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Some Economic Aspects of Antitrust Analysis in Dynamically Competitive Industries

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Author Info
David S. Evans
Richard Schmalensee

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Abstract

Competition in many important industries centers on investment in intellectual property. Firms engage in dynamic, Schumpeterian competition for the market, through sequential winner-take-all races to produce drastic innovations, rather than through static price/output competition in the market. Sound antitrust economic analysis of such industries requires explicit consideration of dynamic competition. Most leading firms in these dynamically competitive industries have considerable short-run market power, for instance, but ignoring their vulnerability to drastic innovation may yield misleading conclusions. Similarly, conventional tests for predation cannot discriminate between practices that increase or decrease consumer welfare in winner-take-all industries. Finally, innovation in dynamically competitive industries often involves enhancing feature sets; there is no sound economic basis for treating such enhancements as per se illegal ties.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8268.

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Date of creation: May 2001
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Handle: RePEc:nbr:nberwo:8268

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L4 - Industrial Organization - - Antitrust Issues and Policies

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  1. C. Mantzavinos, 2006. "The institutional-evolutionary antitrust model," European Journal of Law and Economics, Springer, vol. 22(3), pages 273-291, November. [Downloadable!] (restricted)
  2. Robert Hunt, 2003. "Antitrust issues in payment card networks: can they do that? should we let them?," Business Review, Federal Reserve Bank of Philadelphia, issue Q2, pages 14-23. [Downloadable!]
  3. Gerard Llobet & Michael Manove, 2006. "Network Size and Network Capture," Boston University - Department of Economics - Working Papers Series WP2006-007, Boston University - Department of Economics. [Downloadable!]
    Other versions:
  4. Vaaler, Paul M. & McNamara, Gerry, 2006. "Are Technology-Intensive Industries More Dynamically Competitive? No and Yes," Working Papers 06-0124, University of Illinois at Urbana-Champaign, College of Business. [Downloadable!]
  5. Keith N. Hylton & Haizhen Lin, 2008. "Innovation and Optimal Punishment, with Antitrust Applications," Working Papers 2008-09, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy. [Downloadable!]
  6. Robert M. Hunt, 2003. "An Introduction to the Economics of Payment Card Networks," Review of Network Economics, Concept Economics, vol. 2(2), pages 80-96, June. [Downloadable!]
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  7. Lewis Evans and Patrick Hughes, 2003. "Competition Policy in Small Distant Open Economies: Some Lessons from the Economics Literature," Treasury Working Paper Series 03/31, New Zealand Treasury. [Downloadable!]
  8. Gual, Jordi, 2003. "Market Definition in the Telecoms Industry," CEPR Discussion Papers 3988, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  9. Christophe Boucher, 2003. "“Winners take all competition”, creative destruction and stock market bubble," Finance 0305010, EconWPA. [Downloadable!]
  10. Gual, Jordi, 2003. "Market definition in the telecoms industry," IESE Research Papers D/517, IESE Business School. [Downloadable!]
  11. Steven J. Davis & Jack MacCrisken & Kevin M. Murphy, 2001. "Economic Perspectives on Software Design: PC Operating Systems and Platforms," NBER Working Papers 8411, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. David S. Evans & Andrei Hagiu & Richard Schmalensee, 2004. "A Survey of the Economic Role of Software Platforms in Computer-Based Industries," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  13. Ilya Segal & Michael Whinston, 2005. "Antitrust in Innovative Industries," NBER Working Papers 11525, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  14. Joao Macieira, 2007. "Extending the Frontier: A Structural Model of Investment and Technological Competition in the Supercomputer Industry," Working Papers e07-10, Virginia Polytechnic Institute and State University, Department of Economics. [Downloadable!]
  15. Peter Møllgaard & Jo Lorentzen, 2005. "Competition Policy and Innovation," CIE Discussion Papers 2005-12, University of Copenhagen. Department of Economics. Centre for Industrial Economics. [Downloadable!]
  16. Cerquera Dussán, Daniel, 2006. "Dynamic R&D incentives with network externalities," ZEW Discussion Papers 06-94, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  17. Dennis W. Carlton & Robert H. Gertner, 2002. "Intellectual Property, Antitrust and Strategic Behavior," NBER Working Papers 8976, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  18. Møllgaard, Peter & Lorentzen, Jo, 2006. "Competition Policy and Innovation," Working Papers 09-2005, Copenhagen Business School, Department of Economics. [Downloadable!]
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