Antitrust Implications Of Competition Without Equilibrium In Multisided Markets
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Antitrust Implications Of Competition Without Equilibrium In Multisided Markets
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Author : Justin (Gus) Hurwitz
language : en
Publisher:
Release Date : 2011
Antitrust Implications Of Competition Without Equilibrium In Multisided Markets written by Justin (Gus) Hurwitz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
A substantial literature on multisided markets - markets with multiple distinct groups of consumers who care about the extent of participation of other groups in the market - has developed over the past decade. This literature has not given substantial consideration to a critical characteristic of these markets: under competitive conditions multisided markets do not have a unique endogenous equilibrium. This is markedly different from most traditional markets, in which competition tends to push the market into a unique equilibrium - an equilibrium that has the fortunate characteristic of maximizing social welfare. This has potentially important ramifications for antitrust law, which is largely predicated on the assumption that competition causes markets to tend towards a welfare maximizing equilibrium. This paper considers circumstances under which traditional antitrust analysis may predictably be led astray by multisidedness, and factors that we may consider to avoid such errors. Generally, antitrust analysis of multisided markets requires different understandings of market power and competitive effects. Unlike in traditional markets, in some cases multisided market power may actually limit a firm's ability to engage in anticompetitive conduct; conversely, in other cases reducing a firm's market power may reduce social welfare. In terms of competitive effects, we need to look at how firms compete in multisided markets and how this process of competition affects social welfare. A central, and unique, element of competition in multisided markets is that firms compete by trying to get each side of the market to identify them with high-value participants of the other sides of the market. In addition, two analytical factors critical to understanding the effects of competition on social welfare are the need to understand the direction (positive or negative) of effects that changed participation on one side of the market has on the other sides, and the need to look at the effect that such changes have on the average (not the marginal) consumer. Each of these considerations stands out as different from both traditional understandings of competition and traditional approaches to antitrust analysis. By identifying these differences and discussing how to think about them, this paper helps to improve how we think about this important class of markets - and hopefully will help to avoid harmful antitrust and regulatory action in them.
Competition Innovation And Antitrust
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Author : Federico Etro
language : en
Publisher: Springer
Release Date : 2010-10-14
Competition Innovation And Antitrust written by Federico Etro and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-14 with Science categories.
This book reviews recent progress in the theory of oligopoly and market leadership and provides new results on the theory of Stackelberg competition and Nash competition with strategic investment under endogenous entry. These theories are applied to models of competition in quantities, prices and to patent races. The results are used to propose a new approach to competition policy and issues of the abuse of dominance.
Recent Advances In The Analysis Of Competition Policy And Regulation
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Author : Joseph E. Harrington
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Recent Advances In The Analysis Of Competition Policy And Regulation written by Joseph E. Harrington and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
'This volume collects a number of original, cutting-edge contributions that take the reader swiftly and easily to the frontier of research on most of the current hot topics in industrial organization, antitrust and regulation. Skillfully edited by two outstanding leaders in the field, the volume will be a precious source for students, researchers and practitioners that need to figure out what research has achieved in recent years on these important policy issues.' Giancarlo Spagnolo, SITE Stockholm School of Economics and University of Tor Vergata, Sweden This state-of-the-art volume highlights important recent research contributions covering all the significant themes surrounding competition policy and regulation, including financial regulation and multisided markets. Bringing scholars and policymakers to the frontiers of research and addressing the critical issues of the day, the book presents original important new theoretical and empirical results. The distinguished contributors include: P. Agrel, K. Alexander, J. Crémer, X. Dassiou, G. Deltas, F. Etro, L. Filistrucchi, P. Fotis, M. Gilli, J. Harrington Jr, T. Huertas, M. Ivaldi, B. Jullien, V. Marques, M. Peitz, Y. Spiegel, E. Tarrantino and G. Wood. Recent Advances in the Analysis of Competition Policy and Regulation will prove insightful for academic economists, consultants and policymakers interested in these fields.
Does Price Discrimination Intensify Competition
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Author : James C. Cooper
language : en
Publisher:
Release Date : 2014
Does Price Discrimination Intensify Competition written by James C. Cooper and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Antitrust law categories.
Market Definition And Market Power In Payment Card Networks
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Author : Eric Emch
language : en
Publisher:
Release Date : 2006
Market Definition And Market Power In Payment Card Networks written by Eric Emch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Affinity credit cards categories.
The Antitrust Paradox
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Author : Robert Bork
language : en
Publisher:
Release Date : 2021-02-22
The Antitrust Paradox written by Robert Bork and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-22 with categories.
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.
Industrial Organization
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Author : Paul Belleflamme
language : en
Publisher: Cambridge University Press
Release Date : 2010-01-07
Industrial Organization written by Paul Belleflamme and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-07 with Business & Economics categories.
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.
Matchmakers
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Author : David S. Evans
language : en
Publisher: Harvard Business Review Press
Release Date : 2016-05-03
Matchmakers written by David S. Evans and has been published by Harvard Business Review Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-03 with Business & Economics categories.
A different kind of matchmaker. Many of the most dynamic public companies, from Alibaba to Facebook to Visa, and the most valuable start-ups, such as Airbnb and Uber, are matchmakers that connect one group of customers with another group of customers. Economists call matchmakers multisided platforms because they provide physical or virtual platforms for multiple groups to get together. Dating sites connect people with potential matches, for example, and ride-sharing apps do the same for drivers and riders. Although matchmakers have been around for millennia, they’re becoming more and more popular—and profitable—due to dramatic advances in technology, and a lot of companies that have managed to crack the code of this business model have become today’s power brokers. Don’t let the flashy successes fool you, though. Starting a matchmaker is one of the toughest business challenges, and almost everyone who tries to build one, fails. In Matchmakers, David Evans and Richard Schmalensee, two economists who were among the first to analyze multisided platforms and discover their principles, and who’ve consulted for some of the most successful platform businesses in the world, explain how matchmakers work best in practice, why they do what they do, and how entrepreneurs can improve their chances for success. Whether you’re an entrepreneur, an investor, a consumer, or an executive, your future will involve more and more multisided platforms, and Matchmakers—rich with stories from platform winners and losers—is the one book you’ll need in order to navigate this appealing but confusing world.
Handbook Of Industrial Organization
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Author : Richard Schmalensee
language : en
Publisher: North Holland
Release Date : 1989-09-11
Handbook Of Industrial Organization written by Richard Schmalensee and has been published by North Holland this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-09-11 with Business & Economics categories.
Handbook of industrial organization/Schmalensee.-V.2.
Natural Monopolies In Digital Platform Markets
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Author : Francesco Ducci
language : en
Publisher: Cambridge University Press
Release Date : 2020-07-23
Natural Monopolies In Digital Platform Markets written by Francesco Ducci and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-23 with Business & Economics categories.
Through three case studies, this book investigates whether digital industries are naturally monopolistic and evaluates policy approaches to market power.