological Issues in Industrial Organization. 10. Theories of Industrial Organization and Competition Policy: What Are the Links; A. Jacquemin. 11. Industrial Policy and Industrial Organization; D.B. Audretsch. 12. The Use of Game Theoretical Models for Empirical Industrial Organization; K. Aiginger. 13. Empirical Facts, Economic Theory, and Everyday Experience in Industrial Organization - Three Sides of the Same Story? M.T. Münter. V: International Trade. 14. Pricing under Changing Exchange Rates: A Critical Survey; T. Tivig. 15. Export Pricing Behavior under Flexible Exchange Rates. The Case of German Automobile Exporters in the US;W. Harbrecht. VI: Aggregate Performance. 16. Competition and Growth: A Macroeconomic Perspective; R. Klump. 17. Efficiency of Social Security Systems. Korea's Funded System Versus Germany's PAYG System; Sangho Kim. 18. On the Economic Decline of Nations; D.C. Mueller. Index of Names. Index of Subjects.