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Innovation, governance, and capabilities: implications for competition policy

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  • David J Teece

Abstract

Oliver Williamson’s contributions to many subfields of economics are salutary. However, he was recognized by the Nobel Laureate Committee primarily for his work on the boundaries (scale and scope) of the firm. This tribute endeavors to marry Williamson’s transaction cost economics with a capabilities framework to obtain new insights into how the scope and scale of technology companies influence their competitive performance in today’s digital economy. The role of big data and learning are highlighted. Strong implications for competition policy, and for management, emerge from the fusion of the two frameworks. Such fusion yields a more granular view of management and policy issues but requires the policy analyst to understand not just industrial economics but also the technology management literature which also has useful insights for competition policy and regulatory professionals.

Suggested Citation

  • David J Teece, 2020. "Innovation, governance, and capabilities: implications for competition policy," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 29(5), pages 1075-1099.
    • Handle: RePEc:oup:indcch:v:29:y:2020:i:5:p:1075-1099.
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    File URL: http://hdl.handle.net/10.1093/icc/dtaa043
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    Cited by:

    1. Mariani, Marcello M. & Machado, Isa & Magrelli, Vittoria & Dwivedi, Yogesh K., 2023. "Artificial intelligence in innovation research: A systematic review, conceptual framework, and future research directions," Technovation, Elsevier, vol. 122(C).
    2. Nicolas Petit & David J Teece, 2021. "Innovating Big Tech firms and competition policy: favoring dynamic over static competition [Patterns of industrial innovation]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 30(5), pages 1168-1198.

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