Institution(s): School of Economics and Finance, Hong Kong Institute of Economics and Business Strategy

Date: Feb 22, 2001 (Thursday)

Time: 05:30 pm - 06:30 pm

Venue: Rayson Huang Theatre, The University of Hong Kong, Pokfulam Road, Hong Kong

Medium: English

Fee: Free of Charge

Abstract:

The American high tech economy has thrived by replacing older sources of rents with new ones, rather than by protecting and preserving existing firms and industries. Public policy has sought to accommodate, rather than to direct, this process. This is the broad background to the Microsoft case, in which a long standing monopolist, fearful of innovative technologies and unable to control them by competition on the merits, blocked their widespread distribution by a number of anticompetitive acts. The government's proposed remedy lets markets choose between new technology and old, consistent with American policy in this era over the long haul.

Timothy Bresnahan is Professor of Economics at Stanford University and Gordon and Betty Moore Senior Fellow at Stanford Institute for Economic Policy Research (SIEPR). He is Director of the Center for Research in Employment and Economic Growth in SIEPR. Previously, he has served as Chief Economist of the Antitrust Division of the United States Department of Justice and head of the Information Technology in Use research program and of the Stanford Computer Industry Project. His research interests lie in the economics of industry, especially of high-technology industry. Recently, he has been writing on the competition and the structure of the computer and software industries, on the impact of information technology on labor demand and income distribution, and on the implications of entrepreneurship in high tech industries for growth and change. His recent writings on these and other subjects and further contact information can be found at his home page http://www.stanford.edu/~tbres/.

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Prof. Timothy Bresnahan
Prof. Y.C. Richard Wong welcoming the guests