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Market Dominance: How Firms Gain, Hold, or Lose It and the Impact on Economic Performance

Autor David Rosenbaum
en Limba Engleză Hardback – 25 mai 1998 – vârsta până la 17 ani
Economic theorizing suggests that firms can acquire and maintain market dominance in a number of ways. Some economists argue that firms attain dominance only by being relatively more efficient than their rivals and retain leadership only by staying more efficient than their rivals. Others argue that efficiency is not the only source of dominance and that leaders can retain preeminence even if they are inefficient. This book attempts to sort out the relevant points by exploring market dominance experienced by firms in ten different industries. It examines factors that led to acquiring, holding and in some cases losing dominance and asks whether those factors were consistent with economic efficiency.The results suggest that both schools make valid points. Generally, firms that rose to dominance were market pioneers and did so using economically-efficient strategies. In some cases, however, firms rose to dominance using inefficient strategies. Once they reached their ascendance, these firms engaged in a number of strategies, some efficient, others inefficient, to maintain their dominant positions. Most of the firms examined eventually lost their dominance. In some cases, the market evolved too rapidly for any firm to maintain control. In other cases the fall was ushered along by federal antitrust and trade policy. In still other industries, it was due either to poor management or the firm becoming inefficient. However, even when some of these dominant firms became inefficient, the market system worked only very slowly to remove them. The analysis has specific implications for antitrust policies toward dominant firms. Because the sources and consequences of dominance can be varied, neither a ^Ilaissez faire^R policy in favor nor a ^Iper se^R injunction against dominance is called for. A reasoned approach, tempered by underlying market conditions, is warranted toward the strategies used to acquire and maintain dominance.
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Specificații

ISBN-13: 9780275956042
ISBN-10: 0275956040
Pagini: 280
Dimensiuni: 156 x 235 x 26 mm
Greutate: 0.61 kg
Ediția:New.
Editura: Bloomsbury Publishing
Colecția Praeger
Locul publicării:New York, United States

Notă biografică

DAVID I. ROSENBAUM is Professor of Economics at the University of Nebraska-Lincoln. He is the author of numerous articles on industrial organization, market evolution, and strategic competition.

Cuprins

Introduction by David I. RosenbaumThe Standard Oil Trust by Leslie D. MannsTobacco: Predation and Persistent Market Power by Walter Adams and James W. BrockAlcoa and the U.S. Aluminum Industry by Hayley Chouinard and David I. RosenbaumDow Chemical and the Magnesium Industry by Marvin B. LiebermanEastman Film Industry: Picture Imperfect? by Vrinda KadiyaliThe Rise and Fall of Dominant Firms in the U.S. Automobile Industry: A Tale Twice Told by Lawrence J. WhiteThe Rise and Fall of IBM by Donald E. WaldmanMicrosoft by Rochelle Ruffer and Donald E. WaldmanBlue Cross: Health Insurance by Erwin A. Blackstone and Joseph P. FuhrAT&T's Grand Design for Dominance in the Global Information Age by Harry M. Trebing and Maurice EstabrooksConclusion by David I. Rosenbaum