Regulation, Market Prices, And Process Innovation: The Case Of The Ammonia Industry

1st Edition

Edward Greenberg, Christopher T. Hill, David J. Newburger

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Routledge
Published July 16, 2019
Reference - 262 Pages
ISBN 9780429304286 - CAT# KF12213

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Summary

Through the study of innovation in processes for the production of synthetic ammonia, the authors examine the effects of environmental and workplace regulations on business innovation in general. They present a history of ammonia production in the U.S., a survey of government regulation in the industry, and a model of process innovation that combines the economist's production function with the technical and practical concepts of the engineer. Contrary to the widely held view that regulation has an unfortunate impact on business, the authors demonstrate that—at least in one industry—the economic factors of production have a measurable impact on innovation, while regulation does not.

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