Download or read book Market Definition and Market Power in Payment Card Networks written by Eric Emch and published by . This book was released on 2006 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Market Power Handbook written by American Bar Association. Section of Antitrust Law and published by American Bar Association. This book was released on 2005 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Have you ever wondered what a therapist really thinks? Have you ever wondered if a therapist truly cares about her patients? Have you tried to imagine the unimaginable, the loss of the person most dear to you? Is it true that `tis better to have loved and lost, than never to have loved at all? ` Love and loss are a ubiquitous part of life, bringing the greatest joys and the greatest heartaches. In one way or another all relationships end. People leave, move on, die. Loss is an ever-present part of life. In Love and Loss, Linda B. Sherby illustrates that in order to grow and thrive, we must learn to mourn, to move beyond the person we have lost while taking that person with us in our minds. Love, unlike loss, is not inevitable but, she argues, no satisfying life can be lived without deeply meaningful relationships. The focus of Love and Loss is how patients' and therapists' independent experiences of love and loss, as well as the love and loss that they experience in the treatment room, intermingle and interact. There are always two people in the consulting room, both of whom are involved in their own respective lives, as well as the mutually responsive relationship that exists between them. Love and loss in the life of one of the parties affects the other, whether that affect takes place on a conscious or unconscious level. Love and Loss is unique in two respects.The first is its focus on the analyst's current life situation and how that necessarily affects both the patient and the treatment. The second is Sherby's willingness to share the personal memoir of her own loss which she has interwoven with extensive clinical material to clearly illustrate the effect the analyst's current life circumstance has on the treatment. Writing as both a psychoanalyst and a widow, Linda B. Sherby makes it possible for the reader to gain an inside view of the emotional experience of being an analyst, making this book of interest to a wide audience. Professionals from psychoanalysts and psychotherapists and bereavement specialists through students in all the mental health fields to the public in general, will resonate and learn from this heartfelt and straightforward book.
Download or read book In Defense of Monopoly written by Richard B. McKenzie and published by University of Michigan Press. This book was released on 2019-02-28 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.
Download or read book The Economics of Imperfect Competition written by Joan Robinson and published by Springer. This book was released on 1969-07-01 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Market definition and market power in the platform economy written by Jens-Uwe Franck and published by Centre on Regulation in Europe asbl (CERRE). This book was released on 2019-05-08 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the rise of digital platforms and the natural tendency of markets involving platforms to become concentrated, competition authorities and courts are more frequently in a position to investigate and decide merger and abuse cases that involve platforms. This report provides guidance on how to define markets and on how to assess market power when dealing with two-sided platforms. DEFINITION Competition authorities and courts are well advised to uniformly use a multi-markets approach when defining markets in the context of two-sided platforms. The multi-markets approach is the more flexible instrument compared to the competing single-market approach that defines a single market for both sides of a platform, as the former naturally accounts for different substitution possibilities by the user groups on the two sides of the platform. While one might think of conditions under which a single-market approach could be feasible, the necessary conditions are so severe that it would only be applicable under rare circumstances. To fully appreciate business activities in platform markets from a competition law point of view, and to do justice to competition law’s purpose, which is to protect consumer welfare, the legal concept of a “market” should not be interpreted as requiring a price to be paid by one party to the other. It is not sufficient to consider the activities on the “unpaid side” of the platform only indirectly by way of including them in the competition law analysis of the “paid side” of the platform. Such an approach would exclude certain activities and ensuing positive or negative effects on consumer welfare altogether from the radar of competition law. Instead, competition practice should recognize straightforwardly that there can be “markets” for products offered free of charge, i.e. without monetary consideration by those who receive the product. ASSESSMENT The application of competition law often requires an assessment of market power. Using market shares as indicators of market power, in addition to all the difficulties in standard markets, raises further issues for two-sided platforms. When calculating revenue shares, the only reasonable option is to use the sum of revenues on all sides of the platform. Then, such shares should not be interpreted as market shares as they are aggregated over two interdependent markets. Large revenue shares appear to be a meaningful indicator of market power if all undertakings under consideration serve the same sides. However, they are often not meaningful if undertakings active in the relevant markets follow different business models. Given potentially strong cross-group external effects, market shares are less apt in the context of two-sided platforms to indicate market power (or the lack of it). Barriers to entry are at the core of persistent market power and, thus, the entrenchment of incumbent platforms. They deserve careful examination by competition authorities. Barriers to entry may arise due to users’ coordination failure in the presence of network effect. On two-sided platforms, users on both sides of the market have to coordinate their expectations. Barriers to entry are more likely to be present if an industry does not attract new users and if it does not undergo major technological change. Switching costs and network effects may go hand in hand: consumer switching costs sometimes depend on the number of platform users and, in this case, barriers to entry from consumer switching costs increase with platform size. Since market power is related to barriers to entry, the absence of entry attempts may be seen as an indication of market power. However, entry threats may arise from firms offering quite different services, as long as they provide a new home for users’ attention and needs.
Download or read book Market Definition Market Power written by Louis Kaplow and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Market definition and market power are central features of competition law and practice but pose serious challenges. On one hand, market definition suffers decisive logical infirmities that render it infeasible, unnecessary, and counterproductive, and the practice of stating market power requirements as market share threshold tests is incoherent as a matter of empirics and policy. On the other hand, market power is often probative of the desirability of liability, yet the typically assumed functional relationship is unexplored and often implausible. These latter deficiencies are addressed through a ground-up analysis of the channels by which market power can be relevant. It is important to explicitly and simultaneously consider both anticompetitive and procompetitive explanations for challenged practices and to attend to the magnitudes of the social consequences of correct and mistaken imposition of liability in order to identify the various ways and senses in which market power bears on optimal decision-making.
Download or read book EC Competition Law written by Giorgio Monti and published by Cambridge University Press. This book was released on 2007-08-06 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monti explores the development of EC competition law through an interdisciplinary approach, focusing on the political and economic considerations that affect the way the rules are interpreted. Written with competition law students in mind, it should also be of interest to undergraduate and postgraduate students of EU politics and economics.
Download or read book Lectures on Antitrust Economics written by Michael Dennis Whinston and published by . This book was released on 2006 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Antitrust law regulates economic activity but differs in its operation from what is traditionally considered "regulation." Where regulation is often industry-specific and involves the direct setting of prices, product characteristics, or entry, antitrust law focuses more broadly on maintaining certain basic rules of competition. In these lectures Michael Whinston offers an accessible and lucid account of the economics behind antitrust law, looking at some of the most recent developments in antitrust economics and highlighting areas that require further research. He focuses on three areas: price fixing, in which competitors agree to restrict output or raise price; horizontal mergers, in which competitors agree to merge their operations; and exclusionary vertical contracts, in which a competitor seeks to exclude a rival. Antitrust commentators widely regard the prohibition on price fixing as the most settled and economically sound area of antitrust. Whinston's discussion seeks to unsettle this view, suggesting that some fundamental issues in this area are, in fact, not well understood. In his discussion of horizontal mergers, Whinston describes the substantial advances in recent theoretical and empirical work and suggests fruitful directions for further research. The complex area of exclusionary vertical contracts is perhaps the most controversial in antitrust. The influential "Chicago School" cast doubt on arguments that vertical contracts could be profitably used to exclude rivals. Recent theoretical work, to which Whinston has made important contributions, instead shows that such contracts can be profitable tools for exclusion. Whinston's discussion sheds light on the controversy in this area and the nature of those recent theoretical contributions. Sponsored by the Universidad Torcuato Di Tella
Download or read book The Economic Assessment of Mergers Under European Competition Law written by Daniel Gore and published by Cambridge University Press. This book was released on 2013-04-25 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a clear, concise and practical overview of the key economic techniques and evidence employed in European merger control.
Download or read book Competition Policy written by Massimo Motta and published by Cambridge University Press. This book was released on 2004-01-12 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to provide a systematic treatment of the economics of antitrust (or competition policy) in a global context. It draws on the literature of industrial organisation and on original analyses to deal with such important issues as cartels, joint-ventures, mergers, vertical contracts, predatory pricing, exclusionary practices, and price discrimination, and to formulate policy implications on these issues. The interaction between theory and practice is one of the main features of the book, which contains frequent references to competition policy cases and a few fully developed case studies. The treatment is written to appeal to practitioners and students, to lawyers and economists. It is not only a textbook in economics for first year graduate or advanced undergraduate courses, but also a book for all those who wish to understand competition issues in a clear and rigorous way. Exercises and some solved problems are provided.
Download or read book Market Definition in Antitrust written by and published by American Bar Association. This book was released on 2012 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Oxford Handbook of Productivity Analysis written by Emili Grifell-Tatjé and published by Oxford University Press. This book was released on 2018-08-07 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productivity underpins business success and national well-being and thus it is crucial to understand the factors that influence productivity growth. This volume provides a comprehensive exploration into the significance of productivity growth for business, the economy, and for social economic progress. It examines how productivity is defined, measured and implemented. It also surveys the dispersion of productivity across time and place, focusing on the productivity dynamics that either leads to a reallocation of resources that reduces dispersion and increases aggregate productivity or, conversely, allows dispersion to persist behind barriers to productivity-enhancing reallocation. A third focus is an investigation of the drivers of, or impediments to, productivity growth, some of which are organizational in nature and under management control and others of which are institutional in nature and subject to public policy intervention. The Oxford Handbook of Productivity Analysis contains contributions of distinguished productivity experts from around the world who analyze a wide range of timely issues. These issues concern purely analytical topics surrounding the measurement of productivity in various situations, beginning with the ideal situation in which all inputs and all outputs, and their prices, are observed accurately. They also include service sectors such as education in which the services provided are hard to define, much less measure, and other sectors that generate undesirable environmental externalities that are difficult to price and complicate the very definition of productivity. The issues also involve business management topics ranging from the role of business models and benchmarking to the quality of management practices, the adoption of new technologies, and possible complementarities between the two. The relationship between productivity and business performance is also explored. At a more aggregate level the issues range from the impacts of market power, incentive regulation, international trade and global value chains on productivity, to the contribution of productivity to economic development and economic welfare.
Download or read book Monopoly Power and Competition written by Manuela Mosca and published by Edward Elgar Publishing. This book was released on 2018-07-27 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The innovative contributions of the Italian Marginalists - Pareto, Pantaleoni, De Viti de Marco and Barone, to economic theory have previously been overlooked. This is the first book to deal with the history of the theory of market power and of its relation with competition, focusing on the distinct intellectual tradition that is Italian Marginalist economic thought. Monopoly Power and Competition is a vital resource for historians of economic thought, as it explores a relatively untouched area of microeconomics that sheds light on the theories surrounding monopoly power and barriers to entry.
Download or read book Competitive Electricity Markets written by Fereidoon Sioshansi and published by Elsevier. This book was released on 2011-10-10 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms. Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change. Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006 Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues Covers timely topics on the evolution of electricity market liberalization worldwide
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book An Introduction to EU Competition Law written by Moritz Lorenz and published by Cambridge University Press. This book was released on 2013-04-25 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Succinct and concise, covering all key substantive and procedural aspects of the subject, this textbook is required reading for students of EU competition law. The author's clarity of expression and wealth of worked examples, makes this sometimes complex subject accessible. This refreshing uncluttered approach guarantees the students' understanding and engagement.
Download or read book Power System Economics written by Steven Stoft and published by Wiley-IEEE Press. This book was released on 2002-05-28 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first systematic presentation of electricity market design-from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues-such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes a provocative look at the operation of pools and power exchanges. * Part 1 introduces key economic, engineering and market design concepts. * Part 2 links short-run reliability policies with long-run investment problems. * Part 3 examines classic designs for day-ahead and real-time markets. * Part 4 covers market power, and * Part 5 covers locational pricing, transmission right and pricing losses. The non-technical introductions to all chapters allow easy access to the most difficult topics. Steering an independent course between ideological extremes, it provides background material for engineers, economists, regulators and lawyers alike. With nearly 250 figures, tables, side bars, and concisely-stated results and fallacies, the 44 chapters cover such essential topics as auctions, fixed-cost recovery from marginal cost, pricing fallacies, real and reactive power flows, Cournot competition, installed capacity markets, HHIs, the Lerner index and price caps. About the Author Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a background in physics, math, engineering, and astronomy. He spent a year inside FERC and now consults for PJM, California and private generators. Learn more at www.stoft.com.
