The Economics of Predation: What Drives Pricing When There Is Learning-by-Doing?
在一个内生竞争优势和行业结构的现代产业动态框架中，正式刻画了掠夺性定价，并以干中学为例，通过分解均衡定价条件，区分掠夺性定价与单纯的学习曲线效率竞争，发现迫使企业忽略掠夺性激励会消除类似掠夺的行为，但也消除了相当程度的市场竞争。
We formally characterize predatory pricing in a modern industry-dynamics framework that endogenizes competitive advantage and industry structure. As an illustrative example we focus on learning-by-doing. To disentangle predatory pricing from mere competition for efficiency on a learning curve we decompose the equilibrium pricing condition. We show that forcing firms to ignore the predatory incentives in setting their prices can have a large impact and that this impact stems from eliminating equilibria with predation-like behavior. Along with the predation-like behavior, however, a fair amount of competition for the market is eliminated.