英文【ITIF】对反垄断的再思考：动态竞争政策的案例

itif.org Rethinking Antitrust: The Case for Dynamic Competition Policy GIORGIO CASTIGLIA | OCTOBER 2025 Antitrust policy relies too heavily on static models that focus on prices and market shares while treating innovation as external. A dynamic approach that views competition as a process of innovation is better suited to guiding policy in today’s technology-driven economy. KEY TAKEAWAYS  Static models treat competition as equilibrium, judging markets mainly by prices and market shares. This overlooks innovation and leads to flawed conclusions about long-term welfare.  Dynamic competition sees rivalry as an ongoing process of innovation and adaptation. It better captures how firms invest and compete in modern, fast-changing markets.  Hayek viewed competition as a discovery process wherein entrepreneurs test ideas and prices guide coordination. This constant search fuels efficiency and adaptation.  Schumpeter highlighted creative destruction, in which new products and methods displace the old. Innovation—even by large firms—drives growth and renewal.  High profits and market concentration reflect success at innovating and scaling, not anticompetitive harm. In dynamic markets, size can support greater investment and R&D.  Antitrust should assess whether firms innovate and reinvest, not just whether they are big or profitable. A dynamic lens ensures that policy supports growth and progress. INFORMATION TECHNOLOGY & INNOVATION FOUNDATION | OCTOBER 2025 PAGE 2 CONTENTS Key Takeaways ................................................................................................................... 1 Introduction ....................................................................................................................... 3 Static vs. Dynamic Competition ........................................................................................... 4 Static Models and Static Competition ............................................................................... 5 Dynamic Models and Dynamic Competition ....................................................................... 5 Hayek’s Model of Dynamic Competition ................................................................................ 7 Competition as a Discovery Procedure ............................................................................... 7 Changing Market Structure Is Part of the Discovery Process ................................................ 8 Entrepreneurs Navigate Disequilibrium.............................................................................. 8 Schumpeterian Competition ................................................................................................ 9 Innovation Competition and Creative Destruction................................................................ 9 Market Structure and Incentives to Innovate .................................................................... 10 Schumpeter’s Heroic Spirit of Entrepreneurship ..