By systematically confronting theoretical models with econometric data, a leading macroeconomist and microeconomist present a unified and coherent view how and when productivity gains and economic growth are aided or hindered by competition policy.

This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that reduced entry time and costs. Using the staggered implementation of the policy across the Portuguese municipalities, we find that the reform increased local entry and employment by, respectively, 25% and 4.8% per year in its first four years of implementation. Moreover, around 60% of the increase in employment came from incumbent firms expanding their size, with most of the rise occurring among the most productive firms. Standard models of firm dynamics, which assume a constant elasticity of substitution, are inconsistent with the expansionary and heterogeneous response across incumbent firms. We show that in a model with heterogeneous firms and variable markups the most productive firms face a lower demand elasticity and expand their employment in response to increased entry.

Hunt convincingly demonstrates that competition is not about dividing up limited resources but about creating more resources and thus competition is pro-society. This truly interdisciplinary book successfully develops a general theory of competition which is rich in explanatory breadth and depth. Consequently, executives and entrepreneuers, management consultants, public makers, and scholars and students in economics, law, political science, and business should read and study this book. —Robert F. Lusch, University of Oklahoma This book develops a new theory of competition. This theory – labeled "resource-advantage theory" – stems from no single research tradition, but draws on several different traditions in economics, management, marketing, and sociology. In this ground-breaking volume, Shelby Hunt articulates R-A theory, uses the theory to explain and predict economic phenomena, and shows how (and why) it explains and predicts such phenomena.

Growth and competitive advantage are about effective positioning. Building effective positioning is challenging today for firms facing new and stronger competition, volatile and uncertain markets, and shifting customer desires and demands. The 3-Circle Model facilitates speed of understanding and action by focusing attention on the most critical strategy concepts in this uncertain environment. Growth strategy emerges in the model from systematically addressing four key strategy directives in a deep and disciplined way: define, build, and defend the unique value you create for customers; correct, eliminate, or reveal value that is failing customers or of which they're not aware; potentially neutralize the unique value created for customers by competitors; explore and exploit new growth opportunities through deep understanding of customers' unmet needs.

Sustainable economic development has played a major role in the decline of global poverty in the past two decades. There is no doubt that competitive markets are key drivers of economic growth and productivity. They are also valuable channels for consumer welfare. Competition policy is a powerful tool for complementing efforts to alleviate poverty and bring about shared prosperity. An effective competition policy involves measures that enable contestability and firm entry and rivalry, while ensuring the enforcement of antitrust laws and state aid control. Governments from emerging and developing economies are increasingly requesting pragmatic solutions for effective competition policy implementation, as well as recommendations for pro-competitive sectoral policies. A Step Ahead: Competition Policy for Shared Prosperity and Inclusive Growth puts forward a research agenda that advocates the importance of market competition, effective market regulation, and competition policies for achieving inclusive growth and shared prosperity in emerging and developing economies. It is the result of a global partnership and shared commitment between the World Bank Group and the Organisation for Economic Co-operation and Development (OECD). Part I of the book brings together existing empirical evidence on the benefits of competition for household welfare. It covers the elimination of anticompetitive practices and regulations that restrict competition in key markets and highlights the effects of competition on small producers and employment. Part II of the book focuses on the distributional effects of competition policies and how enforcement can be better aligned with shared prosperity goals.

Argues that competition is inherently destructive and that competitive behavior is culturally induced, counter-productive, and causes anxiety, selfishness, self-doubt, and poor communication.

Now available in paperback, with an all new Reader's guide, The New York Times and Business Week bestseller Co-opetition revolutionized the game of business. With over 40,000 copies sold and now in its 9th printing, Co-opetition is a business strategy that goes beyond the old rules of competition and cooperation to combine the advantages of both. Co-opetition is a pioneering, high profit means of leveraging business relationships. Intel, Nintendo, American Express, NutraSweet, American Airlines, and dozens of other companies have been using the strategies of co-opetition to change the game of business to their benefit. Formulating strategies based on game theory, authors Brandenburger and Nalebuff created a book that's insightful and instructive for managers eager to move their companies into a new mind set.