Federico Etro

Competition, Innovation, and Antitrust (eBook, PDF)

A Theory of Market Leaders and Its Policy Implications

• Format: PDF

Produktbeschreibung

Competition, Innovation, and Antitrust develops a theory of market leadership in the presence of endogenous entry of firms and applies it to models of competition in the market and for the market. On this basis, the author provides a new approach to antitrust policy which is in support of the Chicago school but founded on a solid game-theoretic framework. The analysis is applied to the study of market leadership in the New Economy and of the recent antitrust cases involving Microsoft.

Federico Etro is Associate Professor of Economics at the University of Milan, Bicocca, and President of the International Think-tank on Innovation and Competition. He has publications on leading international journals as The American Economic Review, The RAND Journal of Economics, The Economic Journal and others, and is a consultant for international organizations and companies on industrial and antitrust policy.

This book explores the role of leadership in the economic theory of oligopoly, both for static oligopoly and for dynamic patent races. I thoroughly enjoyed its refreshing perspective. Simon Anderson, University of Virginia

The simple but fundamental result on aggressive pricing by leaders facing endogenous entry, which has eluded researchers on the foundations of industrial organization so far, is bound to have a significant impact on the way people think about market entry, the role of potential competition, and issues of timing, strategic commitment and incumbency. Rabah Amir, University of Arizona

In this innovative and thoughtful book, Etro provides a novel approach to competition policy in innovative industries. Building on the notion of Stackelberg equilibrium with endogenous entry, which he has himself contributed to develop, he highlights the crucial role of potential competition in determining market performance. It will be of great value to scholars and visionary practitioners, and may hopefully have a large impact on competition policy. Vincenzo Denicolò, University of Bologna

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Produktdetails

• Verlag: Springer Berlin Heidelberg
• Seitenzahl: 283
• Erscheinungstermin: 5. September 2007
• Englisch
• ISBN-13: 9783540496014
• Artikelnr.: 37371029

Autorenporträt

Federico Etro, University of Milano, Bicocca, Italy

Inhaltsangabe

Competition, Leadership and Entry.- Strategic Commitments and Endogenous Entry.- Stackelberg Competition and Endogenous Entry.- Dynamic Competition and Endogenous Entry.- Antitrust and Abuse of Dominance.- Microsoft Economics.- Epilogue.- References.

Rezensionen

From the reviews: "Etro's Competition, Innovation and Antirust is a remarkable and quite unique piece of work ... . any serious future scholarly article or textbooks that deal with competition and market structures or antitrust issues will have to cite, and that any serious and conscientious teacher of industrial organization should recommend as reading to their students. Needless to say, the book is already playing a prominent role on my upgraded syllabus for the graduate course of industrial organization for this academic year." (KreSimir Zigic, European Competition Journal, Vol. 3 (2), 2007) "The key insight that forms the backbone of this book by Federico Etro ... is that a market leader faced with endogenous entry, subsequent to the leader's output decision, can produce enough to deter entry, thus giving rise to a limit price and high overall market performance. ... The book also offers a nice historical perspective on both the relevant theoretical foundations and the extant policy debates on antitrust issues, which is likely to be useful to young scholars." (Rabah Amir, www.intertic.org, March, 2008) "In this innovative and thoughtful book, Federico Etro provides a novel approach to competition policy in innovative industries. Building on the notion of Stackelberg equilibrium with endogenous entry, which he has himself contributed to develop, he highlights the crucial role of potential competition in research in determining market performance. ... This book will be of great value to scholars and visionary practitioners, and may hopefully have a large impact on policy." (Vincenzo Denicolo, www.intertic.org, March, 2008) "This book explores the role of leadership in the economic theory of oligopoly, both for static oligopoly and for dynamic patent race games of R&D. It provides valuable service in reviewing existing models and extending them to careful consideration of the role of the first mover; in particular, to allowing for the leader to take into account the effects of its actions on entry and hence subsequent market structure. I thoroughly enjoyed its refreshing perspective." (Simon Anderson, www.intertic.org, March, 2008)