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Risk, Industrial Organisation, Optimal Growth, Dynamic Inconsistency


Newbery, David M. and Joseph E. Stiglitz, (1981) The Theory of Commodity Price Stabilization: A Study in the Economics of Risk, Oxford: Clarendon Press, ISBN 0-19-828417-0; 0-19-828438-1 PBk

Journal Articles

Newbery, D.M. (1998) ‘Competition, Contracts and Entry in the Electricity Spot Market’, RAND Journal of Economics, 29(4), Winter, 726-49. (DAE Working Paper 9707)

Gilbert, R.J. and D.M. Newbery (1994) ‘The Dynamic Efficiency of Regulatory Constitutions’, Rand Journal of Economics, Vol. 25 No. 4, 538-54, previously issued as ‘Regulation Games’ CEPR Discussion Paper 267, September, 1988.

Kletzer, K., D.M. Newbery and B.D. Wright (1992) ‘Smoothing primary exporters’ price risks: bonds, futures, options and insurance’, Oxford Economic Papers, 44, Oct. 641-71

Newbery, D.M. (1992) ‘The Open-Loop von Stackelberg Equilibrium in the Cartel versus Fringe Model: A Reply’, Economic Journal, 102, (415) 1085-87, November.

Gilbert, R.J. and D.M. Newbery (1992) ‘Alternative Entry Paths: The Build or Buy Decision’, Journal of Economics and Management Strategy, 1(1), Spring, 129-50.

Karp, L. and Newbery, D.M. (1992) ‘Dynamically Consistent Oil Import Tariffs’, Canadian Journal of Economics, Feb 1992, 25(1), 101-21.

Karp, L. and Newbery, D.M. (1991) ‘Optimal tariffs on exhaustible resources’, Journal of International Economics, 30, 285-299.

Newbery, D.M. (1990) ‘Cartels, Storage, and the Suppression of Futures Markets’, European Economic Review, Vol 34 No 5, July 1990, pp. 1041-60.

Maskin, E. and Newbery, D.M. (1990) ‘Disadvantageous Oil Tariffs and Dynamic Consistency’, American Economic Review, 80 (1), March, 143-56.

Newbery, D.M. (1989) ‘The Theory of Food Price Stabilization’, Economic Journal, Vol 99, 398, December, 1065-82.

Wright, B.D. and Newbery, D.M. (1989) ‘Financial Instruments for Consumption Smoothing by Commodity-Dependent Exporters’, American Journal of Agricultural Economics., 71 (2), May, 511-16.

Newbery, D.M. (1988) ‘On the Accuracy of the Mean-Variance Approximation’, Economic Letters, 63-8.

Newbery, D.M. (1987) ‘When do futures markets destabilize spot prices’, International Economic Review, 28,(2), 291-7.

Newbery, D.M. and J.E. Stiglitz (1987) ‘Wage Rigidity, Implicit Contracts, Unemployment and Economic Efficiency’, Economic Journal, June, 416-31.

Newbery, D.M. (1984) ‘Commodity Price Stabilization in Imperfect or Cartelized Markets’, Econometrica, 52, May, 563-578.

Gilbert, R.J. and Newbery, D.M. (1984) ‘Preemptive Patenting and the Persistence of Monopoly: A Reply’, American Economic Review, 74(1), 1984, 251-53.

Gilbert, R.J. and Newbery, D.M. (1984) ‘Uncertain Innovation and the Persistence of Monopoly: Comment’, American Economic Review, 74 (1), 238-42.

Newbery, D.M. and J.E. Stiglitz (1984) ‘Pareto Inferior Trade’, Review of Economic Studies, LI, Jan. 1984, pp. 1-12.

Gilbert, R.J. and Newbery, D.M. (1982) ‘Pre-emptive Patenting and the Persistence of Monopoly’, American Economic Review, 72, 514-26.

Newbery, D.M. and J.E. Stiglitz (1982) ‘Optimal Commodity Stock-Piling Rules’, Oxford Economic Papers, 34(3), November, 403-27.

Newbery, D.M. and J.E. Stiglitz (1982) ‘The Choice of Techniques and the Optimality of Market Equilibrium with Rational Expectations’, Journal of Political Economy, 90(2), April, 223-46.

Newbery, D.M. and J.E. Stiglitz (1982) ‘Risk Aversion, Supply Response, and the Optimality of Random Prices’, July, Quarterly Journal of Economics, XCVII(1), 1982, 1-26.

Newbery, D.M. (1981) ‘Oil Prices, Cartels and the Problem of Dynamic Inconsistency’, Economic Journal, 91, September, 617-46.

Newbery, D.M. and J.E. Stiglitz (1979) ‘The Theory of Commodity Price Stabilisation Rules: Welfare Impacts and Supply Responses’, Economic Journal, 89. December, 799-817.

Newbery, D.M. (1978) ‘Stochastic Limit Pricing’, Bell Journal of Economics, 9(1), Spring, 260-9.

Newbery, D.M. (1977) ‘Risk Sharing, Sharecropping and Uncertain Labour Markets’, Review of Economic Studies, XLIV(3), October, 585-94.

Newbery, D.M. (1974) ‘Cropsharing Tenancy in Agriculture - A Comment’, American Economic Review, December, 1060-66.

Newbery, D.M. (1972) ‘Public Policy in the Dual Economy’, Economic Journal, 82, June, 567-90.

Newbery, D.M. (1972) ‘The Importance of Malleable Capital in Optimal Growth Models’, Journal of Economic Theory, Vol 5 (1), August, 21-41.

Atkinson, A.B. and Newbery, D.M. (1972) ‘Investment, Savings and Employment in the Long Run’ International Economic Review, 13(3), October. 460-75.

Chapters in Books

Newbery, D.M. and J.E. Stiglitz (1995) ‘Pareto Inferior Trade’, chapter 29, pp 441-452 in International Trade, Volume II, edited by J.P. Neary, Aldershot, Elgar (ISBN 1 85278 361 3), reprinted from Review of Economic Studies, Jan. 1984, pp. 1-12.

Newbery, D.M. (1994) ‘Trade in Primary Products: Price Instability - Causes and Remedies’, ch 7 (pp 201-37) in International Problems of Economic Interdependence, eds. Mario Baldassarri, Massimo Di Matteo and Robert Mundell, MacMillan: Basingstoke, England. First published in Rivista di Politica Economica, April, 1993, 201-37.

Newbery, D.M. (1993) ‘Implications of Imperfect Risk Markets for Agricultural Taxation’, ch. 21, pp406-35, in The Economics of Rural Organisation, K Hoff, A Braverman and J.E. Sttiglitz (eds.) Oxford University Press, ISBN 0-19-520888-9

Karp, L. and Newbery, D.M. (1993) ‘Intertemporal Consistency Issues in Depletable Resources’, ch 19, pp 881-931, in Handbook of Natural Resource and Energy Economics, Vol III, eds A V Kneese and J L Sweeney, Noth-Holland, Amsterdam.

Gilbert, R.J. and Newbery, D.M. (1992) ‘Pre-emptive Patenting and the Persistence of Monopoly’, ch 21, pp 367-84 in J.M. Alec Gee and G. Norman (eds) Market Strategy and Structure, Hemel Hempstead: Harvester Wheatsheaf ISBN 0-7456-0940-9, reprinted from American Economic Review, 1989, 72, 514-26.

Newbery, DM. and J.E. Stiglitz (1992) ‘Futures Markets and Risk Reduction’, chapter 2, pp 36-55 of The Theory of Futures Markets, ed. Paul Weller, Blackwell Publishers, Oxford, 1992. Reprinted from chapter 13 of Newbery and Stiglitz, The Theory of Commodity Price Stabilization: A Study in the Economics of Risk, OUP, 1981.

Newbery, D.M. (1992) ‘Credible Oil Supply Contracts’, pp 340-369 in P. Dasgupta, D. Gale, O. Hart and E. Maskin (eds.), Economic Analysis of Markets and Games: Essays in Honor of Frank Hahn, The MIT Press, Cambridge Mass and London.

Wright, B. and D.M. Newbery (1991) ‘Financial Instruments for Consumption Smoothing by Commodity-Dependent Exporters’, chapter 9, p124-133 of Theophilos Priovolos and Ronald C. Duncan, (eds.) Commodity Risk Management and Finance, Oxford University Press for World Bank, 1991. Also published as ch 3, pp39-50 in The Economics of Cooperation: East Asian Development and the Case for Pro-Market Intervention, James A Roumasset and Susan Barr (eds), Westview Press, Boulder, Co. 1992, ISBN 0-8133-0454-7.

Newbery, D.M. (1990) ‘Commodity Price Stabilization’, chapter 5, pp 80-108 in Public Policy and Economic Development eds. D Lal and M. FG. Scott, Clarendon Press Oxford.

Newbery, D.M. (1989) ‘Agricultural Institutions for Insurance and Stabilization’, ch 14, pp 267-296 in The Economic Theory of Agrarian Institutions, P. Bardhan (ed), Clarendon Press Oxford.

Newbery, D.M. (1989) ‘Missing Markets: Consequences and Remedies’, ch 10, pp 211-42 in Economics of Missing Markets, Information, and Games, F.H. Hahn (ed). Clarendon Press Oxford.

Newbery, D.M. (1987) ‘Speculation and Hedging’ contribution for The New Palgrave, MacMillan.

Newbery, D.M. (1987) ‘The Ramsey Model’ contribution to The New Palgrave, MacMillan.

Newbery, D.M. (1984) ‘The Manipulation of Futures Markets by a Dominant Producer’, Ch. 2 (pp. 35-62) of Industrial Organisation of Futures Markets, edited by R. Anderson, Lexington Books, DC Heath, Lexington Mass.

Newbery, D.M. (1984) ‘Commodity Price Stabilization in Imperfectly Competitive Markets’, Chapter 11, pp. 261-84, International Agricultural Trade, ed. G.G. Storey, A. Schmitz, and A. Sarris, Westview.

Newbery, D.M. (1984) ‘The Economics of Oil’, chapter 20, pp. 519-68 in R. van der Ploeg (ed.), Mathematical Methods in Economics, Wiley.

Newbery, D.M. (1983) ‘The State of Leasing Theory: Conflicts Among Different Models of Decision Making under Uncertainty’, pp. 31-38, Rents and Rental Practices in U.S. Agriculture, Farm Foundation.

Newbery, D.M. (1983) ‘Futures Trading, Risk Reduction and Price Stabilization’, Chapter 9, pp. 211-235, M. Streit (ed.) Futures Markets, Basil Blackwell, Oxford.

Newbery, D.M. and J.E. Stiglitz (1979) ‘Share Cropping, Risk Sharing and the Importance of Imperfect Information’, in J. Roumasset et al (ed) Risk, Uncertainty and Agricultural Development, SEARCA-ADC, 1979.

Newbery, D.M. (1978) ‘Investment Planning under Uncertainty in the Electric Utility Industry’, Ch. 3 and 4 of Analysis of Decision Methodology Relative to the Adoption of New Technology, E.P.R.I. RP. 1298-1 Palo Alto, Ca., August 1978.

Newbery, D.M. (1978) ‘Vertical Integration and Alternative Contracts as Responses to Uncertainty’, Ch. 3 of Vol. IV of above report.

Newbery, D.M. (1978) ‘The Effects of Policy Uncertainty on the Energy Industry’, Ch. 6 of Vol. III of Effects of Risk on Prices and Quantities of Energy Supplies, E.P.R.I. EA-700, Palo Alto, Ca., May.

Newbery, D.M. (1978) ‘The Theory of the Firm under Uncertainty’, Ch. 3 of An Overview of the Economic Theory of Uncertainty and its Implications for Energy Supply, by R. Gilbert, D. Newbery and J. Stiglitz, E.P.R.I. Special Report EA-586-SR, Palo Alto, Ca., January.

Newbery, D.M. (1975) ‘The Choice of Rental Contract in Peasant Agriculture’, Ch. 5 of Agriculture in Development Theory ed. L. Reynolds, Yale U. Press.

Professor David Newbery

Emeritus Professor and
Director of The Energy Policy Research Group (EPRG)

Research Group:
Empirical Microeconomics

CV: Curriculum Vitae

Contact Details
Room: 71
College: Churchill College