The Economics of Competition, Collusion and In-between
Autor Claude d’Aspremont, Rodolphe Dos Santos Ferreiraen Limba Engleză Paperback – 19 mai 2022
Relative to the dominant model of monopolistic competition, The Economics of Competition, Collusion and In-between aims to explore an alternative tractable model of firm competition opening the application of oligopoly theory to many fields in economics where general equilibrium features are crucial. It will be relevant to those interested in applied industrial organization, trade, macroeconomics (in particular macrodynamics) and quantitative economics.
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Specificații
ISBN-13: 9783030636043
ISBN-10: 3030636046
Ilustrații: XIX, 160 p. 13 illus.
Dimensiuni: 148 x 210 mm
Greutate: 0.25 kg
Ediția:1st ed. 2021
Editura: Springer International Publishing
Colecția Palgrave Macmillan
Locul publicării:Cham, Switzerland
ISBN-10: 3030636046
Ilustrații: XIX, 160 p. 13 illus.
Dimensiuni: 148 x 210 mm
Greutate: 0.25 kg
Ediția:1st ed. 2021
Editura: Springer International Publishing
Colecția Palgrave Macmillan
Locul publicării:Cham, Switzerland
Cuprins
`Chapter 1: Modelling the intensity of competition.- Chapter 2: Competition for Market share and for market size.- Chapter 3: Competition within and between groups of firms.- Chapter 4: Extensions.
Notă biografică
Claude d’Aspremont is Emeritus Professor in Economics, member and Past-President of the Center for Operations Research and Econometrics (CORE) at the Université Catholique de Louvain (UCL), Belgium. He was awarded the Francqui Prize 1995.
Rodolphe Dos Santos Ferreira is Emeritus Professor in Economics at the University of Strasbourg, France, working at the Bureau d’Economie Théorique et Appliquée (BETA), of which he was co-director (1979-1992). He is also a part-time member of Católica Lisbon School of Business and Economics, Portugal. He is a honorary senior member of the Institut Universitaire de France.
Rodolphe Dos Santos Ferreira is Emeritus Professor in Economics at the University of Strasbourg, France, working at the Bureau d’Economie Théorique et Appliquée (BETA), of which he was co-director (1979-1992). He is also a part-time member of Católica Lisbon School of Business and Economics, Portugal. He is a honorary senior member of the Institut Universitaire de France.
Textul de pe ultima copertă
“Empirical evidence shows that many markets are characterized by a few large firms that behave strategically, while cohabiting with a competitive fringe of small firms. Thus, there is a need to consider general equilibrium settings that account explicitly for strategic interactions among big firms. In this short but deep book, d’Aspremont and Dos Santos Ferreira provide several solutions that can reconcile “old” and “new” approaches to market competition through a series of nested frameworks. What makes this book unique is that the authors recognize explicitly the key role played by the labor market for the product market outcome. Their work is, therefore, a fundamental contribution that will allow us to understand better how markets work. Readers will also find a wide range of tools that can be used in different applications.”
- Jacques-François Thisse, CORE, Université Catholique de Louvain.
“Oligopoly in general equilibrium has proved an elusive goal in theory for decades, with Claude d'Aspremont and Rodolphe Dos Santos Ferreira among the small group of scholars that have taken it seriously. In recent years, the big data revolution has revealed just how important very large firms are, especially in international trade, and has encouraged more work breaking away from the perfectly and monopolistically competitive paradigms. This book could not be more timely therefore, and should be required reading for anyone working in this important field.”
- Peter Neary, Georgetown University Qatar and Merton College, University of Oxford.
This book provides a methodology for the analysis of oligopolistic markets from an equilibrium viewpoint, considering competition within and between groups of firms. It proposes a well-founded measure of competitive toughness that can be used in empirically relevant applications. This measure reflects the weight put by each firm on competition for market share relative to competition for market size – two dimensions of competition involving conflicting and convergent interests, respectively. It further explores several applications, such as the effect of tougher competition on innovation and of output market power on the emergence of involuntary unemployment, as well as the importance of strategic interactions for investment decisions.
The Economics of Competition, Collusion and In-between provides a methodology for the analysis of oligopolistic markets from an equilibrium viewpoint, considering competition within and between groups of firms. It proposes a well-founded measure of competitive toughness that can be used in empirically relevant applications. It aims to offer an alternative tractable model of firm competition opening the application of oligopoly theory to many fields in economics where general equilibrium features are crucial. It will be relevant to those interested in applied industrial organization, trade, macroeconomics and quantitative economics.- Jacques-François Thisse, CORE, Université Catholique de Louvain.
“Oligopoly in general equilibrium has proved an elusive goal in theory for decades, with Claude d'Aspremont and Rodolphe Dos Santos Ferreira among the small group of scholars that have taken it seriously. In recent years, the big data revolution has revealed just how important very large firms are, especially in international trade, and has encouraged more work breaking away from the perfectly and monopolistically competitive paradigms. This book could not be more timely therefore, and should be required reading for anyone working in this important field.”
- Peter Neary, Georgetown University Qatar and Merton College, University of Oxford.
Caracteristici
Introduces a comprehensive model of firm oligopolistic behaviour, with price-quantity competition, nesting a multiplicity of competition regimes, with conduct parameters varying continuously between tacit collusion and cutthroat competition Provides an approach by which to empirically measure market power, using a tractable framework that is parsimonious in the parameter space Extends the potential applications (in IO, Trade and Macro) and reinforces the general equilibrium dimension of Dixit-Stiglitz (1977) seminal model by assuming non-negligible firms (and hence non-negligible intersectoral effects) and by further exploiting separability with one or more groups of firms