Innovation Matters

Innovation Matters

Competition Policy for the High-Technology Economy

Richard J. Gilbert

$28.99

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Description

A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and available evidence on economic incentives for innovation.

Competition policy and antitrust enforcement have traditionally focused on prices rather than innovation. Economic theory shows the ways that price competition benefits consumers, and courts, antitrust agencies, and economists have developed tools for the quantitative evaluation of price impacts. Antitrust law does not preclude interventions to encourage innovation, but over time the interpretation of the laws has raised obstacles to enforcement policies for innovation. In this book, economist Richard Gilbert proposes a shift from price-centric to innovation-centric competition policy. Antitrust enforcement should be concerned with protecting incentives for innovation and preserving opportunities for dynamic, rather than static, competition. In a high-technology economy, Gilbert argues, innovation matters.


Author

Richard J. Gilbert:
Richard J. Gilbert is Emeritus Professor of Economics at the University of California, Berkeley. He worked as Deputy Assistant Attorney General for Economics in the US Department of Justice's Antitrust Division from 1993 to 1995.

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