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Author: Jay Pil Choi Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper develops an equilibrium model of vertical foreclosure with the choice of input specifications. In this model, vertical foreclosure occurs as the upstream division of the integrated firm makes a specialized input for its sister downstream division while it would, as an independent firm, provide a generalized input. The changes in incentives with vertical integration can be explained by the externalities the choice of a specialized input entails; vertical integration allows the upstream firm to internalize the benefit of raising the rival firm's costs at the downstream level. The choice of a specialized input by the integrated firm serves as a natural commitment mechanism not to supply the rival downstream firms and, thus, enables us to dispense with the controversial price commitment assumption in the literature. We derive conditions for equilibrium vertical foreclosure to occur and discuss its welfare consequences.
Author: Jay Pil Choi Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper develops an equilibrium model of vertical foreclosure with the choice of input specifications. In this model, vertical foreclosure occurs as the upstream division of the integrated firm makes a specialized input for its sister downstream division while it would, as an independent firm, provide a generalized input. The changes in incentives with vertical integration can be explained by the externalities the choice of a specialized input entails; vertical integration allows the upstream firm to internalize the benefit of raising the rival firm's costs at the downstream level. The choice of a specialized input by the integrated firm serves as a natural commitment mechanism not to supply the rival downstream firms and, thus, enables us to dispense with the controversial price commitment assumption in the literature. We derive conditions for equilibrium vertical foreclosure to occur and discuss its welfare consequences.
Author: Damien Gerard Publisher: Bruylant ISBN: 2802757555 Category : Law Languages : en Pages : 336
Book Description
The transformations induced by the process of “modernisation”, including in its substantive dimension, as well as recent judgments by the EU Courts, have left many lawyers and economists wary as to the standards actually governing findings of antitrust infringement under EU competition law, thereby affecting their ability to advise businesses effectively on the design of their commercial practices. While not ignoring institutional constraints, this volume revisits the notion of restriction of competition in the framework of Articles 101 and 102 TFEU with a view to taking stock of recent developments, to identifying common trends and to informing the application of core EU antitrust principles in current market contexts. Associating lawyers and economists, practitioners and academics, it seeks both to revisit long-standing theories of harm to competition and to explore novel forms of antitrust concerns.
Author: Chiara Fumagalli Publisher: Cambridge University Press ISBN: 1108546803 Category : Business & Economics Languages : en Pages : 651
Book Description
The most controversial area in competition policy is that of exclusionary practices, where actions are taken by dominant firms to deter competitors from challenging their market positions. Economists have been struggling to explain such conduct and to guide policy-makers in designing sensible enforcement rules. In this book, authors Chiara Fumagalli, Massimo Motta, and Claudio Calcagno explore predatory pricing, rebates, exclusive dealing, tying, and vertical foreclosure, through a blend of theory and practice. They develop a general framework which builds on and extends existing economic theories, drawing upon case law, discussions of cases and other practical considerations to identify workable criteria that can guide competition authorities to assess exclusionary practices. Along with analyses of policy implications and insights applied to case studies, the book provides practitioners with non-technical discussions of the issues at hand, while guiding economics students with dedicated technical sections with rigorous formal models.
Author: Paul Belleflamme Publisher: Cambridge University Press ISBN: 1139485245 Category : Business & Economics Languages : en Pages : 725
Book Description
Industrial Organization: Markets and Strategies provides an up-to-date account of modern industrial organization that blends theory with real-world applications. Written in a clear and accessible style, it acquaints the reader with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. It covers a wide range of topics including recent developments on product bundling, branding strategies, restrictions in vertical supply relationships, intellectual property protection, and two-sided markets, to name just a few. Models are presented in detail and the main results are summarized as lessons. Formal theory is complemented throughout by real-world cases that show students how it applies to actual organizational settings. The book is accompanied by a website containing a number of additional resources for lecturers and students, including exercises, answers to review questions, case material and slides.
Author: Renato Nazzini Publisher: OUP Oxford ISBN: 0191630128 Category : Law Languages : en Pages : 2114
Book Description
Article 102 TFEU prohibits the abuse of a dominant position as incompatible with the internal market. Its application in practice has been controversial with goals as diverse as the preservation of an undistorted competitive process, the protection of economic freedom, the maximisation of consumer welfare, social welfare, or economic efficiency all cited as possible or desirable objectives. These conflicting aims have raised complex questions as to how abuses can be assessed and how a dominant position should be defined. This book addresses the conceptual problems underlying the tests to be applied under Article 102 in light of the objectives of EU competition law. Adopting an interdisciplinary approach, the book covers all the main issues relating to Article 102, including its objectives, its relationship with other principles and provisions of EU law, the criteria for the assessment of individual abusive practices, and the definition of dominance. It provides an in-depth doctrinal and normative commentary of the case law with the aim of establishing an intellectually robust and practically workable analytical framework for abuse of dominance.
Author: Publisher: Elsevier ISBN: 0323988881 Category : Business & Economics Languages : en Pages : 784
Book Description
Handbook of Industrial Organization Volume 4 highlights new advances in the field, with this new volume presenting interesting chapters. Each chapter is written by an international board of authors. - Part of the renowned Handbooks in Economics series - Chapters are contributed by some of the leading experts in their fields - A source, reference and teaching supplement for industrial organizations or industrial economists
Author: Jay Pil Choi
Author: Jay Pil Choi
Author: Jay Pil Choi
Author: Damien Gerard
Author: Chiara Fumagalli
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Author: Paul Belleflamme
Author: Robert S. Schlossberg
Author: Renato Nazzini
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Author: