Author: Franz Jürgen Säcker Publisher: Peter Lang ISBN: 9783631579343 Category : Business & Economics Languages : en Pages : 132
Book Description
The proper definition of the relevant product market still is the lynchpin of competition law: defining the market too wide makes it impossible to capture the companies' behavioural margins that are the result of market power and are not neutralized by competition; defining the market too narrow creates market power and forces undertakings under the application of Art. 82 EC, Art. 2 ECMR, § 19 German Competition Act. In European and German competition law the aspect of demand-side substitutability has been the most important criterion. The meaning of potential competition and especially of supply-side substitutability has not been systematically grasped. The book therefore re-thinks the relevant questions of proper market definition.
Author: Viktoria H S E Robertson Publisher: Bloomsbury Publishing ISBN: 1509931902 Category : Law Languages : en Pages : 424
Book Description
In recent years, market definition has come under attack as an analytical tool of competition law. Scholars have increasingly questioned its usefulness and feasibility. That criticism comes into sharper relief in dynamic, innovation-driven markets, which do not correspond to the static markets on which the concept of the relevant market was modelled. This book explores that controversy from a comparative legal perspective, taking into account both EU competition and US antitrust law. It examines the manifold ways in which courts and competition authorities in the EU and US have factored innovation-related considerations into market delineation, covering: innovative product markets, product differentiation, future markets, issues going beyond market definition proper – such as innovation competition, innovation markets and potential competition –, intellectual property rights, innovative aftermarkets and multi-sided platforms. This book finds that going forward, the role of market definition in dynamic contexts needs to focus on its function of market characterisation rather than on the assessment of market power.
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: Miguel Sousa Ferro Publisher: Edward Elgar Publishing ISBN: 1788118391 Category : Antitrust law Languages : en Pages : 522
Book Description
The maintenance of a fair, competitive market among member states is critical to the functioning of the EU economy. In this book, the first comprehensive, unifying view of market definition, Miguel Ferro adeptly explores the different economic-legal issues that arise in EU competition law.
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: Lawrence J. Gitman Publisher: ISBN: Category : Business & Economics Languages : en Pages : 1455
Book Description
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Author: Massimo Motta Publisher: Cambridge University Press ISBN: 9780521016919 Category : Business & Economics Languages : en Pages : 650
Book Description
This is the first book to provide a systematic treatment of the economics of antitrust (or competition policy) in a global context. It draws on the literature of industrial organisation and on original analyses to deal with such important issues as cartels, joint-ventures, mergers, vertical contracts, predatory pricing, exclusionary practices, and price discrimination, and to formulate policy implications on these issues. The interaction between theory and practice is one of the main features of the book, which contains frequent references to competition policy cases and a few fully developed case studies. The treatment is written to appeal to practitioners and students, to lawyers and economists. It is not only a textbook in economics for first year graduate or advanced undergraduate courses, but also a book for all those who wish to understand competition issues in a clear and rigorous way. Exercises and some solved problems are provided.
Author: Martina Lauchengco Publisher: John Wiley & Sons ISBN: 1119703646 Category : Business & Economics Languages : en Pages : 295
Book Description
Most tech companies get marketing wrong because they don't know how to do product marketing right. The next in the bestselling SVPG series, LOVED shows what leaders like Apple, Netflix, Microsoft, and Salesforce do well and how to apply it to transform product marketing at your company. The best products can still lose in the marketplace. Why? They are beaten by products with stronger product marketing. Good product marketing is the difference between “also-ran” products versus products that lead. And yet, product marketing is widely misunderstood. Although it includes segmenting customers, positioning your product, creating product collateral, and supporting sales teams, great product marketing achieves much more. It directs the best way to bring your product to market. It shapes what the world thinks about your product and category. It inspires others to tell your product’s story. Part of the bestselling series including INSPIRED and EMPOWERED, LOVED explains the fundamentals of best-in-class product marketing for product teams, marketers, founders and any leader with a product and a vision. Sharing her personal stories as a former product and marketing leader at Microsoft and Netscape, and as an advisor to Silicon Valley startups, venture capitalist, and UC Berkeley engineering graduate school lecturer, Martina Lauchengco distills decades of lessons gleaned from working with hundreds of companies to make LOVED the definitive guide to modern product marketing. With dozens of stories from the trenches of market leaders as well as newer startups with products just beginning their journey, the book shows you: the centrality of product marketing to any product’s success the key skills and actions required to do it well the four fundamentals of product marketing and how to apply them how to hire, lead, and organize product marketing how product marketers optimize crucial collaboration with other functions one-sheet frameworks, tools and agile marketing practices that help simplify and elevate product marketing LOVED is an invitation to rethink tired notions of product marketing and practice a more dynamic, customer and market-centric version that creates raving fans and helps products achieve their full market potential.
Author: American Bar Association. Section of Antitrust Law Publisher: American Bar Association ISBN: 9781590315217 Category : Business & Economics Languages : en Pages : 178
Book Description
Have you ever wondered what a therapist really thinks? Have you ever wondered if a therapist truly cares about her patients? Have you tried to imagine the unimaginable, the loss of the person most dear to you? Is it true that `tis better to have loved and lost, than never to have loved at all? ` Love and loss are a ubiquitous part of life, bringing the greatest joys and the greatest heartaches. In one way or another all relationships end. People leave, move on, die. Loss is an ever-present part of life. In Love and Loss, Linda B. Sherby illustrates that in order to grow and thrive, we must learn to mourn, to move beyond the person we have lost while taking that person with us in our minds. Love, unlike loss, is not inevitable but, she argues, no satisfying life can be lived without deeply meaningful relationships. The focus of Love and Loss is how patients' and therapists' independent experiences of love and loss, as well as the love and loss that they experience in the treatment room, intermingle and interact. There are always two people in the consulting room, both of whom are involved in their own respective lives, as well as the mutually responsive relationship that exists between them. Love and loss in the life of one of the parties affects the other, whether that affect takes place on a conscious or unconscious level. Love and Loss is unique in two respects.The first is its focus on the analyst's current life situation and how that necessarily affects both the patient and the treatment. The second is Sherby's willingness to share the personal memoir of her own loss which she has interwoven with extensive clinical material to clearly illustrate the effect the analyst's current life circumstance has on the treatment. Writing as both a psychoanalyst and a widow, Linda B. Sherby makes it possible for the reader to gain an inside view of the emotional experience of being an analyst, making this book of interest to a wide audience. Professionals from psychoanalysts and psychotherapists and bereavement specialists through students in all the mental health fields to the public in general, will resonate and learn from this heartfelt and straightforward book.
Author: Franz Jürgen Säcker
Author: Daniel Gore
Author: Viktoria H S E Robertson
Author: Jens-Uwe Franck
Author: Miguel Sousa Ferro
Author: Robert Bork
Author: Lawrence J. Gitman
Author: Massimo Motta
Author: Martina Lauchengco
Author: American Bar Association. Section of Antitrust Law