This 2000 text applies modern advances in game theory to the
analysis of competition policy and develops some of the theoretical
and policy concerns associated with the pioneering work of Louis
Phlips. Containing contributions by leading scholars from Europe
and North America, this book observes a common theme in the
relationship between the regulatory regime and market structure.
Since the inception of the new industrial organization, economists
have developed a better understanding of how real-world markets
operate. These results have particular relevance to the design and
application of anti-trust policy. Analyses indicate that picking
the most competitive framework in the short run may be detrimental
to competition and welfare in the long run, concentrating the
attention of policy makers on the impact on the long-run market
structure. This book provides essential reading for graduate
students of industrial and managerial economics as well as
researchers and policy makers.
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