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Author: Daniel F. Spulber
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Network effects occur in markets when consumers receive mutual benefits from consuming the same good. Markets with network effects that have generated particular policy concerns include the information and communications technology and electronics (ICTE) industries. Many economists and legal scholars argue that the presence of network effects creates a form of market failure known as network externalities and recommend new forms of antitrust and regulation targeted at particular firms in the ICTE industries. The debate over network effects is likely to have major consequences for these industries, with effects comparable to landmark antitrust cases involving IBM, ATamp;T, and Microsoft. This article provides a comprehensive examination of network effects that addresses the legal, economic, and technological basis for this phenomenon. The article develops a general framework for examining consumer coordination in markets with network effects. The discussion demonstrates that consumers can coordinate their consumption decisions to obtain the benefits of network effects. When there are small numbers of consumers, as Coase argued, low transaction costs allow the formation of informal agreements and formal contracts that are economically efficient. When there are large numbers of consumers, the market offers many mechanisms of spontaneous order in the sense of Hayek. The article refers to Coasian negotiation as coordination in the small, and to Hayekian spontaneous order as coordination in the large. The discussion demonstrates that consumer coordination, both in the small and in the large, results in efficient consumption of network goods and adoption of new technologies. Market institutions are fully capable of addressing network effects. Antitrust policy based on correcting market failure due to network externalities is likely to impact both competition and innovation adversely. Network effects do not provide a sound basis for antitrust policy.
Author: Daniel F. Spulber
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Network effects occur in markets when consumers receive mutual benefits from consuming the same good. Markets with network effects that have generated particular policy concerns include the information and communications technology and electronics (ICTE) industries. Many economists and legal scholars argue that the presence of network effects creates a form of market failure known as network externalities and recommend new forms of antitrust and regulation targeted at particular firms in the ICTE industries. The debate over network effects is likely to have major consequences for these industries, with effects comparable to landmark antitrust cases involving IBM, ATamp;T, and Microsoft. This article provides a comprehensive examination of network effects that addresses the legal, economic, and technological basis for this phenomenon. The article develops a general framework for examining consumer coordination in markets with network effects. The discussion demonstrates that consumers can coordinate their consumption decisions to obtain the benefits of network effects. When there are small numbers of consumers, as Coase argued, low transaction costs allow the formation of informal agreements and formal contracts that are economically efficient. When there are large numbers of consumers, the market offers many mechanisms of spontaneous order in the sense of Hayek. The article refers to Coasian negotiation as coordination in the small, and to Hayekian spontaneous order as coordination in the large. The discussion demonstrates that consumer coordination, both in the small and in the large, results in efficient consumption of network goods and adoption of new technologies. Market institutions are fully capable of addressing network effects. Antitrust policy based on correcting market failure due to network externalities is likely to impact both competition and innovation adversely. Network effects do not provide a sound basis for antitrust policy.
Author:
Publisher: Elsevier
ISBN: 0323915140
Category : Business & Economics
Languages : en
Pages : 788
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Book Description
Handbook of Industrial Organization, Volume Four highlights new advances in the field, with this new volume presenting interesting chapters written by an international board of expert authors. Presents authoritative surveys and reviews of advances in theory and econometrics Reviews recent research on capital raising methods and institutions Includes discussions on developing countries
Author: Ioannis E. Anagnostopoulos
Publisher: Springer
ISBN: 3642289770
Category : Technology & Engineering
Languages : en
Pages : 383
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Book Description
Nowadays, more and more users are witnessing the impact of Hypermedia/Multimedia as well as the penetration of social applications in their life. Parallel to the evolution of the Internet and Web, several Hypermedia/Multimedia schemes and technologies bring semantic-based intelligent, personalized and adaptive services to the end users. More and more techniques are applied in media systems in order to be user/group-centric, adapting to different content and context features of a single or a community user. In respect to all the above, researchers need to explore and study the plethora of challenges that emergent personalisation and adaptation technologies bring to the new era. This edited volume aims to increase the awareness of researchers in this area. All contributions provide an in-depth investigation on research and deployment issues, regarding already introduced schemes and applications in Semantic Hyper/Multimedia and Social Media Adaptation. Moreover, the authors provide survey-based articles, so as potential readers can use it for catching up the recent trends and applications in respect to the relevant literature. Finally, the authors discuss and present their approach in the respective field or problem addressed.
Author: Christina Bohannan
Publisher: Oxford University Press
ISBN: 0199738831
Category : Law
Languages : en
Pages : 435
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Book Description
This title analyzes the current state of competition (antitrust) and intellectual property laws, and proposes realistic reforms that will encourage innovation.
Author: Ariel Dinar
Publisher: Routledge
ISBN: 1135976104
Category : Business & Economics
Languages : en
Pages : 366
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Book Description
This book includes chapters by experts from developing and developed countries that apply game theory to issues in natural resources and the environment, demonstrating the usefulness of game theory in policy-making and appealing to a wide audience.
Author: Camille Passler Schuster
Publisher: Routledge
ISBN: 9780789015693
Category : Business & Economics
Languages : en
Pages : 169
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Book Description
"The customer is the only one who can fire all of us." -Sam Walton Doing business in today's economy and surviving requires a new paradigm. Who are at the center of this new approach to doing business? CONSUMERS. Historically, power struggles have raged between suppliers and distributors. Recently, both parties awakened to the fact that neither of them has the ultimate power . . . it now resides solely with the consumer. This valuable book describes what demassification of the consumer market means and will show you how--and why--businesses must adapt to succeed. Handy charts, tables, and illustrations make the information easy to understand, and fascinating sidebar quotations from well-known leaders of various industries--Sam Walton, Jack Welch, and many more--give the book a unique and memorable flavor. "Consumers," say the authors, "not only demand higher quality and lower prices, but also expect convenient, quick, customized service. They expect in-stock conditions and quality. They demand value and respect. Global markets mean large numbers of consumers, but these consumers want to be treated as individuals, and the mass market no longer exists. Companies in industries from financial services to groceries to consumer goods to health care to hardware to automobiles are adopting these new business processes and winning in the marketplace. Their competitors are falling by the wayside." This essential book: examines the factors that are shaping the current business environment and looks at the re-orientation of today's consumer, presenting global perspectives on these vital issues explores this new consumer-centric approach from the perspectives of suppliers, intermediaries, and retailers, as well as the business processes being used to create more efficient supply chains and more effective demand fulfillment processes shows you the tools that can be used to implement this new business paradigm in the areas of technology, internal business processes, and collaboration answers frequently asked questions shares the success stories of Rite Aid, Southwest Airlines, Starbucks, Snap-On Tools, National Semiconductor, and others! After addressing the issues of why business must change and examining the significance of a global business environment, The Consumer . . . or Else! addresses each element of the new business paradigm: the new role of consumers major players, including the shift in the business processes of retailers and manufacturers and the role of intermediaries new business processes, with a focus on technology, internal coordination, and collaboration Companies from Dell Computer to Del Monte are putting consumers first and reaping the sales benefits. General Mills will soon provide consumers with the opportunity to create and name their own custom cereal. As the authors point out, "The business process is changing-changing the way product flows, the way information flows, and the way cash flows. Companies that recognize this need to change will hold huge competitive advantages, and the companies that fail to adapt will simply not be here in the future." Let The Consumer . . . or Else!: Consumer-Centric Business Paradigms be your guidebook to this challenging new business climate.
Author: Robert Bork
Publisher:
ISBN: 9781736089712
Category :
Languages : en
Pages : 536
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Book Description
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Author: United States. Congress. Senate. Subcommittee on Reorganization and Internationsl Organization of the Government Operations Comm
Publisher:
ISBN:
Category :
Languages : en
Pages : 152
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Book Description
Author: United States. Congress. Senate. Committee on Government Operations. Subcommittee on Intergovernmental Relations
Publisher:
ISBN:
Category : Administrative agencies
Languages : en
Pages : 1856
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Book Description
Considers S. 607 and companion H.R. 4866, to amend the Federal Property and Administrative Services Act to establish a U.S. Office of Utility Consumers' Counsel, an independent agency representing Federal and consumer interests before Federal and state public utility authorities.
Author: United States. Congress. Senate. Special Committee on Aging. Subcommittee on Consumer Interests of the Elderly
Publisher:
ISBN:
Category : Consumer protection
Languages : en
Pages : 350
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Book Description
