The Meaning of Monopoly: Antitrust Analysis in High-Technology Industries

David Teece and Mary Coleman

Chapter 13 in Essays in Technology Management and Policy:Selected Papers of David J Teece, 2003, pp 340-384 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionCharacteristics of Industries Experiencing Rapid Technological ChangeThe Episodic Nature of Competitive DisruptionThe phenomenaImplication for antitrustIncreasing Returns and Network ExternalitiesThe phenomenon of increasing returnsImplications for antitrustNetwork EffectsThe phenomenonImplications for antitrustDecoupling of Information Flows from the Flow of Goods and ServicesThe phenomenaImplications for antitrustScarcity Rents, Schumpeterian Rents, and Monopoly RentsGeneralRicardian (Scarcity) RentsSchumpeterian (Entrepreneurial) RentsMonopoly (Porterian) RentsThe Hallmarks of Monopoly Power in High TechnologyIntroductionMarket PowerMarket DefinitionGeneralA note on switching costsA Note on Barriers to EntryMarket ShareGeneralIndustrial dynamics and concentration levelsImplications for Conduct AnalysisGeneralThe Importance of InnovationPredatory PricingTying and BundlingIntegration of Function"Vaporware" and the Premature Announcement of New ProductsLuck, Incentives, and IgnoranceConclusionAppendix A Examples of Performance CompetitionDiagnostic ImagingMicroprocessorsAppendix B A Multi-Attribute Small but Significant and Nontransitory Increase in Price (SSNIPP)

Date: 2003
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