Stephen Salant is an applied microtheorist with a specialization in the fields of industrial organization and natural resource economics. In industrial organization, he is best known for his papers on exogenous horizontal mergers and on intertemporal price discrimination. In natural resource economics, he contributed the first article on oligopoly and the oil cartel (1976) and the first article on the drilling and extraction of exhaustible resources subject to underground pressure (2018).
In the intervening years, he has investigated: the appropriate interpretation of government statistics on the duration of unemployment, the effects of anticipated and actual government policies on the price of gold, the cause of speculative attacks on government bufferstocks, the effects of catch-sharing partnerships on the utilization of common properties, the effects on cap-and-trade programs of regulatory uncertainty, delayed compliance and price floors, and the economic decisions of quantity-restricting political organizations (agricultural marketing boards, cartels, international commodity organizations, prorationing boards, etc.)
- PhD in economics, University of Pennsylvania 1973
- BA in mathematics, Columbia University, 1967