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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.
In many economic sectors - the digital industries being first and
foremost - the market power of dominant firms has been steadily
increasing and is rarely challenged by competitors. Existing
competition laws and regulations have been unable to make markets
more contestable. The book argues that a new competition tool is
needed: market investigations. This tool allows authorities to
intervene in markets which do not function as they should, due to
market features such as network effects, scale economies, switching
costs, and behavioural biases. The book explains the role of market
investigations, assesses their use in the few jurisdictions where
they exist, and discusses how they should be designed. In so doing,
it provides an invaluable and timely instrument to both
practitioners and academics.
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.
Thoroughly revised according to classroom feedback, Industrial
Organization: Markets and Strategies offers an up-to-date and
rigorous presentation of modern industrial organization that blends
theory with real-world applications and derives implications for
firm strategy and competition policy. This comprehensive textbook
acquaints readers with the most important models for understanding
strategies chosen by firms with market power and shows how such
firms adapt to different market environments. The second edition
includes new and revised formal models and case studies. Formal
models are presented in detail, and analyses are summarized in
'lessons' which highlight the main insights. Theories are
complemented by numerous real-world cases that engage students and
lead them to connect theories to real situations. Chapters include
review questions, exercises, and suggestions for further reading to
enhance the learning experience, and an accompanying website offers
additional student exercises, as well as teaching slides.
Thoroughly revised according to classroom feedback, Industrial
Organization: Markets and Strategies offers an up-to-date and
rigorous presentation of modern industrial organization that blends
theory with real-world applications and derives implications for
firm strategy and competition policy. This comprehensive textbook
acquaints readers with the most important models for understanding
strategies chosen by firms with market power and shows how such
firms adapt to different market environments. The second edition
includes new and revised formal models and case studies. Formal
models are presented in detail, and analyses are summarized in
'lessons' which highlight the main insights. Theories are
complemented by numerous real-world cases that engage students and
lead them to connect theories to real situations. Chapters include
review questions, exercises, and suggestions for further reading to
enhance the learning experience, and an accompanying website offers
additional student exercises, as well as teaching slides.
This book analyses telecommunications markets from early to mature
competition, filling the gap between the existing economic
literature on competition and the real-life application of theory
to policy. Paul De Bijl and Martin Peitz focus on both the
transitory and the persistent asymmetries between telephone
companies, investigating the extent to which access price and
retail price regulation stimulate both short- and long-term
competition. They explore and compare various settings, such as
non-linear versus linear pricing, facilities-based versus
unbundling-based or carrier-select-based competition, non-segmented
versus segmented markets. On the basis of their analysis, De Bijl
and Peitz then formulate guidelines for policy. This book is a
valuable resource for academics, regulators and telecommunications
professionals. It is accompanied by simulation programs devised by
the authors both to establish and to illustrate their results.
This book examines competition and regulation in the liberalized telecommunications markets. It fills the gap between the existing economic literature on competition and the real-life application of theory to policy. Paul de Bijl and Martin Peitz analyze a broad range of market constellations; in particular, the hot topic of access price regulation in asymmetric markets. The study is a valuable resource for academics, regulators and telecommunications professionals. It is accompanied by extensive simulation programs.
This volume contains a selection of papers that were presented at
the CRESSE Conferences held in Chania, Crete, from July 6th to 8th,
2012, and in Corfu from July 5th to 7th, 2013. The chapters address
current policy issues in competition and regulation. The book
contains contributions at the frontier of competition economics and
regulation and provides perspectives on recent research findings in
the field. Written by experts in their respective fields, the book
brings together current thinking on market forces at play in
imperfectly competitive industries, how firms use anti-competitive
practices to their advantage and how competition policy and
regulation can address market failures. It provides an in-depth
analysis of various ongoing debates and offers fresh insights in
terms of conceptual understanding, empirical findings and policy
implications. The book contributes to our understanding of
imperfectly competitive markets, anti-competitive practices and
competition policy and regulation.
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