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updated October 2014



Education:

University of California, Berkeley: M.A. 1967, Ph.D. 1969

University of California, Santa Barbara: B.A. 1966



Primary Employment:

Cornell University Professor, April 1983 - present. Associate Professor, August 1976 to April 1983.(Director of Graduate Studies July 1979 - August 1983; August 1987 - 2005).

Antitrust Division, DOJ, 1974 - 1976, Intermittent Employee 1976 - 1980.

Assistant Professor, Northwestern University, September 1969 - August 1974.



Selected Affiliations:

Shinhan Bank Distinguished Visiting Professor, Yonsei University, 2010-11.

Industrial Organization Society: Board 2000- , Vice President 2000-2002, President 2002-2004, Sponsorship Director 2008- .

International Journal of Industrial Organization: Co-Editor 1987-2000, appointed Fellow 1997.

Executive Committee: European Association for Research in Industrial Economics, 1990-1995.



Mentoring:

Chair: Sixty-eight completed Ph.D. dissertations

Advisor: Undergraduate Magna Cum Laude Honors Thesis





Selected Publications:


Executive and Firm Incentives:

"Executive Motivations, Earnings and Consequent Equity Performance," Journal of Political Economy, 1971.

"Insider Trading and the Value of the Firm," with A. Madhavan, Journal of Industrial Economics, 1991.


Dairy Industry Antitrust and Regulation:

Milk Marketing, a Report of the U.S. Department of Justice to the Task Group on Antitrust Immunities, with R. Fones, and J. Hall (esq.s), GPO, 1977.

"The Social Cost of Government Regulation of Milk," Journal of Law and Economics, with R. Ippolito, 1978.

"The Structural Effects of State Regulation of Retail Fluid Milk Prices," Review of Economics and Statistics, with L. DeBrock, 1980.

"Welfare Impacts of Milk Orders and the Antitrust Immunities for Cooperatives," American Journal of Agricultural Economics, with P. Eisenstat, 1980.

"Curdling the Competition: An Economic and Legal Analysis of the Antitrust exemption for Agriculture," Villanova Law Review, with D. Baumer, and R.A. Masson, 1986.

"Cooperation for Monopolization?: An Empirical Analysis of Cartelization," Review of Economics and Statistics, with A. Madhavan and B. Lesser, 1994.


Industry Competition: Studying Endogenous Market Structure and Profits

"Stochastic-Dynamic Limit Pricing: An Empirical Test," Review of Economics and Statistics, with J. Shaanan, 1982.

"Social Costs of Oligopoly and the Value of Competition," Economic Journal, with J. Shaanan, 1984.

"The Dynamics of Market Structure," International Journal of Industrial Organization, with P. Geroski and J. Shaanan, 1987.

"Market Structure, Entry, and Performance in Korea," Review of Economics and Statistics, with K.-Y. Jeong, 1990.

"A New Methodology Linking Concentration Dynamics to Current and Steady-State Profits: Examining Korean Industrial Policy During Take-Off," International Journal of Industrial Organization, with K.-Y. Jeong, 2003.


Theoretical Models with Policy Implications:

"Costs of Search and Racial Price Discrimination," Western Economic Journal, 1973.

"The Creation of Risk Aversion by Imperfect Capital Markets," American Economic Review, March 1972.

"Kinky Utility Functions: Some Evidence and Implications from Peasant Agriculture," Economic Inquiry, 1974.

"Preying for Time," Journal of Industrial Economics, with D. Easley and R. Reynolds, 1985.

"Sooner or Later? - Inventive Rivalry and Welfare," International Journal of Industrial Organization, with L. DeBrock, 1985.

"Capacity Signals and Entry Deterrence," International Journal of Industrial Organization, with Wm. Kirman, March 1986.

"Domestic Industrial Structure and Export Quality," International Economic Review, with S.C. Chiang, 1988.

"Efficient Regulation with Little Information: Reality in the Limit?" International Economic Review, with J. Logan and R.J. Reynolds, 1989.

"Oligopoly in Advertiser Supported Media," Quarterly Review of Economics and Business, Summer 1990, with R. Mudambi and R.J. Reynolds.

"Oligopolistic Product Withholding in Ricardian Markets," Bulletin of Economic Research, January 1994, with R. Mudambi and R.J. Reynolds.

"Mergers in Symmetric and Asymmetric Noncooperative Auction Markets: The Effects on Prices and Efficiency," International Journal of Industrial Organization, with S. Dalkir and J. Logan, 2000.

"The 'Services' Explanation for Resale Price Maintenance (RPM): Deleterious Results missed in the Economics Literature and in Legal Decisions," Southern Economic Journal, with T. da Graça, October 2012.

"Ignorance is Bliss? Uncertainty about Product Valuation may Benefit Consumers," Applied Economics Letters, with T. da Graça, February 7, 2013.

"A Note on Complementary Goods Mergers between Oligopolists with Market Power: Cournot Effects, Bundling and Antitrust", with S. Dalkir, A. Gerstle and D. Eisenstadt, Review of Law and Economics, May 2014, 1-21.


Empirical Models of Policy Issues not included above:

"What do 'not-for-profit' Hospitals Maximize?" International Journal of Industrial Organization, with D. Deneffe, 2002.

"Firm Diversification and Equilibrium Risk Pooling: The Korean Financial Crisis as a Natural Experiment," Emerging Markets Review, with H. Tookes and T. Um, 2009.


Statistical Methodology:

"More Power to You: Properties of a More Powerful Event Study Methodology," Review of Accounting and Finance, with T. da Graça, 2012.


Unpublished includes:

"Flawed Economic Models have Misled RPM Policy in the US, Canada and the EU," with T. da Graça

"Corporate Governance and Abnormal Returns from M&A: A Structural Analysis," with T. da Graça

"New Results on Central Tendencies in Industrial Organization: A Panel Addressing Data Measurement, Endogeneity and Model Structure," with G. Jakubson, K.-Y. Jeong and D. Kim. Link to be added

"Korean Dumping and Domestic Market Structure/Power," with G. Jakubson, K.-Y. Jeong and D. Kim. Link to be added

Contact Information

Robert T. Masson
Professor of Economics
440 Uris Hall
Cornell University
Ithaca, NY 14853

E-mail: rtm2@cornell.edu
Phone: (607) 255-6288
Fax: (607) 255-2818