Effect Of Entry Barriers On Prices Charged By Incumbent Firms Strengths And Weaknesses Of Underlying Economic Theory
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Effect Of Entry Barriers On Prices Charged By Incumbent Firms Strengths And Weaknesses Of Underlying Economic Theory
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Author : Dimitar Vasilev
language : en
Publisher: GRIN Verlag
Release Date : 2011-10-25
Effect Of Entry Barriers On Prices Charged By Incumbent Firms Strengths And Weaknesses Of Underlying Economic Theory written by Dimitar Vasilev and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-25 with Business & Economics categories.
Essay from the year 2011 in the subject Economics - Finance, grade: 1,3, University of Portsmouth, language: English, abstract: Entry prevention in imperfectly contestable industrial markets has been topic of extensive interest among academics. This paper seeks to explain effects of entry barriers on incumbent firms’ pricing decisions. Underlying economic theory is critically assessed, evaluating credibility of strategic pricing behavior models in the context of real-life business environment.
Barriers To Entry And Strategic Competition
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Author : P. Gilbert Geroski
language : en
Publisher: Taylor & Francis
Release Date : 2013-06-17
Barriers To Entry And Strategic Competition written by P. Gilbert Geroski and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-17 with Business & Economics categories.
This volume discusses crucial issues in the overlap between industrial organization and strategic management.
What Is The Impact Of Increased Business Competition
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Author : Sónia Félix
language : en
Publisher: International Monetary Fund
Release Date : 2019-12-13
What Is The Impact Of Increased Business Competition written by Sónia Félix and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-13 with Business & Economics categories.
This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that reduced entry time and costs. Using the staggered implementation of the policy across the Portuguese municipalities, we find that the reform increased local entry and employment by, respectively, 25% and 4.8% per year in its first four years of implementation. Moreover, around 60% of the increase in employment came from incumbent firms expanding their size, with most of the rise occurring among the most productive firms. Standard models of firm dynamics, which assume a constant elasticity of substitution, are inconsistent with the expansionary and heterogeneous response across incumbent firms. We show that in a model with heterogeneous firms and variable markups the most productive firms face a lower demand elasticity and expand their employment in response to increased entry.
The Economics And Implications Of Data
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Author : Mr.Yan Carriere-Swallow
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-23
The Economics And Implications Of Data written by Mr.Yan Carriere-Swallow and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-23 with Computers categories.
This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks.
Market Definition And Market Power In The Platform Economy
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Author : Jens-Uwe Franck
language : en
Publisher: Centre on Regulation in Europe asbl (CERRE)
Release Date : 2019-05-08
Market Definition And Market Power In The Platform Economy written by Jens-Uwe Franck and has been published by Centre on Regulation in Europe asbl (CERRE) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-08 with Law categories.
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.
The Regulation Of Entry
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Author : Simeon Djankov
language : en
Publisher:
Release Date : 2001
The Regulation Of Entry written by Simeon Djankov and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Barriers to entry (Industrial organization) categories.
New data show that countries that regulate the entry of new firms more heavily have greater corruption and larger unofficial economies, but not better quality goods. The evidence supports the view that regulating entry benefits politicians and bureacrats.
European Competition Law And Economics
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Author : Roger van den Bergh
language : en
Publisher: Intersentia nv
Release Date : 2001
European Competition Law And Economics written by Roger van den Bergh and has been published by Intersentia nv this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Antitrust law categories.
The aim of this book is to explore the economic fundamentals of European competition law.
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.
Multi Dimensional Approaches Towards New Technology
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Author : Ashish Bharadwaj
language : en
Publisher: Springer
Release Date : 2018-07-23
Multi Dimensional Approaches Towards New Technology written by Ashish Bharadwaj and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-23 with Law categories.
This open access edited book captures the complexities and conflicts arising at the interface of intellectual property rights (IPR) and competition law. To do so, it discusses four specific themes: (a) policies governing functioning of standard setting organizations (SSOs), transparency and incentivising future innovation; (b) issue of royalties for standard essential patents (SEPs) and related disputes; (c) due process principles, procedural fairness and best practices in competition law; and (d) coherence of patent policies and consonance with competition law to support innovation in new technologies. Many countries have formulated policies and re-oriented their economies to foster technological innovation as it is seen as a major source of economic growth. At the same time, there have been tensions between patent laws and competition laws, despite the fact that both are intended to enhance consumer welfare. In this regard, licensing of SEPs has been debated extensively, although in most instances, innovators and implementers successfully negotiate licensing of SEPs. However, there have been instances where disagreements on royalty base and royalty rates, terms of licensing, bundling of patents in licenses, pooling of licenses have arisen, and this has resulted in a surge of litigation in various jurisdictions and also drawn the attention of competition/anti-trust regulators. Further, a lingering lack of consensus among scholars, industry experts and regulators regarding solutions and techniques that are apposite in these matters across jurisdictions has added to the confusion. This book looks at the processes adopted by the competition/anti-trust regulators to apply the principles of due process and procedural fairness in investigating abuse of dominance cases against innovators.
The Economic Assessment Of Mergers Under European Competition Law
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Author : Daniel Gore
language : en
Publisher: Cambridge University Press
Release Date : 2013-04-25
The Economic Assessment Of Mergers Under European Competition Law written by Daniel Gore 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 2013-04-25 with Business & Economics categories.
Provides a clear, concise and practical overview of the key economic techniques and evidence employed in European merger control.