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Author: Mark-Oliver Mackenrodt Publisher: Springer Science & Business Media ISBN: 3540699651 Category : Political Science Languages : en Pages : 210
Book Description
As part of its review of competition law that started in the late 1990s, the European Commission proposes to revise its interpretation and application of the Treaty’s prohibition of abuses of dominant positions. Also, it has instigated a debate about the promotion of private enforcement of EC competition law. On the former subject, the Commission published a Discussion Paper in 2005; on the latter, a Green Paper in 2005, followed by a White Paper in 2008. The chapters in this volume critically appraise the Commission’s proposals, including the most recent ones. The authors also highlight the repercussions of the proposed ‘more economic approach’ to abuses of dominant positions on private litigants’ opportunities to bring damages actions in national courts for such abuses.
Author: Mark-Oliver Mackenrodt Publisher: Springer Science & Business Media ISBN: 3540699651 Category : Political Science Languages : en Pages : 210
Book Description
As part of its review of competition law that started in the late 1990s, the European Commission proposes to revise its interpretation and application of the Treaty’s prohibition of abuses of dominant positions. Also, it has instigated a debate about the promotion of private enforcement of EC competition law. On the former subject, the Commission published a Discussion Paper in 2005; on the latter, a Green Paper in 2005, followed by a White Paper in 2008. The chapters in this volume critically appraise the Commission’s proposals, including the most recent ones. The authors also highlight the repercussions of the proposed ‘more economic approach’ to abuses of dominant positions on private litigants’ opportunities to bring damages actions in national courts for such abuses.
Author: T.V.S. Ramamohan Rao Publisher: Cambridge Scholars Publishing ISBN: 1527560066 Category : Business & Economics Languages : en Pages : 122
Book Description
This book presents several fundamentally new ideas. It shows that the notion of market dominance depends on the choices of firms. The fundamental idea here is to separate strategies that the firm wishes to pursue and those that it can achieve given the rival reactions. The book also highlights that consumers generally find it difficult to obtain appropriate information about the value of products when many similar products are sold on the market. Firms provide signals in the form of non-price strategies. The identification, by the consumer, of the maximum value of the product may nevertheless leave some room for firms to expand their market share beyond this. In addition, given the nature of the market, each firm has some market power with regard to consumers on the market and in its relationship with rival firms. This text presents a number of market power indices at the firm and strategy level combining these two dimensions. The book also considers issues of regulation of apps in cyberspace and discusses practical regulatory policies that have been developed to limit misuse of information in cyberspace.
Author: Robert Bork Publisher: ISBN: 9781736089712 Category : Languages : en Pages : 536
Book Description
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Author: Richard B. McKenzie Publisher: University of Michigan Press ISBN: 0472901141 Category : Business & Economics Languages : en Pages : 554
Book Description
In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.
Author: Jens-Uwe Franck Publisher: Centre on Regulation in Europe asbl (CERRE) ISBN: Category : Law Languages : en Pages : 96
Book Description
With the rise of digital platforms and the natural tendency of markets involving platforms to become concentrated, competition authorities and courts are more frequently in a position to investigate and decide merger and abuse cases that involve platforms. This report provides guidance on how to define markets and on how to assess market power when dealing with two-sided platforms. DEFINITION Competition authorities and courts are well advised to uniformly use a multi-markets approach when defining markets in the context of two-sided platforms. The multi-markets approach is the more flexible instrument compared to the competing single-market approach that defines a single market for both sides of a platform, as the former naturally accounts for different substitution possibilities by the user groups on the two sides of the platform. While one might think of conditions under which a single-market approach could be feasible, the necessary conditions are so severe that it would only be applicable under rare circumstances. To fully appreciate business activities in platform markets from a competition law point of view, and to do justice to competition law’s purpose, which is to protect consumer welfare, the legal concept of a “market” should not be interpreted as requiring a price to be paid by one party to the other. It is not sufficient to consider the activities on the “unpaid side” of the platform only indirectly by way of including them in the competition law analysis of the “paid side” of the platform. Such an approach would exclude certain activities and ensuing positive or negative effects on consumer welfare altogether from the radar of competition law. Instead, competition practice should recognize straightforwardly that there can be “markets” for products offered free of charge, i.e. without monetary consideration by those who receive the product. ASSESSMENT The application of competition law often requires an assessment of market power. Using market shares as indicators of market power, in addition to all the difficulties in standard markets, raises further issues for two-sided platforms. When calculating revenue shares, the only reasonable option is to use the sum of revenues on all sides of the platform. Then, such shares should not be interpreted as market shares as they are aggregated over two interdependent markets. Large revenue shares appear to be a meaningful indicator of market power if all undertakings under consideration serve the same sides. However, they are often not meaningful if undertakings active in the relevant markets follow different business models. Given potentially strong cross-group external effects, market shares are less apt in the context of two-sided platforms to indicate market power (or the lack of it). Barriers to entry are at the core of persistent market power and, thus, the entrenchment of incumbent platforms. They deserve careful examination by competition authorities. Barriers to entry may arise due to users’ coordination failure in the presence of network effect. On two-sided platforms, users on both sides of the market have to coordinate their expectations. Barriers to entry are more likely to be present if an industry does not attract new users and if it does not undergo major technological change. Switching costs and network effects may go hand in hand: consumer switching costs sometimes depend on the number of platform users and, in this case, barriers to entry from consumer switching costs increase with platform size. Since market power is related to barriers to entry, the absence of entry attempts may be seen as an indication of market power. However, entry threats may arise from firms offering quite different services, as long as they provide a new home for users’ attention and needs.
Author: Michael A. Utton Publisher: Edward Elgar Publishing ISBN: 1843767481 Category : Business & Economics Languages : en Pages : 342
Book Description
Market dominance - encompassing single firm dominance, overt and tacit collusion, mergers and vertical restraints - raises many complex analytical and policy issues, all of which continue to be the subject of theoretical research and policy reform. This second edition of a popular and comprehensive text extends the arguments and combines an analysis of the issues with a discussion of actual policy and case studies. This new edition addresses the recent fundamental changes in antitrust law, especially in the UK and the EU, and reviews some high profile and controversial cases such as the Boeing-McDonnell Douglas merger and the Microsoft monopoly. The author moves on to deal with several unresolved questions including the conflicts between trade and antitrust policy, the foreign take-over of domestic assets and extra-territorial claims made by certain countries.
Author: Jagdish Sheth Publisher: Simon and Schuster ISBN: 0743234308 Category : Business & Economics Languages : en Pages : 296
Book Description
Name any industry and more likely than not you will find that the three strongest, most efficient companies control 70 to 90 percent of the market. Here are just a few examples: McDonald's, Burger King, and Wendy's General Mills, Kellogg, and Post Nike, Adidas, and Reebok Bank of America, Chase Manhattan, and Banc One American, United, and Delta Merck, Johnson & Johnson, and Bristol-Myers Squibb Based on extensive studies of market forces, the distinguished business school strategists and corporate advisers Jagdish Sheth and Rajendra Sisodia show that natural competitive forces shape the vast majority of companies under "the rule of three." This stunning new concept has powerful strategic implications for businesses large and small alike. Drawing on years of research covering hundreds of industries both local and global, The Rule of Three documents the evolution of markets into two complementary sectors -- generalists, which cater to a large, mainstream group of customers; and specialists, which satisfy the needs of customers at both the high and low ends of the market. Any company caught in the middle ("the ditch") is likely to be swallowed up or destroyed. Sheth and Sisodia show how most markets resemble a shopping mall with specialty shops anchored by large stores. Drawing wisdom from these markets, The Rule of Three offers counterintuitive insights, with suggested strategies for the "Big 3" players, as well as for mid-sized companies that may want to mount a challenge and for specialists striving to flourish in the shadow of industry giants. The book explains how to recognize signs of market disruptions that can result in serious reversals and upheavals for companies caught unprepared. Such disruptions include new technologies, regulatory shifts, innovations in distribution and packaging, demographic and cultural shifts, and venture capital as well as other forms of investor funding. Years in the making and sweeping in scope, The Rule of Three provides authoritative, research-based insights into market dynamics that no business manager should be without.
Author: Martin Moore Publisher: Oxford University Press ISBN: 0190845120 Category : Business & Economics Languages : en Pages : 441
Book Description
Across the globe, Google, Amazon, Facebook, Apple and Microsoft have accumulated power in ways that existing regulatory and intellectual frameworks struggle to comprehend. A consensus is emerging that the power of these new digital monopolies is unprecedented, and that it has important implications for journalism, politics, and society. It is increasingly clear that democratic societies require new legal and conceptual tools if they are to adequately understand, and if necessary check the economic might of these companies. Equally, that we need to better comprehend the ability of such firms to control personal data and to shape the flow of news, information, and public opinion. In this volume, Martin Moore and Damian Tambini draw together the world's leading researchers to examine the digital dominance of technologies platforms and look at the evidence behind the rising tide of criticism of the tech giants. In fifteen chapters, the authors examine the economic, political, and social impacts of Google, Amazon, Facebook, Apple, and Microsoft, in order to understand the different facets of their power and how it is manifested. Digital Dominance is the first interdisciplinary volume on this topic, contributing to a conversation which is critical to maintaining the health of democracies across the world.
Author: Carl Shapiro Publisher: Harvard Business Press ISBN: 9780875848631 Category : Business & Economics Languages : en Pages : 374
Book Description
As one of the first books to distill the economics of information and networks into practical business strategies, this is a guide to the winning moves that can help business leaders--from writers, lawyers and finance professional to executives in the entertainment, publishing and hardware and software industries-- navigate successfully through the information economy.
Author: Mark-Oliver Mackenrodt
Author: Mark-Oliver Mackenrodt
Author: T.V.S. Ramamohan Rao
Author: Robert Bork
Author: Richard B. McKenzie
Author: Joan Robinson
Author: Jens-Uwe Franck
Author: Michael A. Utton
Author: Jagdish Sheth
Author: Martin Moore
Author: Carl Shapiro