Abstract
The research “Multifactorial Assessment of Monopolisation Trends through the Analytical Prism of Price-Based Market Power and Business Cycle Fluctuation Quantitative Evaluation” provides a multi-perspective in-depth analysis of the nature, the occurrence sources, the development features and the conjuncture specifics of the modern process of monopolisation, assessed through the prism of coherent and multifactorial econometrical modelling. The main scope of the aforementioned research is devoted to further developing and significantly enhancing the previously introduced monopolisation trend quantitative analysis methodologies, developed by the Authors, (Skoruks et al, 2015a,b,c) through simultaneous consideration of the broader context of price volatility and the relevant external factors, existing at various stages of business cycle spiral development, which affect the conduct of internal economic processes within a defined relevant market. The conducted research provides an example of modern econometrical method application within a unified framework of market competition environment analysis for the purpose of conducting a quantitative monopolisation trend evaluation on a relevant market level, while simultaneously considering the business cycles-induced effects on pricing strategies, implemented by the supply-side market actors. The research results may be defined as a system of complex outcomes, which enable the taking of the next constituent step in monopolisation trend detecting, quantification and evaluation, while simultaneously developing an innovative indicator, which had proven to be highly complementary with, while remaining functionally independent of, the analytical systems, used in Authors’ previously developed methodologies, thus creating a positive synergetic effect in terms of the enhancing the functionality, implementation efficiency and outcome transparency of the conducted empirical research. The achieved level of methodological complementarity enables the possibility of establishing a unified approach to monopolisation phenomenon’s analysis and a holistic interpretation of its generated outcomes, thus creating common ground in terms of market inquiry conduction and positively contributing to generating an analytical consensus between both private market entities and public bodies in terms of business/investment activity strategic planning of the former becoming universally compliant with the regulatory action/intervention policy proportionality analysis of the latter. DOI: http://dx.doi.org/10.5755/j01.ee.27.5.14921
Highlights
The modern economic theory as any dynamic and constantly developing scientific field had undergone and still finds itself engaged in a series of productive discussions on various topics, ranging from microeconomic incrementalism of industrial organisation (Tirole, 1988) to international outlook of innovation-based inclusive macroeconomic growth (Daude et al, 2016), which elaborate, enhance and occasionally question the established conformity of existing research paradigms
The hypothesis of the current research may be defined as follows: monopolisation trends in modern open market economies are driven by excessive individual market power concentration, they may be detected and quantitatively measured by evaluating a defined competition environment through analysis of the relevant price levels, while taking into account the possible differences in generated quantitative results qualitative interpretations, depending on the broader macroeconomic conditions, reflected by shifting between various stages of the empirical international business cycle
Monopolisation trends are most likely to emerge in situations of disproportionate individual market power distribution between supply-side market actors, engaged in economic activities within a defined relevant market and mutually competing, while implementing price-related engagement strategies;
Summary
The modern economic theory as any dynamic and constantly developing scientific field had undergone and still finds itself engaged in a series of productive discussions on various topics, ranging from microeconomic incrementalism of industrial organisation (Tirole, 1988) to international outlook of innovation-based inclusive macroeconomic growth (Daude et al, 2016), which elaborate, enhance and occasionally question the established conformity of existing research paradigms. The hypothesis of the current research may be defined as follows: monopolisation trends in modern open market economies are driven by excessive individual market power concentration, they may be detected and quantitatively measured by evaluating a defined competition environment through analysis of the relevant price levels, while taking into account the possible differences in generated quantitative results qualitative interpretations, depending on the broader macroeconomic conditions, reflected by shifting between various stages of the empirical international business cycle. The scientific object of the current research may be defined as market power, perceived as an economic phenomenon, which is affected by both internal and external conjuncture qualities of the analysed competitive environment, namely, the medial market price and the maturity/development level of the relevant business cycle. The following assessment methods had been used in order to conduct the current research: monographic analysis, econometrical modelling, mathematical criteria analysis, quantitative economic pattern analysis, qualitative indicator value range construction and consequential input data analysis
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
