Technology Giants, the Moligopoly Hypothezis and Holistic Competition: A Primer

Publication Year:
2016
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SSRN
SSRN Id:
2856502
DOI:
10.2139/ssrn.2856502
Author(s):
Nicolas Petit
Tags:
Technology; Digital Economy; Monopoly; Antitrust; Economics; Strategy; Disruption
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paper description
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.