This book investigates under which circumstances vertical unbundling can lead to a more efficient market result. The assessment is based on an interdisciplinary approach combining law and economics. Drawing on the assessment, circumstances are subsequently presented under which unbundling might become necessary. Additionally, less severe means of regulatory intervention are suggested in order to protect competition. Given its scope, the book is chiefly intended for scholars and practitioners in the field of economic policy and regulation law; in addition, it will give interested members of the public a unique opportunity to learn about the underlying rationales of regulation law and regulation economics.
Law and Economics of Vertical Integration and Control focuses on the processes, methodologies, and approaches involved in the law and economics of vertical integration and control. The publication first elaborates on transaction costs, fixed proportions and contractual alternatives, and variable proportions and contractual alternatives. Discussions focus on sales revenue royalties, ownership integration, output royalties, important product-specific services, successive monopoly, advantages and limitations of internal transfers, and transaction cost determinants. The text then examines vertical integration under uncertainty and vertical integration without contractual alternatives. The book ponders on legal treatment of ownership integration and per se illegal contractual controls. Topics include tying arrangements, public policy assessment, resale price maintenance, vertical integration and the Sherman Act, market foreclosure doctrine, and the 1982 Merger Guidelines. The text also takes a look at contractual controls that are not illegal per se, alternative legal rules, and antitrust policy. The publication is a dependable reference for researchers interested in the law and economics of vertical integration and control.
These contributions discuss a number of important developments over the past decade in a newly established and important field of economics that have led to notable changes in views on governmental competition policies. They focus on the nature and role of competition and other determinants of market structures, such as numbers of firms and barriers to entry; other factors which determine the effective degree of competition in the market; the influence of major firms (especially when these pursue objectives other than profit maximization); and decentralization and coordination under control relationships other than markets and hierarchies.ContributorsJoseph E. Stiglitz, G. C. Archibald, B. C. Eaton, R. G. Lipsey, David Enaoua, Paul Geroski, Alexis Jacquemin, Richard J. Gilbert, Reinhard Selten, Oliver E. Williamson, Jerry R. Green, G. Frank Mathewson, R. A. Winter, C. d'Aspremont, J. Jaskold Gabszewicz, Steven Salop, Branko Horvat, Z. Roman, W. J. Baumol, J. C. Panzar, R. D. Willig, Richard Schmalensee, Richard Nelson, Michael Scence, and Partha Dasgupta
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
This book aims to describe the mechanisms of the internal wholesale electricity market in terms of the legal tools and practices used by electricity producers, the most important market participants. In this regard, the focus is on Northwestern Europe. Because of the book’s functional perspective, it is not limited to the external regulation of electricity markets at the EU level and also describes the business models and practices employed by electricity producers. Both the physical and financial marketplaces are examined and topics including electricity supply, balancing, transmission and derivatives are covered. The target for the completion of the EU’s internal electricity market was 2014. The internal wholesale electricity market is very important not only for electricity producers, suppliers and major end consumers but also for network operators, marketplace operators, electricity technology firms, investment firms and market regulators.
This book assesses new developments in and reform of China's banking law system following its accession of the WTO. It focuses on the relationship between GATS/WTO national treatment obligations and China's banking law. Tracing the history of national treatment in China, the book compares the treatment of foreign-funded banks with the treatment of Chinese-funded banks and examines the structure and shortcomings of the existing banking law framework in China. Offering suggestions as to how the framework could be restructured and analysing the economic and political bases of an integrated banking law framework, the book argues that reorganization would bring about greater consistency with GATS/WTO national treatment requirements. The book also explores the ambiguous definition of prudential carve-out, the subtle relationship between GATS national treatment and market access based on WTO cases, national treatment clauses in China’s bilateral investment treaties, and special treatment on banking in China’s free trade agreements. This volume is a valuable resource for academics and students as well as professionals and policy-makers working in the field of banking, WTO, Chinese law and foreign trade.
This book constructs both educational and research arguments on various dimensions of Information and Communication Technology (ICT) policy and regulation. There has been a paradigm shift in the ICT industry due to convergence of various technologies, the ubiquity of the Internet, the emergence of app economy and the pervasiveness of social media. These pose policy and regulatory challenges in the areas of industry structure, market power of firms, pricing of products and services, interconnection of networks, radio spectrum management, intellectual property rights, data privacy and security. The common thread throughout the different sections of the book is the massive adoption of digitization by individuals, enterprises, governments and societies and the critical role of associated regulation and policy for its success. The book addresses 13 important questions in the areas of: i) Telecom Regulation including bundling of products and services, interconnection, and radio spectrum; (ii) Internet Regulation including governance of the Internet, Net Neutrality, quality of service, and cyber security; (iii) App Economy Regulation including Over The Top communication and broadcast services, ICT platform intermediation, sharing economy, data protection and privacy; and (iv) Emerging Technology Regulation including Artificial Intelligence and Intellectual Property Rights. The book explains technology and related regulatory concepts in an easy-to-read format and includes brief case studies describing the regulatory approaches from different countries. Specific focus is given to the regulatory landscape in India surrounding these questions and the lessons for similar emerging countries. Written in the form of contemporary questions and answers, this unique book appeals to researchers in ICT policy and regulation, regulators and policymakers, as well as students interested in the subject area. "The book comprehensively covers the current and emerging policy and regulatory issues relating to ICT, especially as applicable to India. Further, it provides a theoretical framework for analysing each regulatory issue along with practical implications. A good reference for researchers, regulators and policy makers." - Dr R.S. Sharma, Chairman, Telecom Regulatory Authority of India. “This book by Professor Sridhar provides an excellent overview of the challenges that the world faces in coping with the dynamic new emerging digital technologies that affect the way we work, play and communicate with each other. As the internet and mobile telephony becomes more ubiquitous and accessible to everyone regardless of socio-economic class, ICT can be used for good or for mischief. The book lays out the issues of regulating global ICT and policies that governments should adopt to enable its productive and positive use.” - Dr G Anand Anandalingam, Ralph J. Tyser Professor of Management Science, Robert H. Smith School of Business, University of Maryland, U.S.A. “Using problem-centric approach successfully opens the complexity of ICT regulation to a wider audience. Through cleverly chosen topical case examples the book links the problems of Indian and international ICT markets.” - Dr Hämmäinen Heikki, Professor, Department of Communications and Networking, Aalto University, Finland. “Prof Sridhar is a Thought Leader in the Telecom space and I have enjoyed my interaction with him over the years. This book is an excellent compendium looking at the main regulations and policies with reference to the ICT sector. It serves as a ready reckoner for new entrants and professionals alike, providing global and local perspectives on topics that impact the growing Digital Economy.” - P Balaji, Chief Regulatory and Corporate Affairs Officer, Vodafone Idea Limited, India “Emerging ICT Policies and Regulations: Roadmap to Digital Economies is a must read for understanding essential questions regarding ICT Policy and Regulation as digitization develops locally and globally. With useful information on the case of India (and other countries), the book provides a clear, comprehensive, and cogent capture of relevant concepts and practices as well as emerging challenges. Powerful illustrations make concrete the nuance of regulatory approaches and provide added value for the reader.” - Dr. Nanette S. Levinson, Professor, Internet Governance Lab, School of International Service, American University, USA, “Reference books are usually an important source of information but they are often not very readable. I am glad to say that Prof. Sridhar has managed to produce a very-well written account of ICT regulation and policies with a focus on India, and the result is a comprehensive and interesting volume with a number of very useful chapters; many of them easily digested on their own. The book is highly recommended for members of the internet and telecommunications industries, regulators and researchers.” - Dr Jairo Gutierrez, Professor and Deputy Head, Engineering Computer and Mathematical Sciences, Auckland University of Technology, New Zealand. “Professor Sridhar's book provides the required regulatory theory and framework on 13 most important issues of the digital economy and provides guidance for setting policies and rules. A comprehensive reference for students and practitioners in the area of ICT regulation.” - Dr S Sadagopan, Director and Professor, International Institute of Information Technology Bangalore, India "Emerging ICT Policies and Regulations puts together invaluable and timely research in mapping and analysing the various issues faced by digital economy in India. Prof Sridhar has captured the most pressing issues in it, pertaining to Competition Law and Policy, Intellectual Property Rights, net neutrality, data privacy, regulating OTT services etc., not just comprehensively, but in a reader friendly way. A must read for anyone wanting to get insights on the numerous challenges involved in optimally regulating ICT driven services". - Pradeep S Mehta, Secretary General, Consumer Unity & Trust Society International, India “The Book is a very exhaustive and excellent collection of contemporary issues & challenges on Policy & Regulation that the Digital Economy is likely to grapple with in the coming years. The research on each of these issues which precedes the suggested outcome ( by the author ) is very comprehensive and includes detailed analysis of the pros and cons, global best practices in the area of Policy Regulation in other Regimes , how the Indian context differs from the others and therefore , how it could possibly be addressed. " - TV Ramachandran, President, Broadband India Forum, India “Whether it is spectrum auction or license fee; net neutrality or interconnection; cybersecurity or privacy; Sridhar peels off layers and presents underlying tensions within the fast-paced technological revolution and rather slow evolution of policy & regulation.” - Deepak Maheshwari, Former Secretary - ISP Association of India, Co-Founder - National Internet eXchange of India, Former Chair - IEEE Internet Initiative, India. “An encyclopedic mapping of regulatory challenges and solutions for the sector by the always insightful Prof. Sridhar. Through a single book, he provides an accessible guide to a plurality of regulations impacting the various layers of the OSI model.” - Sunil Abraham, Executive Director, Centre for Internet & Society, India
