The Economics Of Competition

Author : George G Djolov
Publisher : Routledge
Page : 349 pages
File Size : 51,6 Mb
Release : 2014-07-16
Category : Business & Economics
ISBN : 9781317717898

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The Economics of Competition by George G Djolov Pdf

A comprehensive examination of the ways competition and innovations level the playing field in the free market The Economics of Competition uses the South African pharmaceutical industry as a case study to cogently challenge accepted economic and regulatory views on competition and monopoly, then re-establishes and emphasizes the importance of foundational economic principles. The book comprehensively explores the concept that monopoly is self-limiting within unrestricted competition, as well as the various market features of competition, innovation, and market power. This detailed examination broadens understanding of the economics of competition for both scholars and practitioners. Competition is seen as a continuous process in a free market. The Economics of Competition thoughtfully explores the competitive process in its two mechanisms, the transfer of market share from one rival to another, and innovation of a new product, new method of production, new market opening, or new source of supply of raw materials. The dynamic nature of the marketplace is thoroughly examined from the author's inside view of the South African pharmaceutical industry. This provides a rare opportunity to closely examine an industry considered to be a monopoly while actively applying economic theories of competition and freedom of choice. The effects of public policy, legislation, and pricing regulations are discussed in detail. The book has several tables and figures to enhance clarity and is extensively referenced. The Economics of Competition discusses: * monopoly and rivalry in the free market * theories of perfect competition * innovation as a controlling variable * pricing and price differentiation * barriers to competitionincluding historical and contemporary legislative barriers * horizontal mergers and acquisitions as a key aspect of market power * and more!The Economics of Competition is insightful, thought-provoking reading for policymakers as well as anyone practising antitrust law, microeconomics, industrial economics, managerial economics, marketing strategy, theoretical public health, and students and educators of marketing and economics.

Author : Claude d’Aspremont,Rodolphe Dos Santos Ferreira
Publisher : Springer Nature
Page : 160 pages
File Size : 50,5 Mb
Release : 2021-05-18
Category : Business & Economics
ISBN : 9783030636029

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The Economics of Competition, Collusion and In-between by Claude d’Aspremont,Rodolphe Dos Santos Ferreira Pdf

This book provides a methodology for the analysis of oligopolistic markets from an equilibrium viewpoint, considering competition within and between groups of firms. It proposes a well-founded measure of competitive toughness that can be used in empirically relevant applications. This measure reflects the weight put by each firm on competition for market share relative to competition for market size – two dimensions of competition involving conflicting and convergent interests, respectively. It further explores several applications, such as the effect of tougher competition on innovation and of output market power on the emergence of involuntary unemployment, as well as the importance of strategic interactions for investment decisions. Relative to the dominant model of monopolistic competition, The Economics of Competition, Collusion and In-between aims to explore an alternative tractable model of firm competition opening the application of oligopoly theory to many fields in economics where general equilibrium features are crucial. It will be relevant to those interested in applied industrial organization, trade, macroeconomics (in particular macrodynamics) and quantitative economics.

Author : Gunnar Niels,Helen Jenkins,James Kavanagh
Publisher : Oxford University Press, USA
Page : 637 pages
File Size : 48,9 Mb
Release : 2011-04-07
Category : Business & Economics
ISBN : 9780199588510

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Economics for Competition Lawyers by Gunnar Niels,Helen Jenkins,James Kavanagh Pdf

Economics for Competition Lawyers provides a comprehensive explanation of the economic principles most relevant for competition law. Written specifically for competition lawyers, it uses real-world examples, is non-technical, and explains the key points from first principles.

Author : Plácido Rodríguez,Stefan Késenne,Ruud Koning
Publisher : Edward Elgar Publishing
Page : 240 pages
File Size : 47,5 Mb
Release : 2015-05-29
Category : Sports & Recreation
ISBN : 9781783474769

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The Economics of Competitive Sports by Plácido Rodríguez,Stefan Késenne,Ruud Koning Pdf

The essence of any sports contest is competition. The very unpredictability of a sporting outcome distinguishes it from, say, an opera performance. This volume presents a state of the art overview of the economics of competitive sport along two main th

Author : Emmanuel Combe
Publisher : Kluwer Law International B.V.
Page : 460 pages
File Size : 52,6 Mb
Release : 2021-11-22
Category : Law
ISBN : 9789403537511

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Competition Policy by Emmanuel Combe Pdf

Competition Policy An Empirical and Economic Approach Emmanuel Combe It is a truism of competition that, paradoxically, those who were responsible for yesterday’s innovations and productivity become obstacles to future growth. This is why competition law has been assigned such an important role in modern countries—to detect and sanction anticompetitive practices that prevent the entry of new, efficient competitors. This utterly original book, which thoroughly explains competition policy using economic analyses of European and U.S. antitrust cases, illuminates the complex but crucial back-and-forth between economic theory and competition law practice. Covering the full range of competition policy, from antitrust (cartels, abuse of dominant position) to merger control, the book not only offers a general view of competition policy in Europe and the United States but also clearly explains the economic underpinnings that guide it, thus illustrating how principles are applied in practice. Issues and topics include the following: economic approach of antitrust sanctions; role of criminal sanctions and private actions; factors favoring cartel formation and stability; role of leniency policies; vertical restraints in the age of e-commerce; economic assessment of R&D and licensing agreements; detecting and sanctioning predatory pricing; exploitative and exclusionary abuses; and impact of a horizontal, vertical and conglomerate mergers on competition. All the major fields of competition policy are clearly explained, with many illustrative examples from case law. There is also a chapter presenting an overview of competition policies around the world, as well as the legal and institutional framework within which they operate. At a time of increasing public concern regarding high industrial concentration, especially in the digital sector, the question of regulating competition is returning to the forefront. Given that the concepts and tools of economic analysis are widely used by competition authorities, this book gives lawyers a clear understanding of the objectives and instruments of competition policy. It will thus enable corporate counsel, academics, and policymakers to apply or formulate competition law with increased precision in their day-to-day work.

Author : Joan Robinson
Publisher : Springer
Page : 359 pages
File Size : 50,6 Mb
Release : 1969-07-01
Category : Business & Economics
ISBN : 9781349153206

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The Economics of Imperfect Competition by Joan Robinson Pdf

Author : Klaus Mathis,Avishalom Tor
Publisher : Springer
Page : 358 pages
File Size : 46,6 Mb
Release : 2019-03-18
Category : Law
ISBN : 9783030116118

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New Developments in Competition Law and Economics by Klaus Mathis,Avishalom Tor Pdf

This book further develops both the traditional and the behavioural approach to competition law, and applies these approaches to a variety of timely issues. It discusses several fundamental questions regarding competition law and economics, and explores the applications of competition law and economics. In turn, the book analyses the interplay of intellectual property rights and patents in various aspects of competition law, and investigates the impacts that developments in information technology, such as big data analytics, have on competition law. The book also discusses the impact of energy law reforms on energy markets from a competition law perspective. Competition law is a classic field of economic analysis. This is largely due to the fact that competition law uses terms such as market, price, and competition and must therefore rely on economic know-how and analyses. In the United States, economic analysis has greatly influenced not just the scholarship on antitrust law, but also judicial decisions and agency enforcement. Antitrust law and economics are based on the traditional paradigm of neoclassical economics, which relies on the assumption that the market players, i.e. consumers and producers, are rational. This approach to competition law was later received in Europe under the banner of a “more economic approach”. For the past two decades, behavioural law and economics, which seeks to generate better insights into legal phenomena by providing more realistic psychological foundations for economic models, and to offer a multitude of applications in legislation and legal adjudication, has challenged the traditional economic approach to law in general and, more recently, to competition law specifically.

Author : Anwar Shaikh
Publisher : Oxford University Press
Page : 896 pages
File Size : 47,7 Mb
Release : 2016-01-15
Category : Business & Economics
ISBN : 9780199390656

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Capitalism by Anwar Shaikh Pdf

Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.

Author : Frank Machovec
Publisher : Routledge
Page : 408 pages
File Size : 55,9 Mb
Release : 2002-09-26
Category : Business & Economics
ISBN : 9781134820221

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Perfect Competition and the Transformation of Economics by Frank Machovec Pdf

Frank Machovec argues that the assumption of perfect information has done untold economic damage. It has provided the rationale for active state intervention and has obscured the extent to which entrepreneurial activity depends upon the exploitation of asymmetric information.

Author : George G. Djolov
Publisher : Unknown
Page : 344 pages
File Size : 46,6 Mb
Release : 2007-01-01
Category : Electronic
ISBN : 817992761X

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The Economics Of Competition by George G. Djolov Pdf

Are monopolies truly a problem in a free market?Competition is seen as a continuous process in a free market. This book comprehensively explores the competitive process in its two mechanisms, the transfer of market share from one rival to another, and innovation of a new product, new method of production, new market opening, or new source of supply of raw materials. The Economics of Competition uses the South African pharmaceutical industry as a case study to challenge accepted economic and regulatory views on competition and monopoly, then re-establishes and emphasizes the importance of foundational economic principles. The effects of public policy, legislation, and pricing regulations are discussed in detail. The book has several tables and figures to enhance clarity and is extensively referenced.This detailed examination is designed to be useful and informative for scholars and practitioners of competition (antitrust) law, microeconomics, industrial economics, industrial organization, managerial economics, and marketing strategy.

Author : George G Djolov
Publisher : Routledge
Page : 354 pages
File Size : 53,8 Mb
Release : 2014-07-16
Category : Business & Economics
ISBN : 9781317717881

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The Economics of Competition by George G Djolov Pdf

A comprehensive examination of the ways competition and innovations level the playing field in the free market The Economics of Competition uses the South African pharmaceutical industry as a case study to cogently challenge accepted economic and regulatory views on competition and monopoly, then re-establishes and emphasizes the importance of foundational economic principles. The book comprehensively explores the concept that monopoly is self-limiting within unrestricted competition, as well as the various market features of competition, innovation, and market power. This detailed examination broadens understanding of the economics of competition for both scholars and practitioners. Competition is seen as a continuous process in a free market. The Economics of Competition thoughtfully explores the competitive process in its two mechanisms, the transfer of market share from one rival to another, and innovation of a new product, new method of production, new market opening, or new source of supply of raw materials. The dynamic nature of the marketplace is thoroughly examined from the author's inside view of the South African pharmaceutical industry. This provides a rare opportunity to closely examine an industry considered to be a monopoly while actively applying economic theories of competition and freedom of choice. The effects of public policy, legislation, and pricing regulations are discussed in detail. The book has several tables and figures to enhance clarity and is extensively referenced. The Economics of Competition discusses: * monopoly and rivalry in the free market * theories of perfect competition * innovation as a controlling variable * pricing and price differentiation * barriers to competition—including historical and contemporary legislative barriers * horizontal mergers and acquisitions as a key aspect of market power * and more! The Economics of Competition is insightful, thought-provoking reading for policymakers as well as anyone practising antitrust law, microeconomics, industrial economics, managerial economics, marketing strategy, theoretical public health, and students and educators of marketing and economics.

Author : Melvin L. Greenhut,George Norman,Chao-Shun Hung
Publisher : Cambridge University Press
Page : 432 pages
File Size : 41,8 Mb
Release : 1987-01-30
Category : Business & Economics
ISBN : 0521315646

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The Economics of Imperfect Competition by Melvin L. Greenhut,George Norman,Chao-Shun Hung Pdf

This new approach to traditional price theory and to the analysis of imperfect competition represents a breakthrough in the development of a "new" microeconomic theory. Addresses issues in price theory, industrial organization, international trade and regional urban economics.

Author : Richard J. Gilbert
Publisher : MIT Press
Page : 337 pages
File Size : 46,7 Mb
Release : 2022-06-07
Category : Business & Economics
ISBN : 9780262545792

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Innovation Matters by Richard J. Gilbert Pdf

A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and evidence on economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather than innovation. Economic theory shows the ways that price competition benefits consumers, and courts, antitrust agencies, and economists have developed tools for the quantitative evaluation of price impacts. Antitrust law does not preclude interventions to encourage innovation, but over time the interpretation of the laws has raised obstacles to enforcement policies for innovation. In this book, economist Richard Gilbert proposes a shift from price-centric to innovation-centric competition policy. Antitrust enforcement should be concerned with protecting incentives for innovation and preserving opportunities for dynamic, rather than static, competition. In a high-technology economy, Gilbert argues, innovation matters. Gilbert considers both theory and available empirical evidence on the relationships among market structure, firm behavior, and the production of new products and services. He reviews the distinctive features of the high-tech economy and why current analytical tools used by antitrust enforcers aren't up to the task of assessing innovation concerns. He considers, from the perspective of innovation competition, Kenneth Arrow's “replacement effect” and the Schumpeterian theory of market power and appropriation; discusses the effect of mergers on innovation and future price competition; and reviews the empirical literature on competition, mergers, and innovation. He describes examples of merger enforcement by US and European antitrust agencies; examines cases brought against Microsoft and Google; and discusses the risks and benefits of interoperability standards. Finally, he offers recommendations for competition policy. The open access edition of this book was made possible by generous funding from Arcadia – a charitable fund of Lisbet Rausing and Peter Baldwin.

Author : Frank Machovec
Publisher : Routledge
Page : 404 pages
File Size : 52,5 Mb
Release : 1995-05-04
Category : Business & Economics
ISBN : 9781134820238

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Perfect Competition and the Transformation of Economics by Frank Machovec Pdf

Frank Machovec argues that the assumption of perfect information has done untold economic damage. It has provided the rationale for active state intervention and has obscured the extent to which entrepreneurial activity depends upon the exploitation of asymmetric information.

Author : Philippe Aghion,Rachel Griffith
Publisher : MIT Press
Page : 115 pages
File Size : 48,7 Mb
Release : 2008-01-25
Category : Business & Economics
ISBN : 9780262512022

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Competition and Growth by Philippe Aghion,Rachel Griffith Pdf

Though competition occupies a prominent place in the history of economic thought, among economists today there is still a limited, and sometimes contradictory, understanding of its impact. In Competition and Growth, Philippe Aghion and Rachel Griffith offer the first serious attempt to provide a unified and coherent account of the effect competition policy and deregulated entry has on economic growth. The book takes the form of a dialogue between an applied theorist calling on "Schumpeterian growth" models and a microeconometrician employing new techniques to gauge competition and entry. In each chapter, theoretical models are systematically confronted with empirical data, which either invalidates the models or suggests changes in the modeling strategy. Aghion and Griffith note a fundamental divorce between theorists and empiricists who previously worked on these questions. On one hand, existing models in industrial organization or new growth economics all predict a negative effect of competition on innovation and growth: namely, that competition is bad for growth because it reduces the monopoly rents that reward successful innovators. On the other hand, common wisdom and recent empirical studies point to a positive effect of competition on productivity growth. To reconcile theory and evidence, the authors distinguish between pre- and post-innovation rents, and propose that innovation may be a way to escape competition, an idea that they confront with microeconomic data. The book's detailed analysis should aid scholars and policy makers in understanding how the benefits of tougher competition can be achieved while at the same time mitigating the negative effects competition and imitation may have on some sectors or industries.