CiNii 図書 - Technology and market structure : theory and history

John Sutton sets out a unified theory that encompasses two major approaches to studying market, while generating a series of novel predictions as to how markets evolve. Traditionally, the field of industrial organization has relied on two unrelated theories-the cross-section theory and the growth-of-firms theory-to explain cross-industry differences in concentration and within-industry skewness. The two approaches are based on very different mathematical structures and few researchers have attempted to relate them to each other. In this book, John Sutton unifies the two approaches through a theory that rests on three simple principles. The first two, a "survivor principle" that says that firms will not pursue loss-making strategies, and an "arbitrage principle" that says that if a profitable opportunity is available, some firm will take it, suffice to define a set of possible outcomes. The third, the "symmetry principle," says that the strategy used by a new entrant into any submarket depends neither on the entrants identity nor on its history in other submarkets. This allows researchers to bring together the roles of strategic interactions and of independence effects. The result is that the considerations motivating the cross-section tradition and those motivating the growth-of-firms tradition both drop out within a single game-theoretic model. This book follows Sutton's Sunk Costs and Market Structure, published by MIT Press in 1991.

Part 1 A bound to concentration: theory 1 - equilibrium configurations
technology and market structure
from theory to testing
natural experiments - the high-alpha industries
the low-alpha industries
scale, learning, and the unit size effect
not by technology alone...Part 2 The size distribution: an outline of the argument
in search of a benchmark
theory 2 - independent submarkets
testing the independent submarkets model. Part 3 Extensions and limitations: technology and market structure revisited
extensions and limitations 1 - learning effects
extensions and limitations 2 - networks and standards
a complex case
summing up.

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Technology and market structure : theory and history

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