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2019 | OriginalPaper | Chapter

5. Too Big

Author : Li Way Lee

Published in: Industrial Organization

Publisher: Springer International Publishing

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Abstract

As managers pursue market share, they find that the boundaries of their markets keep expanding at the same time. They see in The Magic Mirror that they can approach, but never reach, 100% market share. This is the reason why their appetite for growth is insatiable and why their firms become too big. In this chapter, I demonstrate their relentless pursuit of size. I show that managers prefer buying capacity (through mergers and acquisitions) to making capacity (through internal growth). Either way, their firms become big.

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previous chapter The Manager’s Mind
next chapter Too Complex
Appendix
Available only for authorised users
Literature
Hughes, Chris. 2019. It’s Time to Break Up Facebook. New York Times, May 9.
Simon, Herbert. 1982. Behavioral Economics and Business Organization. Volume 2 of Models of Bounded Rationality. Cambridge, MA: The MIT Press.
Wu, Tim. 2018. The Curse of Bigness: Antitrust in the New Gilded Ag. New York, NY: Columbia Global Reports.
Wu, Tim, and Stuart A. Thompson. 2019. The Roots of Big Tech Run Disturbingly Deep. New York Times, June 7.
Metadata
Title
Too Big
Author
Li Way Lee
Copyright Year
2019
Book
Industrial Organization

Print ISBN: 978-3-030-26236-5

Electronic ISBN: 978-3-030-26237-2

Copyright Year: 2019

DOI
https://doi.org/10.1007/978-3-030-26237-2_5