Organización industrial para la estrategia empresarial

índice
Prefacio                                                                                                                                                                                                                                                                        XV Los autores                                                                                                                                                                                                                                                               XX agradecimientos                                                                                                                                                                                                                                               XXi
Parte i | MicroeconoMía Para la organización industrial                                                           2 capítulo 1 | elementos de microeconomía para la organización industrial                                                                                 4
1  introducción                                                                                                                                                                                                                                                                                        4
2  escasez e incentivos                                                                                                                                                                                                                                                                      4
3  el costo económico                                                                                                                                                                                                                                                                       5
4  La asignación de recursos: precios y competencia                                                                                                                                                                                           6
5  La demanda y la oferta: un modelo para determinar los precios                                                                                                                                                       8
5 1 La demanda                                                                                                                                                                                                                                                                             8 5 2 La oferta                                                                                                                                                                                                                                                                                   19
5 3 equilibrio de mercado                                                                                                                                                                                                                                                 25 6  Síntesis                                                                                                                                                                                                                                                                                                    31 ejercicios                                                                                                                                                                                                                                                                                                           33
Parte ii | ÁMBito de la eMPresa, goBierno corPoratiVo Y estructura de Mercado        34 capítulo 2 | naturaleza y ámbito de la firma                                                                                                                                                                 36
1  introducción                                                                                                                                                                                                                                                                                     36
2  naturaleza de la empresa                                                                                                                                                                                                                                                     37
2 1 Límites a las empresas: razones y extensión de la integración vertical                                                                                                                           38
2 2 ahorro de costos triviales                                                                                                                                                                                                                                        39
2 3 costos de transacción no triviales                                                                                                                                                                                                                   41
3  el tamaño de la empresa                                                                                                                                                                                                                                                       44
4  el objetivo de la empresa                                                                                                                                                                                                                                                      46
4 1 La crítica a la teoría de agencia                                                                                                                                                                                                                            48
5  contratos como una forma de resolver el problema de agencia                                                                                                                                                     50
5 1 contrato con un agente y un principal                                                                                                                                                                                                       50
5 2 Problema de agencia en equipos                                                                                                                                                                                                                       54 6  Síntesis                                                                                                                                                                                                                                                                                                    55 ejercicios                                                                                                                                                                                                                                                                                                           57
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capítulo 3 | gobierno y control corporativo                                                                                                                                                                58
1  introducción                                                                                                                                                                                                                                                                                     58 2  control corporativo y naturaleza de la empresa                                                                                                                                                                                             58 3  Tipos de gobierno corporativo                                                                                                                                                                                                                                        59
4  estructuras de control minoritario                                                                                                                                                                                                                              61
4 1 control piramidal                                                                                                                                                                                                                                                            62
4 2 control cruzado                                                                                                                                                                                                                                                                62
4 3 acciones de distinta clase                                                                                                                                                                                                                                        62
5  estructura de propiedad: factor clave del gobierno corporativo                                                                                                                                                     63
5 1 Tamaño patrimonial eficiente de la empresa                                                                                                                                                                                         65
5 2 control potencial, riesgo específico y competencia                                                                                                                                                                        66
5 3 regulación                                                                                                                                                                                                                                                                              66
5 4 el caso de los grupos económicos                                                                                                                                                                                                                   69
6  Tomas y valor del control                                                                                                                                                                                                                                                     72
6 1 Fusiones y adquisiciones como mecanismos de control                                                                                                                                                            72
6 2 Bloqueo a las adquisiciones                                                                                                                                                                                                                                    73 7  Síntesis                                                                                                                                                                                                                                                                                                    75 ejercicios                                                                                                                                                                                                                                                                                                           77
capítulo 4 | estructura de mercado y competencia                                                                                                                                                 78
1  introducción                                                                                                                                                                                                                                                                                     78
2  distintas visiones sobre la organización industrial                                                                                                                                                                                        79
2 1 Paradigma estructura-conducta-desempeño                                                                                                                                                                                       79
2 2 enfoque de eficiencia o la nueva relación ecd                                                                                                                                                                                    80
3  Mercado, estructura y competencia                                                                                                                                                                                                                          81
3 1 definición de mercado                                                                                                                                                                                                                                               83
3 2 número, distribución y concentración del mercado                                                                                                                                                                     88
3 3 La tecnología como determinante de la estructura                                                                                                                                                                        91
3 4 desafiabilidad de mercado y desempeño                                                                                                                                                                                                 95
4  Síntesis                                                                                                                                                                                                                                                                                                    96 ejercicios                                                                                                                                                                                                                                                                                                           97
capítulo 5 | Barreras a la entrada y a la salida y estrategia competitiva                                                                                      98
1  introducción                                                                                                                                                                                                                                                                                     98
2  Tipos de barreras a la entrada                                                                                                                                                                                                                                          99
2 1 Barreras legales                                                                                                                                                                                                                                                                   99 2 2 Barreras naturales                                                                                                                                                                                                                                                            99 2 3 Barreras estratégicas                                                                                                                                                                                                                                                   101
2 4 Barreras a la entrada e irreversibilidad de las inversiones                                                                                                                                                          111
3  Barreras a la salida                                                                                                                                                                                                                                                                      111 4  Síntesis                                                                                                                                                                                                                                                                                                  112 ejercicios                                                                                                                                                                                                                                                                                                         113
Parte iii | Políticas de Precio e incertiduMBre                                                                                    114 capítulo 6 | Política de precios y segmentación del mercado                                                                                                                      116
1  introducción                                                                                                                                                                                                                                                                                  116
2  esquema conceptual                                                                                                                                                                                                                                                              116
2 1 discriminación desde la óptica de la organización industrial                                                                                                                                               117 2 2 el caso estándar: discriminación monopólica bajo perfecta información                                                                                                               118
2 3 arbitraje y discriminación de precios                                                                                                                                                                                                         122
3  estrategias de precios                                                                                                                                                                                                                                                            125
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3 1 Prácticas hacia consumidores tipo                                                                                                                                                                                                               125
3 2 Prácticas para la segmentación de mercados con información imperfecta                                                                                                          129
4  Síntesis                                                                                                                                                                                                                                                                                                 135 ejercicios                                                                                                                                                                                                                                                                                                        136
capítulo 7 | administración de ingresos y política de precios                                                                                                                    138
1  introducción                                                                                                                                                                                                                                                                                  138
2  La administración de ingresos y la competencia                                                                                                                                                                                          139 2 1 La inversión y eficiencia                                                                                                                                                                                                                                           139
2 2 determinación y uso de capacidad                                                                                                                                                                                                             140
3  aplicación de ai a la industria aérea                                                                                                                                                                                                                       143
3 1 razones de la tecnología: capacidad rígida                                                                                                                                                                                          144
3 2 demanda fluctuante, incierta y compuesta por distintos grupos                                                                                                                                  144
3 3 Valoración por la seguridad                                                                                                                                                                                                                                144
3 4 Uso práctico                                                                                                                                                                                                                                                                      145
4  administración de ingresos y bienes complementarios                                                                                                                                                                       148
5  Síntesis                                                                                                                                                                                                                                                                                                 150 ejercicios                                                                                                                                                                                                                                                                                                         151
capítulo 8 | Las licitaciones o subastas                                                                                                                                                                                 152
1  introducción                                                                                                                                                                                                                                                                                  152
2  La revelación de la valoración y los compromisos                                                                                                                                                                                      153
2 1 equilibrio bajo monopolio bilateral                                                                                                                                                                                                              154
3  Tipos de licitación                                                                                                                                                                                                                                                                    155
3 1 Licitación inglesa o de precio ascendente                                                                                                                                                                                            155 3 2 Licitación holandesa o de precio descendente                                                                                                                                                                                 155
3 3 Licitación de sobre cerrado de primer precio                                                                                                                                                                                   156
3 4 Licitación de sobre cerrado de segundo precio (licitación de Vickrey)                                                                                                                      156
4  elementos clave en la modelación de las licitaciones                                                                                                                                                                              156
4 1 el modelo de referencia                                                                                                                                                                                                                                           157
5  Problemas asociados a las licitaciones                                                                                                                                                                                                                   160
5 1 Los riesgos de la corrupción                                                                                                                                                                                                                              160
5 2 Maldición del ganador                                                                                                                                                                                                                                             161 6  Síntesis                                                                                                                                                                                                                                                                                                 162 ejercicios                                                                                                                                                                                                                                                                                                        163
capítulo 9 | información incompleta, selección adversa y riesgo moral                                                                                      164
1  introducción                                                                                                                                                                                                                                                                                  164
2  elementos de incertidumbre                                                                                                                                                                                                                                          165
2 1 el modelo básico de incertidumbre                                                                                                                                                                                                             165
2 2 equivalente cierto y seguros                                                                                                                                                                                                                               167
3  Políticas de empresas en contextos de incertidumbre                                                                                                                                                                           168
3 1 Selección adversa                                                                                                                                                                                                                                                          168
3 2 riesgo moral                                                                                                                                                                                                                                                                       174 4  Síntesis                                                                                                                                                                                                                                                                                                 178 ejercicios                                                                                                                                                                                                                                                                                                        179
Parte iV | costos de caMBio, PlataForMas Y restricciones Verticales                                 180 capítulo 10 | costos de cambio y políticas de precio                                                                                                                                            182
1  introducción                                                                                                                                                                                                                                                                                  182 2  Tipos de costos de cambio                                                                                                                                                                                                                                              182
2 1 necesidad de compatibilidad con el equipo existente                                                                                                                                                              183
2 2 costos de transacción de cambiar de oferente                                                                                                                                                                                183 2 3 costo de aprendizaje de uso                                                                                                                                                                                                                              183 2 4 incertidumbre debido a desconocimiento de la calidad                                                                                                                                                         183 2 5 Premios por consumo repetido                                                                                                                                                                                                                      183
2 6 efectos psicológicos                                                                                                                                                                                                                                                    184
3  efectos de costos de cambio sobre la competencia                                                                                                                                                                                 187
3 1 caso en que consumidores ya tienen costos de cambio                                                                                                                                                       187
3 2 consumidores sin costos de cambio: competencia por adquirir clientes                                                                                                                189
4  costos de cambio y entrada                                                                                                                                                                                                                                           192
4 1 entrada a pequeña escala                                                                                                                                                                                                                                      192 4 2 entrada a gran escala                                                                                                                                                                                                                                                 193
4 3 evidencia de costos de cambio y entrada                                                                                                                                                                                              195 5  Síntesis                                                                                                                                                                                                                                                                                                 197 ejercicios                                                                                                                                                                                                                                                                                                        199
capítulo 11 | estrategias de negocios basadas en plataformas                                                                                                                200
1  introducción                                                                                                                                                                                                                                                                                  200
2  ejemplos de plataformas de dos o más lados                                                                                                                                                                                                 201 3  externalidades directas e indirectas de red                                                                                                                                                                                                       202
4  políticas de precios aplicables en plataformas                                                                                                                                                                                               205
4 1 Precio por uso o por membrecía                                                                                                                                                                                                                   208
5  Multihoming y competencia                                                                                                                                                                                                                                           209 6  Plataformas de múltiples lados y estructura de mercado                                                                                                                                                                  210
7  Lock-in y costos de cambio en plataformas                                                                                                                                                                                                       211 8  comentarios de análisis de bienestar en plataformas                                                                                                                                                                              211
9  Síntesis                                                                                                                                                                                                                                                                                                 212 ejercicios                                                                                                                                                                                                                                                                                                        213
capítulo 12 | control vertical y estrategia competitiva                                                                                                                                  214
1  introducción                                                                                                                                                                                                                                                                                  214 2  desalineamiento de objetivos                                                                                                                                                                                                                                       215 3  el problema del doble margen                                                                                                                                                                                                                                      216
4  Fijación de precios de reventa                                                                                                                                                                                                                                       217 4 1 Fijación de precios máximos de reventa (rPM)                                                                                                                                                                               218 4 2 Fijación de precios mínimos de reventa                                                                                                                                                                                                  219
4 3 el modelo de Klein y Murphy                                                                                                                                                                                                                            222 5  Franquicias                                                                                                                                                                                                                                                                                       224 6  distribución exclusiva                                                                                                                                                                                                                                                           225 7  restricciones territoriales                                                                                                                                                                                                                                                   226 8  análisis cuando hay un proveedor y más de un distribuidor                                                                                                                                                           227
9  Síntesis                                                                                                                                                                                                                                                                                                 230 ejercicios                                                                                                                                                                                                                                                                                                        231
Parte V | coMPortaMiento estratÉgico de las FirMas Y teoría de Juegos                          232 capítulo 13 | nociones básicas de teoría de juegos para la estrategia                                                                                             234
1  introducción                                                                                                                                                                                                                                                                                  234
2  Tipos de interdependencia entre las decisiones de las empresas                                                                                                                                                 236
3  Juegos simultáneos                                                                                                                                                                                                                                                                  237
3 1 Herramientas básicas                                                                                                                                                                                                                                                237 3 2 casos de juegos simultáneos con dilema del prisionero                                                                                                                                                          239 3 3 Solución para los juegos simultáneos                                                                                                                                                                                                         241
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4  Juegos secuenciales                                                                                                                                                                                                                                                                  243
5  Juegos secuenciales y simultáneos                                                                                                                                                                                                                             245 6  Síntesis                                                                                                                                                                                                                                                                                                 247 ejercicios                                                                                                                                                                                                                                                                                                        248 anexo del capítulo                                                                                                                                                                                                                                                                       250
1  definiciones y conceptos básicos de la teoría de juegos                                                                                                                                                                      250
1 1 definición completa de un juego                                                                                                                                                                                                                  250 1 2 Verificación de la lista                                                                                                                                                                                                                                               250
1 3 Solución para juegos simultáneos mediante estrategias dominadas y dominantes                                                                                       250
1 4 Juegos secuenciales de información completa                                                                                                                                                                                  256
1 5 Juegos secuenciales y equilibrio perfecto en subjuegos                                                                                                                                                            258 capítulo 14 | Modelos de oligopolio                                                                                                                                                                                      260
1  introducción                                                                                                                                                                                                                                                                                  260
2  Modelo de cournot                                                                                                                                                                                                                                                               260 3  Modelo de Stackelberg                                                                                                                                                                                                                                                        264 4  Modelo de Bertrand                                                                                                                                                                                                                                                               265 5  ¿cournot o Bertrand?                                                                                                                                                                                                                                                            267 6  Síntesis                                                                                                                                                                                                                                                                                                 268 ejercicios                                                                                                                                                                                                                                                                                                        269
capítulo 15 | Firmas dominantes                                                                                                                                                                                                 270
1  introducción                                                                                                                                                                                                                                                                                  270 2  Teoría de la empresa dominante y liderazgo en precios                                                                                                                                                                       271
3  determinantes de la dominancia de una empresa                                                                                                                                                                                    272
3 1 nivel de inversiones irreversibles                                                                                                                                                                                                                    273
3 2 Ventajas de costo: economías de aprendizaje y economías de escala                                                                                                                         274
3 3 reputación                                                                                                                                                                                                                                                                          274 3 4 externalidades de red                                                                                                                                                                                                                                                274
3 5 Portafolio de múltiples productos                                                                                                                                                                                                                275
3 6 Barreras a la entrada                                                                                                                                                                                                                                                   276
3 7 estimulación y creación de demanda                                                                                                                                                                                                        277 4  Síntesis                                                                                                                                                                                                                                                                                                 278 ejercicios                                                                                                                                                                                                                                                                                                        279
capítulo 16 | estrategias de judo                                                                                                                                                                                                280
1  introducción                                                                                                                                                                                                                                                                                  280 2  estrategias de judo                                                                                                                                                                                                                                                                   281
3  restricción al cobro de un solo precio                                                                                                                                                                                                                  282
3 1 compromiso a permanecer pequeño                                                                                                                                                                                                       283 3 2 Un ejemplo de compromisos y estrategias de judo                                                                                                                                                                     284
3 3 diferencia en la disposición a pagar y estrategias de judo                                                                                                                                                      286 3 4 disciplina y castigo en las estrategias de judo                                                                                                                                                                                    288
3 5 riesgos en las estrategias de judo                                                                                                                                                                                                                  288 4  Síntesis                                                                                                                                                                                                                                                                                                 289 ejercicios                                                                                                                                                                                                                                                                                                        291
capítulo 17 | colusión y guerra de precios: dos caras de una moneda                                                                                            292
1  introducción                                                                                                                                                                                                                                                                                  292
2  colusión, interacción estratégica y guerra de precios                                                                                                                                                                             293 2 1 guerra de precios                                                                                                                                                                                                                                                         294
2 2 Mecanismos para inducir la cooperación en situaciones de dilema del prisionero                                                                                        296
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2 3 interacción repetida y reputación                                                                                                                                                                                                                 301
2 4 determinantes estructurales de la colusión                                                                                                                                                                                         304
3  Síntesis                                                                                                                                                                                                                                                                                                 309 ejercicios                                                                                                                                                                                                                                                                                                        310
capítulo 18 | contacto multimercado e incentivos para competir                                                                                                       312
1  introducción                                                                                                                                                                                                                                                                                  312
2  contacto multimercado y estrategia                                                                                                                                                                                                                      313
2 1 causas y consecuencias del contacto multimercado                                                                                                                                                                 313
2 2 contacto multimercado y líneas de productos                                                                                                                                                                               317
2 3 contacto multimercado y economías de ámbito                                                                                                                                                                          319
3  Síntesis                                                                                                                                                                                                                                                                                                 320 ejercicios                                                                                                                                                                                                                                                                                                        321
Parte Vi | coMProMisos estratÉgicos Y aPlicaciones                                                                    322 capítulo 19 | compromisos estratégicos y credibilidad                                                                                                                                       324
1  introducción                                                                                                                                                                                                                                                                                  324
2  decisiones estratégicas bajo la forma de compromisos                                                                                                                                                                        324
3  decisiones tácticas                                                                                                                                                                                                                                                                   328
4  Los riesgos de tomar compromisos estratégicos                                                                                                                                                                                         329
4 1 compromisos estratégicos versus flexibilidad                                                                                                                                                                                   329
4 2 Otros riesgos de los compromisos estratégicos                                                                                                                                                                               331
5  efectos directos y estratégicos de los compromisos                                                                                                                                                                                332
6  compromisos estratégicos e impacto en la competencia                                                                                                                                                                  335
6 1 compromisos que disminuyen la agresividad de la empresa que los realiza                                                                                                         336
6 2 compromisos que aumentan la agresividad de la empresa que los realiza                                                                                                            338 7  Sustitutos estratégicos y complementos estratégicos                                                                                                                                                                            340 8  efectos directo y estratégico de una inversión: análisis gráfico                                                                                                                                                       341 9  aplicación de compromisos estratégicos: compensación a ejecutivos                                                                                                                                  343
10  Síntesis                                                                                                                                                                                                                                                                                                 344 ejercicios                                                                                                                                                                                                                                                                                                        347 anexo del capítulo                                                                                                                                                                                                                                                                       349
1  análisis formal del efecto directo y estratégico de los compromisos estratégicos                                                                                                      349 capítulo 20 | decisiones de capacidad como compromisos                                                                                                                             350
1  introducción                                                                                                                                                                                                                                                                                  350
2  Motivaciones estratégicas para inversiones en sobrecapacidad                                                                                                                                                    351
2 1 condiciones para el éxito de las estrategias de expansión en sobrecapacidad                                                                                                   353 2 2 inversión en sobrecapacidad y desaliento a la entrada                                                                                                                                                              353
2 3 riesgos de las estrategias de inversión en sobrecapacidad                                                                                                                                                    355
3  Motivaciones estratégicas para la autolimitación y coordinación de capacidades                                                                                                     356
3 1 condiciones para el éxito de estrategias de autolimitación en capacidad                                                                                                              356
3 2 riesgos de las estrategias de autolimitación en capacidad                                                                                                                                                    357
4  Síntesis                                                                                                                                                                                                                                                                                                 358 ejercicios                                                                                                                                                                                                                                                                                                        359
capítulo 21 | Proliferación de productos como compromisos                                                                                                                  360
1  introducción                                                                                                                                                                                                                                                                                  360 2  demanda por variedad                                                                                                                                                                                                                                                        360
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3  Proliferación para impedir el crecimiento y la entrada de competidores                                                                                                                             362
3 1 Línea de variedad de productos y detenimiento de la entrada                                                                                                                                         363
4  costos de salida y proliferación de productos                                                                                                                                                                                               364
5  Otros objetivos estratégicos de la proliferación de productos                                                                                                                                                       366
6  Síntesis                                                                                                                                                                                                                                                                                                 369 ejercicios                                                                                                                                                                                                                                                                                                        371
capítulo 22 | Señalización y estrategia                                                                                                                                                                               372
1  introducción                                                                                                                                                                                                                                                                                  372 2  Señalización y estrategia                                                                                                                                                                                                                                                     373
3  Formalización de las señales                                                                                                                                                                                                                                            375 3 1 Un modelo básico de señales                                                                                                                                                                                                                            376
3 2 equilibrio en señalización                                                                                                                                                                                                                                      377 4  Síntesis                                                                                                                                                                                                                                                                                                 380 ejercicios                                                                                                                                                                                                                                                                                                        382
Parte Vii | regulación Y organización industrial                                                                          384 capítulo 23 | regulación de monopolios y política antimonopolios                                                                                                386
1  introducción                                                                                                                                                                                                                                                                                  386
2  Visión neoclásica de la teoría de la regulación                                                                                                                                                                                               386
2 1 Objetivo de la regulación                                                                                                                                                                                                                                      388
3  La crítica del public choice                                                                                                                                                                                                                                                 389
3 1 el tema institucional                                                                                                                                                                                                                                                   390
3 2 algunos problemas de la regulación                                                                                                                                                                                                         393
4  regulación de monopolios naturales                                                                                                                                                                                                                     393
4 1 criterios prácticos tradicionales de regulación de monopolios                                                                                                                                        395
4 2 competencia por comparación y empresa modelo                                                                                                                                                                    398
4 3 alternativas a la regulación directa                                                                                                                                                                                                              399
5  Políticas antimonopolios o procompetencia                                                                                                                                                                                                  402 5 1 Objetivo de la ley                                                                                                                                                                                                                                                          402
5 2 ¿Flexibilidad o reglas?                                                                                                                                                                                                                                                 404 6  Síntesis                                                                                                                                                                                                                                                                                                 405 ejercicios                                                                                                                                                                                                                                                                                                        407
capítulo 24 | regulación de conductas                                                                                                                                                                              408
1  introducción                                                                                                                                                                                                                                                                                  408 2  regulación de conductas (relaciones) verticales                                                                                                                                                                                          409 3  restricciones verticales y libre competencia                                                                                                                                                                                                    409
4  Tipos de restricciones verticales                                                                                                                                                                                                                                  410
4 1 Franchising                                                                                                                                                                                                                                                                           410
4 2 Fijación de precios de reventa (FPr)                                                                                                                                                                                                           410 4 3 Ventas atadas                                                                                                                                                                                                                                                                    413 4 4 Territorios exclusivos                                                                                                                                                                                                                                                 419
4 5 distribución exclusiva                                                                                                                                                                                                                                                419
5  regulación sobre conductas horizontales que pueden reducir la competencia                                                                                                            421
5 1 regulación a la colusión                                                                                                                                                                                                                                         421
5 2 discriminación monopólica de precios                                                                                                                                                                                                   426 6  Síntesis                                                                                                                                                                                                                                                                                                 428 ejercicios                                                                                                                                                                                                                                                                                                        429
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capítulo 25 | Precios depredatorios                                                                                                                                                                                          430
1  introducción                                                                                                                                                                                                                                                                                  430 2  Secuencia de depredación                                                                                                                                                                                                                                                430
3  debate sobre los precios depredatorios                                                                                                                                                                                                               431
3 1 crítica conceptual                                                                                                                                                                                                                                                        431
3 2 evaluación de la práctica                                                                                                                                                                                                                                       432
4  evidencia: ¿precios depredatorios o guerra de precios?                                                                                                                                                                         437
4 1 Telefonía de larga distancia                                                                                                                                                                                                                                  437
4 2 Mercado aéreo                                                                                                                                                                                                                                                                437 4 3 Laboratorios veterinarios                                                                                                                                                                                                                                       438
4 4 Jurisprudencia de depredación de precios en estados Unidos                                                                                                                                           440
5  Síntesis                                                                                                                                                                                                                                                                                                 442 ejercicios                                                                                                                                                                                                                                                                                                        443
capítulo 26 | regulación de estructuras                                                                                                                                                                          444
1  introducción                                                                                                                                                                                                                                                                                  444
2  integración horizontal                                                                                                                                                                                                                                                          444
2 1 integración horizontal y poder de mercado                                                                                                                                                                                        446 2 2 evolución en la regulación de las fusiones horizontales                                                                                                                                                            447
2 3 Barreras a la entrada e integración horizontal                                                                                                                                                                                     451
3  integración vertical                                                                                                                                                                                                                                                                  453
3 1 integración vertical sin regulación                                                                                                                                                                                                                453
3 2 incentivos para la integración vertical con regulación                                                                                                                                                               454
4  desafíos para la práctica de regulación de fusiones                                                                                                                                                                                  455
4 1 integración de emisores de tarjetas de crédito                                                                                                                                                                                 455 4 2 integración vertical en electricidad: enersis y endesa                                                                                                                                                                 456
4 3 concentración en seguridad                                                                                                                                                                                                                              458
5  aplicación de regulación de estructuras o conductas: competencia en infraestructura o desagregación en
telecomunicaciones                                                                                                                                                                                                                                                                459 5 1 competencia en infraestructura                                                                                                                                                                                                                    460
5 2 desagregación                                                                                                                                                                                                                                                                 461 6  Síntesis                                                                                                                                                                                                                                                                                                 462 ejercicios                                                                                                                                                                                                                                                                                                        463 glosario                                                                                                                                                                                                                                                                     465 Índice analítico                                                                                                                                                                                                                                                  471
Bibliografía                                                                                                                                                                                                                                                             477