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OverviewEconomic theorizing suggests that firms can acquire and maintain market dominance in a number of ways. Some economists argue that firms attain dominance only by being relatively more efficient than their rivals and retain leadership only by staying more efficient than their rivals. Others argue that efficiency is not the only source of dominance and that leaders can retain preeminence even if they are inefficient. This book attempts to sort out the relevant points by exploring market dominance experienced by firms in ten different industries. It examines factors that led to acquiring, holding and in some cases losing dominance and asks whether those factors were consistent with economic efficiency. The results suggest that both schools make valid points. Generally, firms that rose to dominance were market pioneers and did so using economically-efficient strategies. In some cases, however, firms rose to dominance using inefficient strategies. Once they reached their ascendance, these firms engaged in a number of strategies, some efficient, others inefficient, to maintain their dominant positions. Most of the firms examined eventually lost their dominance. In some cases, the market evolved too rapidly for any firm to maintain control. In other cases the fall was ushered along by federal antitrust and trade policy. In still other industries, it was due either to poor management or the firm becoming inefficient. However, even when some of these dominant firms became inefficient, the market system worked only very slowly to remove them. The analysis has specific implications for antitrust policies toward dominant firms. Because the sources and consequences of dominance can be varied, neither a ^Ilaissez faire^R policy in favor nor a ^Iper se^R injunction against dominance is called for. A reasoned approach, tempered by underlying market conditions, is warranted toward the strategies used to acquire and maintain dominance. Full Product DetailsAuthor: David RosenbaumPublisher: Bloomsbury Publishing Plc Imprint: Praeger Publishers Inc Dimensions: Width: 15.20cm , Height: 1.90cm , Length: 22.90cm Weight: 0.585kg ISBN: 9780275956042ISBN 10: 0275956040 Pages: 280 Publication Date: 26 May 1998 Recommended Age: From 7 to 17 years Audience: College/higher education , Professional and scholarly , Undergraduate , Postgraduate, Research & Scholarly Format: Hardback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of ContentsIntroduction by David I. Rosenbaum The Standard Oil Trust by Leslie D. Manns Tobacco: Predation and Persistent Market Power by Walter Adams and James W. Brock Alcoa and the U.S. Aluminum Industry by Hayley Chouinard and David I. Rosenbaum Dow Chemical and the Magnesium Industry by Marvin B. Lieberman Eastman Film Industry: Picture Imperfect? by Vrinda Kadiyali The Rise and Fall of Dominant Firms in the U.S. Automobile Industry: A Tale Twice Told by Lawrence J. White The Rise and Fall of IBM by Donald E. Waldman Microsoft by Rochelle Ruffer and Donald E. Waldman Blue Cross: Health Insurance by Erwin A. Blackstone and Joseph P. Fuhr AT&T's Grand Design for Dominance in the Global Information Age by Harry M. Trebing and Maurice Estabrooks Conclusion by David I. RosenbaumReviews?These concise and brief case studies provide cogent summaries of the rise and fall of very big business within a market context....Althogether, this is an interesting collection of essays which suggests that dominant firms should be responsive to reasonable rules of competition which, left unenforced by the invisible hand of the domestic market, should be exacted by foreign competitors or promulgated by government policy and law.?-H-Net Reviews in the Humanities & Social Sciences Author InformationDAVID I. ROSENBAUM is Professor of Economics at the University of Nebraska-Lincoln. He is the author of numerous articles on industrial organization, market evolution, and strategic competition. Tab Content 6Author Website:Countries AvailableAll regions |
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