Innovation Matters - Competition Policy for the High-Technology Economy

A proposal for moving from 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 ; 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....

Product details

• Authors: Richard J Gilbert, Richard J. Gilbert, Gilbert Richard J.
• Publisher: External catalogues_US
• Languages: English
• Product format: Paperback / Softback
• Released: 07.06.2022
• EAN: 9780262545792
• ISBN: 978-0-262-54579-2
• No. of pages: 336
• Dimensions: 150 mm x 230 mm x 15 mm
• Subjects: Social sciences, law, business > Business > Miscellaneous; BUSINESS & ECONOMICS / Industries / General, BUSINESS & ECONOMICS / Management, SCIENCE / Philosophy & Social Aspects, TECHNOLOGY & ENGINEERING / Social Aspects, LAW / Antitrust, Management & management techniques, Impact of science & technology on society, Impact of science and technology on society, Industry & industrial studies, Management and management techniques, SOCIAL SCIENCE / Technology Studies, Industry and industrial studies, Competition law / Antitrust law