RT Journal Article
SR 00
ID 10.1093/ooec/odad080
A1 Tirole, Jean
T1 Competition and industrial policy in the 21st century
JF Oxford Open Economics
YR 2024
FD 2024-07
VO vol.3
IS supp.1
SP i983–i1001
OP i983–i1001
K1 regulation
K1 divestiture
K1 antitrust
K1 industrial policy
K1 contestability
K1 mergers
K1 data
AB Large fixed costs and (direct and indirect) network externalities generate barriers to entry and high markups for winners in the digital industry. The potential for high prices, low innovation and abuses of dominant position as well as the contribution to rising inequality raise the question of how countries should regulate the industry. The tech giants’ dominance does not confront us with an unpalatable choice between laissez-faire and populist interventions. The commentary explains economic stakes, considers desirable adaptations of regulation in the digital age and draws some conclusions for policy reform.
PB Oxford University Press
SN 2752-5074
LK https://publications.ut-capitole.fr/id/eprint/49734/
UL http://tse-fr.eu/pub/129793