Market Structure and Competition Policy: Game-Theoretic Approaches

Description

Market Structure and Competition Policy 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 organisation, 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.

George Norman is the holder of the Cummings Family Chair in Entrepreneurship and Business Economics at Tufts University and is the Director of the Graduate Program in Economics. His publications include Economies of Scale, Transport Costs, and Location, The Economics of Imperfect Competition: a spatial approach, and Industrial Organization: Contemporary Theory and Practice (with D. Richards and L. Pepall). Jacque-Francois Thisse is Professor of Economics in the Center for Operations Research and Econometrics at the Universite Catholique de Louvain. He is the author of Does Economic Space Matter? and Discrete Choice Theory of Product Differentiation.