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Cover Industry Organization and Industrial Policy

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series "Manuali"
pp. 632, Brossura, 978-88-15-38838-4
publication year 2024

MARCO R. DI TOMMASO, LAURETTA RUBINI, ELISA BARBIERI, CHIARA POLLIO

Industry Organization and Industrial Policy

Production and Innovation, Development and the Public Interest

Preface
Introduction
PART I. ENTERING THE FIELD OF STUDY
I. Some basic concepts
1.1. The market: Demand function
1.1.1. Demand function and elasticity
1.2. The market: Supply function
1.2.1. Supply function and elasticity
1.3. Movements along the curve and shifts of the curve
1.4. The market: Consumer surplus and producer surplus
1.5. Neoclassical firm: Cost curves and profit maximisation
1.5.1. The short run
1.5.2. The long run
1.6. Entry and exit barriers
■ Summary
■ Exercises and food for thought
II. Market structures: Models and theories
2.1. References to the models of perfect competition and monopoly
2.1.1. Perfect competition
2.1.2. Monopoly
2.2. Oligopoly and monopolistic competition
2.2.1. Oligopoly
2.2.1.1. Interdependence between firms, game theory and the prisoner’s dilemma
2.2.1.2. The main models of non-cooperative oligopoly
2.2.2. Monopolistic competition
2.3. The Structure-Conduct Performance (S-C-P) paradigm
2.4. Market structures and concentration measures
2.4.1. Determining the relevant market
2.4.2. The concentration of sellers in a market and possible measurements
■ Summary
■ Exercises and food for thought
PART II. ORGANISATION OF PRODUCTION
III. Variety of enterprise models
3.1. A first stylisation of the enterprise
3.1.1. The characteristics of the new enterprise in the industrial revolution
3.1.2. Towards a neoclassical theory of the firm
3.1.3. Criticism of the neoclassical representation
3.1.3.1. On the objectives of the enterprise
3.1.3.2. On the organisational complexity of the firm
3.1.3.3. On uncertainty and imperfect information
3.1.3.4. On the decision-making process
3.1.4. In defence of the neoclassical theory of the firm
3.2. Developments in the theory of the firm: The American case
3.2.1. Birth and evolution of the American enterprise
3.2.2. The rise of Toyotism
3.2.3. Managerial theories
3.2.4. Behavioural theories
3.3. Transaction cost theory: A way of defining the boundaries of the enterprise through contracts
3.3.1. Transactions costs and the make or buy choice
3.3.2. The agency theory
3.3.2.1. Organisational structures
3.3.2.2. Critiques to the transaction cost theory
3.4. The innovative enterprise: The resources and skills evolution perspective
■ Summary
■ Exercises and food for thought
IV. Variety of production organisation models
4.1. Further developments in business theory and variety of enterprise forms
4.1.1. Large groups: The Japanese and South Korean cases
4.1.1.1. The Japanese case: First zaibatsu and then keiretsu
4.1.1.2. The South Korean case
4.1.2. State-owned enterprise
4.1.3. The cooperative model
4.1.3.1. Possible limits to the development of the cooperative model
4.1.4. Social enterprise and the non-profit sector
4.1.5. The multinational enterprise
4.2. Between market and hierarchy: Systems of firms
4.2.1. Industrial districts and clusters
4.2.2. Industrial districts and the Italian case
4.2.3. Enterprise networks and global value chains
■ Summary
■ Exercises and food for thought
PART III. FIRM STRATEGY
V. Mergers & acquisitions
5.1. Horizontal mergers
5.1.1. The effects of horizontal mergers on market competition
5.1.2. The effects of horizontal mergers on productive efficiency
5.2. Vertical mergers
5.3. Conglomerate mergers and the diversified firm
5.3.1. The advantages of diversification
■ Summary
■ Exercises and food for thought
VI. Strategic alliances & vertical restraints
6.1. Strategic alliances
6.1.1. Joint ventures
6.1.2. Consortia
6.1.3. Franchising
6.1.4. Licensing agreements
6.2. Vertical restraints
■ Summary
■ Exercises and food for thought
VII. Price strategies
7.1. Pricing methods
7.2. Price discrimination
7.2.1. Definitions and requisites
7.2.2. Typologies
7.2.3. Price discrimination and social desirability
7.3. Pricing and competitive behaviour
7.3.1. Predatory pricing
7.3.2. Limit pricing
7.4. State-regulated prices: Maximum and minimum prices
■ Summary
■ Exercises and food for thought
VIII. Product differentiation & advertising
8.1. From mass production to mass personalisation
8.2. Product differentiation
8.2.1. Horizontal differentiation and vertical differentiation
8.2.2. Natural differentiation and strategic differentiation
8.3. Advertising and its functions
8.4. Characteristics of goods, advertising and reputation
8.5. Advertising and market structure
8.6. Advertising: Good or bad?
8.6.1. Online Behavioural Advertising
8.6.2. Advertising and regulation
■ Summary
■ Exercises and food for thought
IX. R&D, technological innovation, intellectual property protection
9.1. Some introductory concepts
9.2. Innovation as public good: Information paradox and research appropriability
9.3. Tools for the protection of intellectual property
9.4. The patent
9.4.1. Requirements and validity
9.4.2. The patenting procedure: Italy
9.4.3. The patenting procedure: Unitary patent, European patent and international patent
9.5. Markets for technology
9.5.1. Transactions that can be performed
9.5.2. Main limitations
■ Summary
■ Exercises and food for thought
X. Innovation in business strategies
10.1. Innovation and market structure
10.2. Innovation and company size
10.3. Timing of innovation: Pioneers or followers?
10.3.1. Pioneer advantage and follower advantage
10.3.2. Diffusion of innovation and pioneer advantage
10.4. Open innovation: Collaborating to innovate
10.4.1. Research joint ventures
10.4.2. University-enterprise technology transfer
10.4.3. Innovation networks
10.5. National, regional and sectoral innovation systems
10.6. Social innovation
■ Summary
■ Exercises and food for thought
PART IV. INDUSTRIAL POLICY
XI. Industrial Policy: Theories and government practices
11.1. Industrial policy: Target and objectives
11.1.1. The domain of industrial policy
11.1.2. The targets of industrial policy
11.1.3. The goals of industrial policy
11.1.4. Our definition of industrial policy
11.2. Industrial policy: The two trajectories of an ancient debate
11.3. The first trajectory. Industry and national strategic interest: The origin
11.3.1. The origins of the support for industry and mercantilist policies
11.3.2. England
11.3.3. France
11.3.4. The United States
11.3.5. Germany
11.4. The second trajectory: Laissez-faire and free market
11.5. More on the first trajectory: The keynesian revolution
11.6. More on the second trajectory: The neoliberalist consensus
11.6.1. Keynes vs. Hayek: The clash between the two trajectories
11.6.2. The neoliberalist triumph
11.6.3. Rhetoric and reality: The “Bad Samaritans”
11.7. Back to “the first trajectory”
11.7.1. The Great Crisis of 2008
11.7.2. Donald Trump bursts onto the scene
11.7.3. The 2020s: The Great Pandemic Crisis
11.7.4. The 2020s: Shocks, wars and government policy interventions
■ Summary
■ Exercises and food for thought
XII. Industrial Policy: Parallel trajectories of discussion and intervention
12.1. The pioneers of development in the post-colonial era and the structuralist school
12.2. Marx, Marxist thought, and industrialisation in the soviet bloc
12.2.1. Marx and Marxist thought
12.2.2. Industrialisation in the Soviet Union and satellite countries: 1917-1989
12.3. The asiatic models: Japan, South Korea and China
12.3.1. Japan
12.3.2. The Asian Tigers: South Korea and the “other miracles”
12.3.2.1. The debate on the “miracle”: Theories and reality
12.3.3. China
12.4. The EU industrial policy
12.5. Industrial policy in the global context: Final remarks and recent facts
12.5.1. Industrial policy and globalisation: Act one, the end of history
12.5.2. Industrial policy and globalisation: Act two, shocks and disruptions
■ Summary
■ Exercises and food for thought
XIII. The rationales of Industrial Policy: A first step
13.1. Industrial policy when “markets fail”
13.1.1. Externalities
13.1.1.1. Negative externalities: A focus on pollution
13.1.1.2. Summary considerations on externalities and industrial policy
13.1.2. Public goods
13.1.2.1. Knowledge
13.1.2.2. Summary considerations on public goods and industrial policy
13.1.3. Information asymmetries
13.1.3.1. Summary considerations on information and industrial policy
13.1.4. Non-competitive markets
13.2. Critiques to the market failure approach
■ Summary
■ Exercises and food for thought
XIV. A closer look: Antitrust and competition policies
14.1. The areas of intervention of competition policy
14.1.1. Policies against the abuse of market power
14.1.2. Mergers and acquisitions control policies
14.1.3. Policies against anti-competitive practices
14.2. Competition policy around the world
14.2.1. Competition policy in the United States
14.2.2. Competition policy in the European Union
14.2.3. Competition policy in China
14.2.4. Competition policy in developing countries
■ Summary
■ Exercises and food for thought
XV. Other rationales for Industrial Policy: A second step
15.1. Introduction: Beyond market failures
15.2. Economically strategic objectives, structural change and selective policies
15.2.1. The bailout of companies and the promotion of national champions
15.2.2. Policies for strategic industries and sunset industries
15.2.3. Regional policies and territorial rebalancing
15.3. “Metaeconomic” objectives
15.3.1. The “paternalistic” approach
15.3.2. The capabilities approach
15.3.2.1. Sustainable development
■ Summary
■ Exercises and food for thought
XVI. Industrial Policy and government failures: A last step
16.1. Introduction
16.2. Government failures
16.3. Industrial policy failures, one first question: Internal relations within the organisation promoting the intervention
16.3.1. Individual motivations, organisation objectives and public interest
16.3.2. Once again on information
16.3.3. A critical reflection on these first sources of failure
16.4. Industrial policy failures, a second question: External relations outside the organisation promoting intervention
16.4.1. Asymmetries between citizens and government
16.4.2. Asymmetries between government and policy targets
16.5. Industrial policy failures, a third question: Relations between government and the interests of stakeholders
16.5.1. Governments and the risk of capture
16.5.2. Rent-seeking
16.6. Beyond failures
16.6.1. Industrial policy supply
16.6.2. A final reflection on the relationship between supply and demand for policies
■ Summary
■ Exercises and food for thought
References
Index
List of boxes

See also

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