Awarded the 10th Frontiers of Knowledge Award in Economics, Finance and Management, economist Timothy Bresnahan explains in this interview how competition in technology markets and innovation determine industrial dynamics in rapidly evolving sectors. Drawing on his pioneering work in industrial economics and the analysis of high-tech industries, Bresnahan details how companies compete through product improvements, digital platforms, and network effects, and why these factors profoundly alter market structure. His insights highlight the importance of understanding the interplay between technology, competition, and regulation to design policies that foster innovation and prevent anticompetitive practices.
The BBVA Foundation Frontiers of Knowledge Award in the Economics, Finance and Management category goes, in this tenth edition, to Timothy Bresnahan, Ariel Pakes and Robert Porter
Awarded the 10th Frontiers of Knowledge Award in Economics, Finance and Management, economist Timothy Bresnahan explains in this interview how competition in technology markets and innovation determine industrial dynamics in rapidly evolving sectors. Drawing on his pioneering work in industrial economics and the analysis of high-tech industries, Bresnahan details how companies compete through product improvements, digital platforms, and network effects, and why these factors profoundly alter market structure. His insights highlight the importance of understanding the interplay between technology, competition, and regulation to design policies that foster innovation and prevent anticompetitive practices.
The BBVA Foundation Frontiers of Knowledge Award in the Economics, Finance and Management category goes, in this tenth edition, to Timothy Bresnahan, Ariel Pakes and Robert Porter for founding and shaping the field of empirical industrial organization, a branch of economics that has developed fundamental techniques to measure market power (understood as the ability of a firm to control prices in a given industry). “Motivated by important and policy-relevant questions in applied economics,” remarks the jury in its citation, “they developed methodologies that had a significant and long-lasting impact on subsequent work in industrial organization as well as other applied fields.”
00:00 Introduction
00:05 Could you explain the fundamental contributions your work has made to the field of Empirical Industrial Organization?
00:33 Could you provide examples of applications your work has had in specific industries, such as the automotive industry?
01:06 The jury has highlighted your contributions to the study of technology and entrepreneurship. Could you talk about your work in this area?
01:48 What are you currently working on, and how do you see the future of the field of Empirical Industrial Organization?
