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Price Competition And Product Differentiation When Goods Have Network Effects
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Book Synopsis Handbook of Industrial Organization by : Richard Schmalensee
Download or read book Handbook of Industrial Organization written by Richard Schmalensee and published by North Holland. This book was released on 1989-09-11 with total page 1002 pages. Available in PDF, EPUB and Kindle. Book excerpt: Determinants of firm and market organization; Analysis of market behavior; Empirical methods and results; International issues and comparision; government intervention in the Marketplace.
Book Synopsis The Economics of Platforms by : Paul Belleflamme
Download or read book The Economics of Platforms written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2021-11-11 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digital platforms controlled by Alibaba, Alphabet, Amazon, Facebook, Netflix, Tencent and Uber have transformed not only the ways we do business, but also the very nature of people's everyday lives. It is of vital importance that we understand the economic principles governing how these platforms operate. This book explains the driving forces behind any platform business with a focus on network effects. The authors use short case studies and real-world applications to explain key concepts such as how platforms manage network effects and which price and non-price strategies they choose. This self-contained text is the first to offer a systematic and formalized account of what platforms are and how they operate, concisely incorporating path-breaking insights in economics over the last twenty years.
Book Synopsis Market definition and market power in the platform economy by : Jens-Uwe Franck
Download or read book Market definition and market power in the platform economy written by Jens-Uwe Franck and published by Centre on Regulation in Europe asbl (CERRE). This book was released on 2019-05-08 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Economics of Network Industries by : Oz Shy
Download or read book The Economics of Network Industries written by Oz Shy and published by Cambridge University Press. This book was released on 2001-01-08 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces upper-level undergraduates, graduate students, and researchers to the latest developments in network economics, one of the fastest-growing fields in all industrial organization. Network industries include the Internet, e-mail, telephony, computer hardware and software, music and video players, and service operations in the banking, legal, and airlines industries among many others. The work offers an overview of the subject matter as well as investigations about specific industries. It conveys the essential features of how strategic interactions between firms are affected by network activity, as well as covering social interaction and its influence on consumers' choices of products and services. Virtually no calculus is used in the text, and each chapter ends with a series of exercises and selected references. The text may be used for both one- and two-semester courses.
Book Synopsis The Antitrust Paradox by : Robert Bork
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Handbook of Industrial Organization by : Mark Armstrong
Download or read book Handbook of Industrial Organization written by Mark Armstrong and published by Elsevier. This book was released on 2007-10-05 with total page 943 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is Volume 3 of the Handbook of Industrial Organization series (HIO). Volumes 1 & 2 published simultaneously in 1989 and many of the chapters were widely cited and appeared on graduate reading lists. Since the first volumes published, the field of industrial organization has continued to evolve and this volume fills the gaps. While the first two volumes of HIO contain much more discussion of the theoretical literature than of the empirical literature, it was representative of the field at that time. Since then, the empirical literature has flourished, while the theoretical literature has continued to grow, and this new volume reflects that change of emphasis.Thie volume is an excellent reference and teaching supplement for industrial organization or industrial economics, the microeconomics field that focuses on business behavior and its implications for both market structures and processes, and for related public policies.*Part of the renowned Handbooks in Economics series*Chapters are contributed by some of the leading experts in their fields*A source, reference and teaching supplement for industrial organizations or industrial economists
Book Synopsis Handbook of Industrial Organization by : Kate Ho
Download or read book Handbook of Industrial Organization written by Kate Ho and published by Elsevier. This book was released on 2021-12-09 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Industrial Organization Volume 4 highlights new advances in the field, with this new volume presenting interesting chapters. Each chapter is written by an international board of authors. Part of the renowned Handbooks in Economics series Chapters are contributed by some of the leading experts in their fields A source, reference and teaching supplement for industrial organizations or industrial economists
Book Synopsis Competition in Telecommunications by : Jean-Jacques Laffont
Download or read book Competition in Telecommunications written by Jean-Jacques Laffont and published by MIT Press. This book was released on 2001 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors analyze regulatory reform and the emergence of competitionin network industries using the state-of-the-art theoretical tools ofindustrial organization, political economy, and the economics ofincentives.
Book Synopsis Better, Simpler Strategy by : Felix Oberholzer-Gee
Download or read book Better, Simpler Strategy written by Felix Oberholzer-Gee and published by Harvard Business Press. This book was released on 2021-04-20 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Named one of the best strategy books of 2021 by strategy+business Get to better, more effective strategy. In nearly every business segment and corner of the world economy, the most successful companies dramatically outperform their rivals. What is their secret? In Better, Simpler Strategy, Harvard Business School professor Felix Oberholzer-Gee shows how these companies achieve more by doing less. At a time when rapid technological change and global competition conspire to upend traditional ways of doing business, these companies pursue radically simplified strategies. At a time when many managers struggle not to drown in vast seas of projects and initiatives, these businesses follow simple rules that help them select the few ideas that truly make a difference. Better, Simpler Strategy provides readers with a simple tool, the value stick, which every organization can use to make its strategy more effective and easier to execute. Based on proven financial mechanics, the value stick helps executives decide where to focus their attention and how to deepen the competitive advantage of their business. How does the value stick work? It provides a way of measuring the two fundamental forces that lead to value creation and increased financial success—the customer's willingness-to-pay and the employee's willingness-to-sell their services to the business. Companies that win, Oberholzer-Gee shows, create value for customers by raising their willingness-to-pay, and they provide value for talent by lowering their willingness-to-sell. The approach, proven in practice, is entirely data driven and uniquely suited to be cascaded throughout the organization. With many useful visuals and examples across industries and geographies, Better, Simpler Strategy explains how these two key measures enable firms to gauge and improve their strategies and operations. Based on the author's sought-after strategy course, this book is your must-have guide for making better strategic decisions.
Book Synopsis Emerging Markets and E-Commerce in Developing Economies by : Rouibah, Kamel
Download or read book Emerging Markets and E-Commerce in Developing Economies written by Rouibah, Kamel and published by IGI Global. This book was released on 2008-10-31 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book provides researchers readers with a synthesis of current research on developing countries experience with e-commerce"--Provided by publisher.
Book Synopsis FCC Record by : United States. Federal Communications Commission
Download or read book FCC Record written by United States. Federal Communications Commission and published by . This book was released on 2006 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Mauricio Matos Peixoto Publisher :Springer Science & Business Media ISBN 13 :3642147887 Total Pages :757 pages Book Rating :4.6/5 (421 download)
Book Synopsis Dynamics, Games and Science II by : Mauricio Matos Peixoto
Download or read book Dynamics, Games and Science II written by Mauricio Matos Peixoto and published by Springer Science & Business Media. This book was released on 2011-05-27 with total page 757 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dynamics, Games and Science I and II are a selection of surveys and research articles written by leading researchers in mathematics. The majority of the contributions are on dynamical systems and game theory, focusing either on fundamental and theoretical developments or on applications to modeling in biology, ecomonics, engineering, finances and psychology. The papers are based on talks given at the International Conference DYNA 2008, held in honor of Mauricio Peixoto and David Rand at the University of Braga, Portugal, on September 8-12, 2008. The aim of these volumes is to present cutting-edge research in these areas to encourage graduate students and researchers in mathematics and other fields to develop them further.
Book Synopsis The Economics of Information Technology by : Hal R. Varian
Download or read book The Economics of Information Technology written by Hal R. Varian and published by Cambridge University Press. This book was released on 2004-12-23 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis EU Competition Law and the Information and Communication Technology Network Industries by : Andrej Fatur
Download or read book EU Competition Law and the Information and Communication Technology Network Industries written by Andrej Fatur and published by Bloomsbury Publishing. This book was released on 2012-03-08 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition policies have long been based on a scholarly tradition focused on static models and static analysis of industrial organisation. However, recent developments in industrial organisation literature have led to significant advances, moving beyond traditional static models and a preoccupation with price competition, to consider the organisation of industries in a dynamic context. This is especially important in the field of information and communication technology (ICT) network industries where competition centres on network effects, innovation and intellectual property rights, and where the key driver of consumer benefit is technological progress. Consequently, when an antitrust intervention is contemplated, a number of considerations that arise out of the specific nature of the ICT sector have to be taken into account to ensure improved consumer welfare. This book considers the adequacy of existing EU competition policy in the area of the ICT industries in the light of the findings of modern economic theory. Particular attention is given to the implications of these dynamic markets for the competitive assessment and treatment of the most common competitive harms in this area, such as non-price predatory practices, tying and bundling, co-operative standard setting, platform joint ventures and co-operative R&D.
Book Synopsis The Economic and Business Consequences of the EMU by : Hubert Ooghe
Download or read book The Economic and Business Consequences of the EMU written by Hubert Ooghe and published by Springer Science & Business Media. This book was released on 2000-09-30 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: To make a first assessment after about a year's experience with economic and monetary union; 2. To examine the impact of EMU and the introduction of the Euro in various areas of economic policy, involving both government and the corporate sector including the banking industry; 3. To provide an insight into the challenges that the Euro offers for the coming years with respect both to macro-economic policy and the development of the financial markets and with respect to business management.
Book Synopsis Natural Monopolies in Digital Platform Markets by : Francesco Ducci
Download or read book Natural Monopolies in Digital Platform Markets written by Francesco Ducci and published by Cambridge University Press. This book was released on 2020-07-23 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through three case studies, this book investigates whether digital industries are naturally monopolistic and evaluates policy approaches to market power.
Book Synopsis Industrial Organization by : Paul Belleflamme
Download or read book Industrial Organization written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2010-01-07 with total page 725 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
