Innovation Matters: Competition Policy for the High-Technology Economy (Hardcover)

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A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and 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.

Gilbert considers both theory and available empirical evidence on the relationships among market structure, firm behavior, and the production of new products and services. He reviews the distinctive features of the high-tech economy and why current analytical tools used by antitrust enforcers aren't up to the task of assessing innovation concerns. He considers, from the perspective of innovation competition, Kenneth Arrow's “replacement effect” and the Schumpeterian theory of market power and appropriation; discusses the effect of mergers on innovation and future price competition; and reviews the empirical literature on competition, mergers, and innovation. He describes examples of merger enforcement by US and European antitrust agencies; examines cases brought against Microsoft and Google; and discusses the risks and benefits of interoperability standards. Finally, he offers recommendations for competition policy.

About the Author


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.

Praise For…


"Innovation Matters is a timely and important book that pulls together the latest economic thinking about innovation, takes us far beyond the sterile ArrowSchumpeter debate, and sets out a compelling roadmap for improving antitrust law."
– A. Douglas Melamed, Professor of the Practice of Law, Stanford Law School

"How should one rethink competition policy in the world of hightech firms? Using a skillful mix of economic reasoning and illuminating case studies, Richard Gilbert explains why the solution is to move towards a reformed antitrust policy: one that also targets mergers that discourage innovation and new entry. This fascinating book is an absolute mustread for all scholars and policy makers interested in innovation and its relationship with market competition and the new hightech economy."
– Philippe Aghion, Professor at Collège de France and London School of Economics

"There is no better guide for understanding the connection between antitrust enforcement and innovation than the work of Richard Gilbert."
– The Antitrust Source
Product Details
ISBN: 9780262044042
ISBN-10: 0262044048
Publisher: The MIT Press
Publication Date: July 14th, 2020
Pages: 336
Language: English

How to read more

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How To Read More

If you love reading, but for some reason you read less and less, know that everything is fine. It happens.
Our lives today have so many things that distract us - how can we not put books away when all these movies, TV shows, YouTube videos, social networks and endless surfing in online stores are around ...
Yes, it's really hard to resist, but you certainly can!

In this article, we want to share with you some tips to read more often and more successfully.
These are some notes and some practices that we have collected for our SUNDOG BOOKS readers club.
And maybe it will bring more books into your life!

Why do we want/need to read more?

To start reading more, you have to understand why you need it.
And you will be surprised, but your goals can be quite varied:

- for work
If you read a lot on duty, then you definitely need to speed up the process. The logic here is simple: read faster → work faster → more time for books for yourself.

- for education
you need this for your educational career or sometimes you just want to read to learn. And, with all the new alternative ways to gain knowledge (podcasts, online courses and videos), the book still does an excellent job of this task too.

- for self-development
all exercises for increasing speed, one way or another, improve cognition and memory.

- for fun
because good books always = fun!

Book lovers have an additional special goal for reading more often. If you love literature, you will understand what we mean: you want to catch everything - to follow modern literature, and not forget about the classics, look into non-fiction and children's publications. And there’s so much you want to reread! The goals are ambitious, but attainable if you read a lot.

 

And so - How to read more:
We will tell you about the methods that we use ourselves. Perhaps some will suit you as well.

 

15 minutes a day

You've probably already heard this rule: if you want to start a healthy habit, devote 15 minutes a day to it. Once upon a time, we all read irregularly, in jumps and starts. Sometimes we cannot open a book we have begun weeks ago. Therefore, you should decide to create a rule: devote at least 15 minutes a day to reading. Try reading before bed, or maybe during lunchtime, or even when you are having your morning coffee.

You will see progress immediately. You will notice that almost always your 15 minutes will grow into half an hour or more. But the most remarkable thing is that in three weeks your hands themselves will be looking for a book.

 

50 First Pages
This method advises - If the book hasn't hooked you from the first 50 pages, put it aside! Life is too short to read uninteresting books.

It is necessary to change the approach to books. At first it will be hard for you to stop and put the book down. Even if we put the book away, it will seem to reproach us from the shelf, mocking us as quitters. But in the end we should come to one simple thought: if it doesn’t hook your attention, you should not force yourself to read it.

***Fifty pages is not a bad test. Not the most objective, but definitely effective. It helps to determine whether it interests you or not, and whether to spend time on things that do not excite.

 

Reader's Diary

This should be used to improve the quality of reading - to make it more conscious. For starters, it can be a simple notebook with headings:

  • Author
  • Year of publication
  • Main characters
  • Scene
  • Plot
  • Theme
  • Quotes

And, yes, a reader's diary is not a thing about quantity, but about quality. But, it can also motivate. When you open your diary and start looking at quotes (especially quotes), you immediately really want to read.

 

Maybe a Book Bet?
Several people can participate. Members of the betting group can come from friends, family, and also your colleagues. And of course you can set your own rules for participation, but we'll give you a simple example:

Everyone in the group should read and review a book over the course of a month with weekly updates. Anyone who does not finish a review buys the book for all other participants for the next month.

 

Speed Reading

Another effective way to increase the amount you read is speed reading. The logic here is simple - the faster you read, the more books you can enjoy.

*There are many online courses on speed reading, and you can also study on your own using instructional books. But, it is worth noting that this is a serious learning process that will require some effort on your part.

 

Outcome

Reading every day is quite attainable, the main thing is to try to make it a habit.
Sometimes, instead of heading for Facebook, try opening a book and soon you won’t even remember why you needed to wander around social media.
And also - don't forget about audiobooks. They are a cool way to take the load off your eyes sometimes and just immerse yourself in the story. Some books are really strong in voice acting.

 
 
 

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