Technology Giants, the Moligopoly Hypothesis and Holistic Competition: A Primer
76 Pages Posted: 22 Oct 2016 Last revised: 18 Jun 2019
Date Written: October 20, 2016
This paper shows that the technology giants that antitrust agencies tend to characterize as entrenched monopolists can also be seen as firms engaged in a process of vibrant oligopolistic competition. Those firms - we refer to them as "moligopolists" - compete against the non-consumption in search of new and low-end market footholds. The failure of the antitrust structure to see that rivalry – its intensity may vary from one company to another – originates both in mainstream economics and applied competition theory. We believe those defects can be cured with a rechanneling of antitrust policy towards certain types of restraints, in certain types of market settings.
Keywords: Technology, Digital Economy, Monopoly, Antitrust, Economics, Strategy, Disruption
JEL Classification: K00, K20, K21, K40, K42, L40, L41
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