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Author: Philippe Aghion Publisher: MIT Press ISBN: 0262512025 Category : Business & Economics Languages : en Pages : 115
Book Description
Though competition occupies a prominent place in the history of economic thought, among economists today there is still a limited, and sometimes contradictory, understanding of its impact. In Competition and Growth, Philippe Aghion and Rachel Griffith offer the first serious attempt to provide a unified and coherent account of the effect competition policy and deregulated entry has on economic growth. The book takes the form of a dialogue between an applied theorist calling on "Schumpeterian growth" models and a microeconometrician employing new techniques to gauge competition and entry. In each chapter, theoretical models are systematically confronted with empirical data, which either invalidates the models or suggests changes in the modeling strategy. Aghion and Griffith note a fundamental divorce between theorists and empiricists who previously worked on these questions. On one hand, existing models in industrial organization or new growth economics all predict a negative effect of competition on innovation and growth: namely, that competition is bad for growth because it reduces the monopoly rents that reward successful innovators. On the other hand, common wisdom and recent empirical studies point to a positive effect of competition on productivity growth. To reconcile theory and evidence, the authors distinguish between pre- and post-innovation rents, and propose that innovation may be a way to escape competition, an idea that they confront with microeconomic data. The book's detailed analysis should aid scholars and policy makers in understanding how the benefits of tougher competition can be achieved while at the same time mitigating the negative effects competition and imitation may have on some sectors or industries.
Author: Philippe Aghion Publisher: MIT Press ISBN: 0262512025 Category : Business & Economics Languages : en Pages : 115
Book Description
Though competition occupies a prominent place in the history of economic thought, among economists today there is still a limited, and sometimes contradictory, understanding of its impact. In Competition and Growth, Philippe Aghion and Rachel Griffith offer the first serious attempt to provide a unified and coherent account of the effect competition policy and deregulated entry has on economic growth. The book takes the form of a dialogue between an applied theorist calling on "Schumpeterian growth" models and a microeconometrician employing new techniques to gauge competition and entry. In each chapter, theoretical models are systematically confronted with empirical data, which either invalidates the models or suggests changes in the modeling strategy. Aghion and Griffith note a fundamental divorce between theorists and empiricists who previously worked on these questions. On one hand, existing models in industrial organization or new growth economics all predict a negative effect of competition on innovation and growth: namely, that competition is bad for growth because it reduces the monopoly rents that reward successful innovators. On the other hand, common wisdom and recent empirical studies point to a positive effect of competition on productivity growth. To reconcile theory and evidence, the authors distinguish between pre- and post-innovation rents, and propose that innovation may be a way to escape competition, an idea that they confront with microeconomic data. The book's detailed analysis should aid scholars and policy makers in understanding how the benefits of tougher competition can be achieved while at the same time mitigating the negative effects competition and imitation may have on some sectors or industries.
Author: Shelby D. Hunt Publisher: SAGE Publications ISBN: 1452221642 Category : Business & Economics Languages : en Pages : 321
Book Description
Hunt convincingly demonstrates that competition is not about dividing up limited resources but about creating more resources and thus competition is pro-society. This truly interdisciplinary book successfully develops a general theory of competition which is rich in explanatory breadth and depth. Consequently, executives and entrepreneuers, management consultants, public makers, and scholars and students in economics, law, political science, and business should read and study this book. —Robert F. Lusch, University of Oklahoma This book develops a new theory of competition. This theory – labeled "resource-advantage theory" – stems from no single research tradition, but draws on several different traditions in economics, management, marketing, and sociology. In this ground-breaking volume, Shelby Hunt articulates R-A theory, uses the theory to explain and predict economic phenomena, and shows how (and why) it explains and predicts such phenomena.
Author: Hiroyuki Odagiri Publisher: Clarendon Press ISBN: 0191521558 Category : Business & Economics Languages : en Pages : 381
Book Description
This book examines two central aspects of Japanese management - growth pursuit by internal investment (as opposed to acquisition), and intensive competition within and between Japanese firms. It also looks at how Japanese firms maintain efficiency and flexibility under the apparently rigid system of 'lifetime' employment. The author begins by enquiring in to the financial and human aspects of the firm with a particular emphasis placed on the human side. T he motivation, behaviour, and organization of Japanese management are discussed and the consequences of Japan's management system on its industrial organization and macroeconomy are examined. Throughout the book, it is emphasized that competition is at the heart of the Japanese economy and management to the same, if not to a greater degreee than in the West. This competition is enhanced by the growth preference of Japanese management, and competition in turn makes growth feasible.
Author: Yuji Honjo Publisher: Springer ISBN: 9811038635 Category : Business & Economics Languages : en Pages : 267
Book Description
This book addresses three important concepts in the economy—competition, innovation, and growth—using various cases and available data in Japan and other countries. First, the authors discuss competition, including global competition, to provide a better understanding of competition policy in Japan. Then, the authors examine the effects of human capital and alliance on innovation while providing new innovation indicators. Moreover, the authors examine growth from the perspective of corporate strategy such as acquisition, including international comparison. The interplay of competition, innovation, and growth has been prevalent in Japan, and it still acts as a catalyst for stimulating the stagnant economy. A better understanding of competition, innovation, and growth provides the tools to reinvigorate the stagnant economy in Japan and to reinforce the economy in other countries where the period of rapid growth has ended.
Author: Israel M. Kirzner Publisher: University of Chicago Press ISBN: 022637548X Category : Business & Economics Languages : en Pages : 258
Book Description
Stressing verbal logic rather than mathematics, Israel M. Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. Competition and Entrepreneurship offers a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics. Kirzner's book establishes a theory of the market and the price system which differs from orthodox price theory. He sees orthodox price theory as explaining the configuration of prices and quantities that satisfied the conditions for equilibrium. Mr. Kirzner argues that "it is more useful to look to price theory to help understand how the decisions of individual participants in the market interact to generate the market forces which compel changes in prices, outputs, and methods of production and in the allocation of resources." Although Competition and Entrepreneurship is primarily concerned with the operation of the market economy, Kirzner's insights can be applied to crucial aspects of centrally planned economic systems as well. In the analysis of these processes, Kirzner clearly shows that the rediscovery of the entrepreneur must emerge as a step of major importance.
Author: Thomas Philippon Publisher: Belknap Press ISBN: 0674237544 Category : Business & Economics Languages : en Pages : 361
Book Description
American markets, once a model for the world, are giving up on competition. Thomas Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by investing and innovating, powerful firms use political pressure to secure their advantages. The result is less efficient markets, leading to higher prices and lower wages.
Author: Andrei Perumal Publisher: McGraw Hill Professional ISBN: 0071835547 Category : Business & Economics Languages : en Pages : 256
Book Description
A new lens on growth and a critical set of strategies for navigating a complex world Growth is rarely in a straight line. It is tempting to think otherwise, particularly when looking in the rear view mirror, but anyone faced with plotting the coordinates for a company's growth knows the fallacy of this notion. As much as we like to think of corporate leaders executing sure-fire growth strategies, the truth is far messier: it’s more an act of exploration and discovery than a step-by-step process. In Growth in the Age of Complexity, the authors describe in detail how complexity has impacted businesses and the markets in which they compete, and the strategies, mindsets and skillsets required to grow profitably! New strategies are required to navigate the “Sirens of Growth”: the growth plans borne of Industrial Age mindsets that too frequently lead to complexity vs. scale. In addition, companies need to develop an Explorer’s Mindset and a Navigator’s Skillset to sustain performance. You’ll discover how to: •Assess where you’re truly making money •Reignite your core products and services to drive growth •Incorporate experimentation as a key way to discover new opportunities •Create an operating model for scale, location, and replication •Identify new markets where you are positioned to win •Understand the fundamentals for executing in a distributed organization This book is an invaluable tool for achieving growth and maintaining a competitive advantage in virtually any business.
Author: National Bureau of Economic Research Publisher: Princeton University Press ISBN: 1400879760 Category : Political Science Languages : en Pages : 647
Book Description
The papers here range from description and analysis of how our political economy allocates its inventive effort, to studies of the decision making process in specific industrial laboratories. Originally published in 1962. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Susan P. Joekes Publisher: IDRC (International Development Research Centre) ISBN: Category : Antitrust law Languages : en Pages : 108
Book Description
"This book demonstrates the importance of true and fair competition to sustainable development and an effective marketplace, touching on issues of globalization, consumer welfare, cartels and monopolies, and trade liberalization. It provides an introduction to competition, and to competition law and policy in developing countries. It focuses on the practical problems faced in developing countries and the steps that have been and can be taken to overcome those problems. It is about anticompetitive practices as they occur in developing countries and the policies that governments and citizens can promote and implement to limit the impact of such practices." "The book will be of particular interest to consumer groups and NGOs, as well as to government officials, legislators, trade negotiators, and the judiciary. Educators, students, development professionals, and business groups will also find the book useful."--BOOK JACKET.
Author: Martha Martinez Licetti Publisher: World Bank Publications ISBN: 1464809461 Category : Business & Economics Languages : en Pages : 242
Book Description
Sustainable economic development has played a major role in the decline of global poverty in the past two decades. There is no doubt that competitive markets are key drivers of economic growth and productivity. They are also valuable channels for consumer welfare. Competition policy is a powerful tool for complementing efforts to alleviate poverty and bring about shared prosperity. An effective competition policy involves measures that enable contestability and firm entry and rivalry, while ensuring the enforcement of antitrust laws and state aid control. Governments from emerging and developing economies are increasingly requesting pragmatic solutions for effective competition policy implementation, as well as recommendations for pro-competitive sectoral policies. A Step Ahead: Competition Policy for Shared Prosperity and Inclusive Growth puts forward a research agenda that advocates the importance of market competition, effective market regulation, and competition policies for achieving inclusive growth and shared prosperity in emerging and developing economies. It is the result of a global partnership and shared commitment between the World Bank Group and the Organisation for Economic Co-operation and Development (OECD). Part I of the book brings together existing empirical evidence on the benefits of competition for household welfare. It covers the elimination of anticompetitive practices and regulations that restrict competition in key markets and highlights the effects of competition on small producers and employment. Part II of the book focuses on the distributional effects of competition policies and how enforcement can be better aligned with shared prosperity goals.
Author: Philippe Aghion
Author: Philippe Aghion
Author: Shelby D. Hunt
Author: Hiroyuki Odagiri
Author: Yuji Honjo
Author: Israel M. Kirzner
Author: Thomas Philippon
Author: Andrei Perumal
Author: National Bureau of Economic Research
Author: Susan P. Joekes
Author: Martha Martinez Licetti