Author: In Ho LeePublisher:
ISBN:
Category :
Languages : en
Pages : 23
Book Description
Durable Goods Monopoly Under Technological Innovation
Author: In Ho LeeDurable Goods Monopolist Under Technological Innovation
Author: Jonghwa LeePublisher:
ISBN:
Category : Competition, Unfair
Languages : en
Pages : 310
Book Description
Natural Monopolies in Digital Platform Markets
Author: Francesco DucciPublisher: Cambridge University Press
ISBN: 1108491146
Category : Business & Economics
Languages : en
Pages : 203
Book Description
Through three case studies, this book investigates whether digital industries are naturally monopolistic and evaluates policy approaches to market power.
Technological and Physical Obsolescence and the Timing of Adoption
Author: Competition, Innovation and the Microsoft Monopoly: Antitrust in the Digital Marketplace
Author: Jeffrey A. EisenachPublisher: Springer Science & Business Media
ISBN: 9401144079
Category : Business & Economics
Languages : en
Pages : 303
Book Description
Do the antitrust laws have a place in the digital economy or are they obsolete? That is the question raised by the government's legal action against Microsoft, and it is the question this volume is designed to answer. America's antitrust laws were born out of the Industrial Revolution. Opponents of the antitrust laws argue that whatever merit the antitrust laws may have had in the past they have no place in a digital economy. Rapid innovation makes the accumulation of market power practically impossible. Markets change too quickly for antitrust actions to keep up. And antitrust remedies are inevitably regulatory and hence threaten to `regulate business'. A different view - and, generally, the view presented in this volume - is that antitrust law can and does have an important and constructive role to play in the digital economy. The software business is new, it is complex, and it is rapidly moving. Analysis of market definition, contestibility and potential competition, the role of innovation, network externalities, cost structures and marketing channels present challenges for academics, policymakers and judges alike. Evaluating consumer harm is problematic. Distinguishing between illegal conduct and brutal - but legitimate - competition is often difficult. Is antitrust analysis up to the challenge? This volume suggests that antitrust analysis `still works'. In stark contrast to the political rhetoric that has surrounded much of the debate over the Microsoft case, the articles presented here suggest neither that Microsoft is inherently bad, nor that it deserves a de facto exemption from the antitrust laws. Instead, they offer insights - for policymakers, courts, practitioners, professors and students of antitrust policy everywhere - on how antitrust analysis can be applied to the business of making and marketing computer software.
Innovation Matters
Author: Richard J. GilbertPublisher: MIT Press
ISBN: 0262545799
Category : Business & Economics
Languages : en
Pages : 337
Book Description
A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and evidence on economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather than innovation. Economic theory shows the ways that price competition benefits consumers, and courts, antitrust agencies, and economists have developed tools for the quantitative evaluation of price impacts. Antitrust law does not preclude interventions to encourage innovation, but over time the interpretation of the laws has raised obstacles to enforcement policies for innovation. In this book, economist Richard Gilbert proposes a shift from price-centric to innovation-centric competition policy. Antitrust enforcement should be concerned with protecting incentives for innovation and preserving opportunities for dynamic, rather than static, competition. In a high-technology economy, Gilbert argues, innovation matters. Gilbert considers both theory and available empirical evidence on the relationships among market structure, firm behavior, and the production of new products and services. He reviews the distinctive features of the high-tech economy and why current analytical tools used by antitrust enforcers aren't up to the task of assessing innovation concerns. He considers, from the perspective of innovation competition, Kenneth Arrow's “replacement effect” and the Schumpeterian theory of market power and appropriation; discusses the effect of mergers on innovation and future price competition; and reviews the empirical literature on competition, mergers, and innovation. He describes examples of merger enforcement by US and European antitrust agencies; examines cases brought against Microsoft and Google; and discusses the risks and benefits of interoperability standards. Finally, he offers recommendations for competition policy. The open access edition of this book was made possible by generous funding from Arcadia – a charitable fund of Lisbet Rausing and Peter Baldwin.
Against Intellectual Monopoly
Author: Michele BoldrinPublisher: Cambridge University Press
ISBN: 9780521127264
Category : Business & Economics
Languages : en
Pages : 306
Book Description
"Intellectual property" - patents and copyrights - have become controversial. We witness teenagers being sued for "pirating" music - and we observe AIDS patients in Africa dying due to lack of ability to pay for drugs that are high priced to satisfy patent holders. Are patents and copyrights essential to thriving creation and innovation - do we need them so that we all may enjoy fine music and good health? Across time and space the resounding answer is: No. So-called intellectual property is in fact an "intellectual monopoly" that hinders rather than helps the competitive free market regime that has delivered wealth and innovation to our doorsteps. This book has broad coverage of both copyrights and patents and is designed for a general audience, focusing on simple examples. The authors conclude that the only sensible policy to follow is to eliminate the patents and copyright systems as they currently exist.
Pricing Tactics, Strategies, and Outcomes
Author: Michael WaldmanPublisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 710
Book Description
The economics literature on pricing and pricing tactics has made huge progress in the last few decades mostly due to the influence of the asymmetric information and game theory revolutions in microeconomic theory. This authoritative two volume collection brings together some classic contributions which predate these revolutions, and older and newer papers which have employed these modern techniques to further our understanding of how pricing works in real world settings. Pricing Tactics, Strategies, and Outcomes approaches the subject mainly from the theoretical perspective, but includes also some important empirical papers. Important topics covered include entry deterrence, reputation formation, product line pricing, collusive behavior, tying and bundling, leasing, and sales and couponing strategies. The book should prove a useful reference tool for marketing students and faculty interested in the literature on pricing.
In Defense of Monopoly
Author: Richard B. McKenziePublisher: 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.
The Economics of Information Technology
Author: Hal R. VarianPublisher: Cambridge University Press
ISBN: 1139456725
Category : Business & Economics
Languages : en
Pages : 114
Book Description
The Economics of Information Technology is a concise and accessible review of some of the important economic factors affecting information technology industries. These industries are characterized by high fixed costs and low marginal costs of production, large switching costs for users, and strong network effects. These factors combine to produce some unique behavior. The book consists of two parts. In the first part, Professor Varian outlines the basic economics of these industries. In the second part, Professors Farrell and Shapiro describe the impact of these factors on competition policy. The clarity of the analysis and exposition makes this an ideal introduction for undergraduate and graduate students in economics, business strategy, law and related areas.