Network effects occur in markets when consumers receive mutual benefits from consuming the same good. Markets with network effects that have generated particular policy concerns include the information and communications technology and electronics (ICTE) industries. Many economists and legal...

Network effects occur in markets when consumers receive mutual benefits from consuming the same good. Markets with network effects that have generated policy concerns particularly include the information and communications technology (ICT) industries. Many economists and legal scholars argue...

This article extends antitrust analysis to two-sided markets in which a virtual monopolist competes with local bricks-and-mortar dealers. The discussion examines the market power of an Internet market maker as well as an Internet matchmaker. The analysis shows that equilibrium in a two-sided...

We show that in many applied economic models, it is possible to reduce the dimensionality of the space of actions to what we call sufficient decisions. We find that for monopoly and oligopoly in multi-sided markets and multi-product markets, the market equilibrium can be transformed into an...