When IBM patented a punch card processing machine, it had the power to influence both the market of machines and punch cards, but this is not always the case when a company operates in two different but connected markets.
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Sam Peltzman
Sam Peltzman is the Ralph and Dorothy Keller Distinguished Service Professor Emeritus of Economics at the University of Chicago Booth School of Business. He has been on the faculty of the University of Chicago’s School of Business since 1973, and has also served as a senior staff economist for President Nixon’s Council of Economic Advisers (1970-1971). His research has focused on issues related to the interface between the public sector and the private economy and encompasses areas as varied as the economics of government regulation and industrial organization, including the regulation of banking, automobile safety, pharmaceutical innovation, the growth of government, the political economy of public education, and the economic analysis of voters and legislators. Peltzman is also the Director Emeritus of the Stigler Center, which he headed from 1991 to 2005.
Articles by Sam Peltzman:
Standard Oil and Antitrust: the Effects of Aaron Director’s Socratic Method
Aaron Director, who died 15 years ago, made important contributions to the analysis of business practices. None were ever published under his name. Professor Sam Peltzman explains why his approach was so fruitful.
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George Stigler on Regulation: Lessons for Today
October 20 marks the 35th anniversary of George Stigler’s Nobel prize, the first of Booth School of Business’s grand total of eight Nobels. To celebrate the occasion, his longtime colleague at Chicago Booth Sam Peltzman offers a preview of the memorial lecture he’ll deliver at our November “Stigler in the 21st Century” conference.
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