Download or read book Loyalty Discounts Exclusive Dealing and Bundling written by Assaf Eilat and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The article reviews loyalty rebates, target rebates, exclusive dealing, and bundling, and argues that these are analogous practices that deserve similar competitive analyses and rules. In particular, in the case of all of these practices, at least some marginal units are typically sold below cost. The article shows that the analyses and rules that should apply to all of these practices ought not to depend on their labels, but rather on the monopoly power of the supplier engaged in the practice; whether, in the particular case, exclusion is costless or almost costless; the size of the sanction that the buyer suffers from being disloyal to the monopolist, and whether the sanction makes it impossible for the monopolist's as efficient rivals to compete for the buyer; the degree of market foreclosure, including its effective duration; the presence or absence of any efficiency justifications, and whether the discount is expected to be passed on to consumers. The analysis further highlights how exclusion may well be costless, or almost costless and can be achieved when the monopolist has non-price means of coercing buyers to be loyal. Further, intermediate cases are explored, in which exclusion, though not entirely costless, is nevertheless cheaper to the monopolist than ordinary predatory pricing.
Download or read book An Antitrust Analysis of Bundled Loyalty Discounts written by Patrick Greenlee and published by . This book was released on 2004 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Evidence based Approach to Exclusive Dealing and Loyalty Discounts written by Joshua D. Wright and published by . This book was released on 2009 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exclusive Dealing written by Magdalena Laskowska and published by . This book was released on 2015 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, there has been growing literature on exclusive dealing and loyalty discounts. I posit that any exclusive dealing should be per se illegal, except in case of loyalty discounts, as it excludes competition at least for the time of its duration. Contrary to the legal and economic literature, I state that loyalty discounts should always be legal, except in case of high entry barriers (or high barriers to expansion). If high entry barriers (or high barriers to expansion) occur, I confirm that the US antitrust jurisprudence is appropriate: unless a reference market is foreclosed about over 40%, loyalty discounts are legal. Owing to the legal solution I propose in this paper, enhanced economic results may be achieved: competition gets intensified, and any exclusion of rivals that may arise would result from a strong competitive process.
Download or read book Robust Exclusion and Market Division Through Loyalty Discounts written by Einer Elhauge and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show that loyalty discounts create an externality among buyers because each buyer who signs a loyalty discount contract softens competition and raises prices for all buyers. This externality can enable an incumbent to use loyalty discounts to effectively divide the market with its rival and raise prices. If loyalty discounts also include a buyer commitment to buy from the incumbent, then loyalty discounts can also deter entry under conditions in which ordinary exclusive dealing cannot. With or without buyer commitment, loyalty discounts will increase profits while reducing consumer welfare and total welfare as long as enough buyers exist and the entrant does not have too large a cost advantage. These propositions are true even if the entrant is more efficient and the loyalty discounts are above cost and cover less than half the market. We also prove that these propositions hold without assuming economies of scale, downstream competition, buyer switching costs, financial constraints, limits on rival expandability, or any intra-product bundle of contestable and incontestable demand.
Download or read book Competition Law written by Richard|Bailey Whish (David) and published by Oxford University Press. This book was released on 2024 with total page 1269 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Antitrust by Analogy written by Sean Gates and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Antitrust law has become dominated by economics. With its chief end the enhancement of economic welfare through the preservation of the competitive process, antitrust jurisprudence now seeks to follow consensus economic theory. Antitrust liability rules are thus based on prevailing economic views. But what are courts to do when there is no consensus on the economics underlying particular conduct? How can the courts rationally develop antitrust liability rules when the economic analysis of certain conduct is unsettled? That is the case with loyalty rebates and bundled discounts, through which price rebates or discounts are conditioned on the customer purchasing a certain percentage of its requirements or multiple products from the seller. There is no established framework of analysis for conduct involving rebates. There is no long line of cases. There is no “great weight of scholarly opinion” presenting a consensus view. Economists and scholars simply disagree on when such practices may harm competition. Rebates thus offer a rare window into the development of antitrust jurisprudence in the absence of a consensus economic theory. Existing case law presents three analogies -- exclusive dealing, tying, and predatory pricing. Judicial decisionmaking regarding rebates is thus a study in analogical reasoning. But what is sorely missing from the current jurisprudence are in-depth analyses of the efficacy of these analogies. Fuller examination of the three analogies reveals flaws in each. But this examination also points to a better solution.
Download or read book Do Tying Bundling and Other Purchase Restraints Increase Product Quality written by James D. Dana and published by . This book was released on 2018 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tying, bundling, minimum purchase requirements, loyalty discounts, exclusive dealing, and other purchase restraints can create stronger incentives for firms to invest in product quality. In our first example, the firm sells a durable experience good and a complementary non-durable good to a representative consumer. Tying shifts profits from the durable to the non-durable good, making profits more sensitive to the consumer's experience. In our second example, the firm sells a single experience good to consumers with heterogeneous demands. Minimum purchase requirements screen out the low-volume consumers who would otherwise free ride on the superior monitoring of the high-volume consumers. The examples illustrate that purchase restraints can increase both firm profits and consumer surplus by making firm profits more sensitive to consumer experience, either directly by giving the consumer more control over the stream of profits or indirectly by constraining consumers to monitor more intensively.
Download or read book The Limits of Competition Policy written by A. E. Rodriguez and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: What the authors offer is a thoroughgoing analysis clearly demonstrating that, whatever economic path developing countries pursue, imposing Western-style antitrust regimes will engender uncertainty, chill economic behaviour, and foster an unhealthy climate for business. They employ the influential error-cost methodology to appraise the performance of competition policy and to show how such a policy creates irresolvable tensions in fragile economies with weak institutions - economies characterized by informal rules of business practice, long-standing symbiotic business-state relationships, and unpredictable state action. They mount a powerful critique of the arguments of neo-institutionalists (who fail to recognize the vulnerable nature of emerging market economies) and competition `advocates' (who presume to stand ready and vigilant to enforce competition policy on state entities). --
Download or read book Antitrust Law and Economics written by Keith N. Hylton and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this outstanding new book Professor Keith Hylton and his collaborators examine what antitrust law has become over the past ten years, a time in which economic analysis has become its undisputed core. What has become of the old antitrust doctrine, what are the new issues for the immediate future? This book brings together the leading experts to examine this silent revolution at the core of US domestic policy. Mark Grady, UCLA School of Law, US Hylton s Antitrust Law and Economics brings together many of the best authors writing in antitrust today. Their essays range widely, covering proof of agreement under the Sherman Act, group boycotts, monopolization and essential facilities, tying and other vertical restraints, and merger policy. The writing is clear, accessible but still technically sophisticated and comprehensive. This book represents the best in contemporary antitrust scholarship, by authors who understand and are able to communicate the centrality of economic analysis to antitrust. No antitrust lawyer, serious antitrust student, or antitrust economist should be without this book. Herbert Hovenkamp, University of Iowa College of Law, US This comprehensive book provides an extensive overview of the major topics of antitrust law from an economic perspective. Its in-depth treatment and analysis of both the law and economics of antitrust is presented via a collection of interconnected original essays. The contributing authors are among the most influential scholars in antitrust, with a rich diversity of backgrounds. Their entries cover, amongst other issues, predatory pricing, essential facilities, tying, vertical restraints, enforcement, mergers, market power, monopolization standards, and facilitating practices. This well-organized and substantial work will be invaluable to professors of American antitrust law and European competition law, as well as students specializing in competition law. It will also be an important reference for professors and graduate students of economics and business.
Download or read book Competition Law written by Richard Whish and published by Oxford University Press. This book was released on 2021 with total page 1185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This online course will give you insights into important compliance topics.
Download or read book Antitrust Law and Competition for Distribution written by Joshua D. Wright and published by . This book was released on 2005 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Antitrust Analysis written by Phillip E. Areeda and published by Aspen Publishing. This book was released on 2021-09-15 with total page 1175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distinguished authorship characterizes Antitrust Analysis: Problems, Text, and Cases, first written by Phil Areeda, the leading antitrust commentator of the 20th century. The text continues to be revised by three of the leading lawyer economists of the early 21st century. This traditional casebook is also known for its pedagogy (cases, explanatory text, and problems) and insightful text that conveys essential background information along with necessary economic principles. Recognizing that the most important development in antitrust doctrine over the past fifty years is the increasingly central role of economic analysis, the authors take great care to convey economic learning to students in plain language with a minimum of technical apparatus, resulting in a powerful volume adopted by experienced instructors and first-time teachers alike. Helpful appendices include Selected Statutes, such as the Sherman Act, the Clayton Act, and the Federal Trade Commission Act. New to the Eighth Edition: The addition of C. Scott Hemphill as a co-author, adding to the already distinguished author team. Since the last edition, antitrust enforcers and courts have struggled to grapple with the rising importance of platforms in our increasingly digital economy. The new edition gives extensive attention to these developments, including: The Supreme Court’s decision in Ohio v. American Express Major enforcement actions against Apple, Facebook, and Google New Vertical Merger Guidelines Completely rewritten and streamlined introductory material in Chapter 1. Professors and student will benefit from: Distinguished authorship: Original author Areeda was the leading antitrust commentator of the 20th century; Kaplow, Edlin, and Hemphill are leading lawyer-economists of the early 21st century. Pedagogy: Traditional casebook with cases, explanatory text, and problems. Insightful textual explanations convey essential background information and necessary economic principles. Adopted by experienced instructors and first-time teachers alike. Appendix includes selected statutes and the Sherman Act, the Clayton Act, and the Federal Trade Commission Act. Teaching materials Include: Teacher’s Manual
Download or read book Handbook of Research in Trans Atlantic Antitrust written by Philip Marsden and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 798 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is handsomely produced by Edward Elgar. . . The notes contain more than citations and are well worth reading. A welcome feature is that after each set of notes there is a list of the most important writings on the topic followed by a list of the most important cases. Edward Elgar is well known in economic circles, hence the endnotes to which economists are accustomed. . . It has published several books on competition for lawyers over the last years and is a welcome entrant to the lawyers market. Valentine Korah, World Competition This extremely well done and important book collects writings by more than two dozen academics and practitioners on important topics in competition law. . . This is an excellent book, important for research by anyone who is serious about global or comparative competition policy. European Law Review This Handbook assembles a valuable collection of insightful analyses dealing with many cutting-edge issues arising in modern antitrust enforcement on both sides of the Atlantic. Philip Lowe, European Commission The contributions to this Handbook provide a comprehensive, up-to-date treatment of antitrust law in the Americas and Europe. I would recommend it to anyone who wants to learn about antitrust law and its administration in the major enforcement areas of the world. This is bound to become an important reference for antitrust students and experts. Keith Hylton, Boston University, US This comprehensive research Handbook brings together cutting-edge legal and economic analysis into antitrust issues by leading experts from Europe, the USA, Canada, Mexico and South America. The Handbook of Research in Trans-Atlantic Antitrust covers a wide-range of areas including: the meaning of consumer welfare mergers in monopsony markets unilateral effects private and criminal enforcement implementing competition policy in regulated sectors abuse of intellectual property rights competition remedies international enforcement cooperation complainants rights dominant firm pricing tying and bundling. The Handbook also includes discursive consideration of the similarities and differences among the various regimes on either side of the Atlantic, as well as a look to future trends and applications in regional and global contexts. Offering a comparative view of pressing antitrust issues, this Handbook will be of great interest to academics, lawyers, practitioners and officials.
Download or read book Global Competition Law and Economics written by Einer Elhauge and published by Bloomsbury Publishing. This book was released on 2011-08-03 with total page 1324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second edition of the acclaimed text on global antitrust law. With markets becoming increasingly global, mergers requiring approval in several different jurisdictions, cartels in one nation affecting supply in others, and countries increasingly entering into treaties with each other about the content or enforcement of competition laws, antitrust law is now a truly global phenomenon. Modern antitrust law is also different because it now reflects an increasingly economic approach to analysing antitrust and competition policy. This innovative work is the only truly comparative and economically sophisticated casebook on the market. Addressed to students from all jurisdictions having competition laws, this casebook provides an in-depth analysis of the two major global antitrust regimes in the world, as well as a summary of selected national antitrust laws. As such it will also serve as a useful reference for practitioners, competition officials and policy-makers interested in competition law. In the four years since the first edition, the increased globalization of antitrust law has continued apace. China, the world's third largest economy after the EU and US, has adopted an antitrust law and other nations have modified and modernized their antitrust regimes. The EU has adopted a new EU Treaty, new EU guidelines on abuse of dominance, new EU guidelines on non-horizontal mergers, and new EU regulations and guidelines on vertical agreements. In the US there have been important new Supreme Court cases (the 2009 Linkline and 2010 American Needle decisions) and the appearance of a new economic approach in the revised 2010 U.S. Merger Guidelines. This new edition expands and updates the pioneering approach of the first edition, addressing new developments not only in the US and EU, but also in Australia, Brazil, Canada, Israel, Japan, South Africa, and South Korea, with expanded coverage of China's new antitrust law, and the antitrust laws of Argentina, Chile, Colombia, Egypt, India, Indonesia, New Zealand, Peru, Russia, Saudi Arabia, Singapore, Taiwan, Thailand, Turkey, and Venezuela. Praise for the first edition '...worthy of considerable praise...contains a vast collection of well-chosen material taking in a wide span of both antitrust and merger law issues. It is well written and clear throughout, particularly on the economic concepts, and provides incisive commentary and questions which inspire further study.' Peter Whelan, Cambridge Law Journal 'Enlightened law professors and law schools will best serve their students not by teaching national competition law but by adopting Global Competition Law and Economics...an excellent book for introductory courses in comparative competition law at either a graduate or undergraduate level.' Okeoghene Odudu, Common Market Law Review '...the best four-and-a-half centimetres of shelf-space that I have seen devoted to competition law and policy issues for a very long time”.' Yvonne van Roy, New Zealand Law Journal 'Free from the ideologically-driven perspective that can affect other antitrust casebooks, this is also the first casebook organized from inception with an eye directly on the global context...this book may be used in a classroom in Europe just as it will be used in the U.S. The result is a highly welcome contribution to the evolution of competition studies.' Judge Douglas Ginsburg '...this book is the only one on the market that is extremely well suited for use in a comparative antitrust law class...an extraordinarily teachable book that contains everything you might want to present...Finally, the comparative antitrust field has a standard textbook to use. And a wonderful standard it is.' Robert H Lande, University of Baltimore Law School
Download or read book Lectures on Antitrust Economics written by Michael Dennis Whinston and published by . This book was released on 2006 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Antitrust law regulates economic activity but differs in its operation from what is traditionally considered "regulation." Where regulation is often industry-specific and involves the direct setting of prices, product characteristics, or entry, antitrust law focuses more broadly on maintaining certain basic rules of competition. In these lectures Michael Whinston offers an accessible and lucid account of the economics behind antitrust law, looking at some of the most recent developments in antitrust economics and highlighting areas that require further research. He focuses on three areas: price fixing, in which competitors agree to restrict output or raise price; horizontal mergers, in which competitors agree to merge their operations; and exclusionary vertical contracts, in which a competitor seeks to exclude a rival. Antitrust commentators widely regard the prohibition on price fixing as the most settled and economically sound area of antitrust. Whinston's discussion seeks to unsettle this view, suggesting that some fundamental issues in this area are, in fact, not well understood. In his discussion of horizontal mergers, Whinston describes the substantial advances in recent theoretical and empirical work and suggests fruitful directions for further research. The complex area of exclusionary vertical contracts is perhaps the most controversial in antitrust. The influential "Chicago School" cast doubt on arguments that vertical contracts could be profitably used to exclude rivals. Recent theoretical work, to which Whinston has made important contributions, instead shows that such contracts can be profitable tools for exclusion. Whinston's discussion sheds light on the controversy in this area and the nature of those recent theoretical contributions. Sponsored by the Universidad Torcuato Di Tella
Download or read book Competition Rules for the 21st Century written by Ky Ewing and published by Kluwer Law International B.V.. This book was released on 2006-01-01 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ky Ewingands magisterial work on international competition law is here updated to take stock of the prodigious expansion of anti-cartel enforcement throughout the world in the intervening years. Although the book has been highly regarded as a major reconsideration of the foundations of competition law and policy, it has also proven enormously valuable for its wealth of information and practical guidance. Among its most useful features (some new to the second edition) are the following: and a vast amount of statistical and other information about public competition law enforcement agencies and their resources around the world; and in-depth analysis of the differences in competition law regimes and the various economic and legal theories from which they derive; and detailed attention to jurisprudence and legal commentary over many decades; and probing of the meaning of andlowand and andfairand as applied to prices; and suggestions for carrying out re-evaluation of policies on the basis of empirical evidence; and formulation of a model new U.S. competition law preempting state laws; and and guidelines on distinguishing useful collaboration from collusive activity. Nine new appendices have been added to this edition, covering such informative material as new statistical data about U.S. enforcement, details on the dramatic cooperation now taking place among nations in anti-cartel enforcement, and suggestions on how companies and practitioners should respond to multinational investigations.
