Competition, Innovation, and Antitrust: A Theory of Market Leaders and Its Policy Implications

Overview

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.

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Paperback (Softcover reprint of hardcover 1st ed. 2007)
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Overview

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.

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Editorial Reviews

From the Publisher
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." (Krešimir Žigic, 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)

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Product Details

  • ISBN-13: 9783642080524
  • Publisher: Springer Berlin Heidelberg
  • Publication date: 11/10/2010
  • Edition description: Softcover reprint of hardcover 1st ed. 2007
  • Edition number: 1
  • Pages: 284
  • Product dimensions: 0.64 (w) x 9.21 (h) x 6.14 (d)

Table of Contents

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.

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