Download or read book Monopsony in Law and Economics written by Roger D. Blair and published by Cambridge University Press. This book was released on 2010-09-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Most readers are familiar with the concept of a monopoly. A monopolist is the only seller of a good or service for which there are not good substitutes. Economists and policy makers are concerned about monopolies because they lead to higher prices and lower output. The topic of this book is monopsony, the economic condition in which there is one buyer of a good or service. It is a common misunderstanding that if monopolists raise prices, then monopsonists must lower them. It is true that a monopsonist may force sellers to sell to them at lower prices, but this does not mean consumers are better off as a result. This book explains why monopsonists can be harmful and the way law has developed to respond to these harms.
Download or read book Monopsony in Law and Economics written by Roger D. Blair and published by Cambridge University Press. This book was released on 2010-09-06 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most readers are familiar with the concept of a monopoly. A monopolist is the only seller of a good or service for which there are not good substitutes. Economists and policy makers are concerned about monopolies because they lead to higher prices and lower output. The topic of this book is monopsony, the economic condition in which there is one buyer of a good or service. It is a common misunderstanding that if monopolists raise prices, then monopsonists must lower them. It is true that a monopsonist may force sellers to sell to them at lower prices, but this does not mean consumers are better off as a result. This book explains why monopsonists can be harmful and the way law has developed to respond to these harms.
Download or read book Monopsony written by Roger D. Blair and published by . This book was released on 1993 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: When owners of major league baseball teams collude in dealing with free agents, when universities meet to avoid a bidding war for the most desirable students, when large manufacturing or processing facilities fix purchase prices of raw materials at artificially low levels, and when dealers rig the bids in public auctions, monopsony power is being exercised. Drawing on microeconomic theory and antitrust law, this interdisciplinary work explores the implications of monopsony, or buying power, for antitrust policy. Roger Blair and Jeffrey Harrison argue that monopsony is more prevalent than usually supposed. Here they offer a systematic treatment of the topic, demonstrating that whether monopsony power exists because of a dominant buyer or collusion among buyers, it can cause social welfare losses analogous to those occasioned by monopoly. Blair and Harrison demonstrate that monopsony affects all areas of antitrust policy, including the law of monopolization, collusion, and merger policy. In so doing, they develop several policy tools, such as a Buying Power Index and a guide to its practical application. They also discuss bilateral monopoly and offer a principled basis for distinguishing between socially desirable and undesirable cooperative buying.
Download or read book Monopsony in Labor Markets written by Brianna L. Alderman and published by Cambridge University Press. This book was released on 2024-02-15 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economics of monopsony power results in lower wages and other forms of compensation, as well as reduced employment. Wealth is transferred from workers to their employers. In addition, the employer's output is reduced, which leads to increased prices for consumers. Monopsony in Labor Markets demonstrates that elements of monopsony are pervasive and explores the available antitrust policy options. It presents the economic and empirical foundations for antitrust concerns and sets out the relevant antitrust policy. Building on this foundation, it examines collusion on compensation, collusive no-poaching agreements, and the inclusion of non-compete agreements in employment contracts. It also addresses the influence of labor unions, labor's antitrust exemption, which permits the exercise of countervailing power, and the consequences of mergers to monopsony. Offering a thorough explanation of antitrust policy, this book identifies the basic economic problems with monopsony in labor markets and explains the remedies currently available.
Download or read book Research Handbook on the Economics of Antitrust Law written by Einer Elhauge and published by Edward Elgar Publishing. This book was released on 2012 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: One might mistakenly think that the long tradition of economic analysis in antitrust law would mean there is little new to say. Yet the field is surprisingly dynamic and changing. The specially commissioned chapters in this landmark volume offer a rigorous analysis of the field's most current and contentious issues. Focusing on those areas of antitrust economics that are most in flux, leading scholars discuss topics such as: mergers that create unilateral effects or eliminate potential competition; whether market definition is necessary; tying, bundled discounts, and loyalty discounts; a new theory of predatory pricing; assessing vertical price-fixing after Leegin; proving horizontal agreements after Twombly; modern analysis of monopsony power; the economics of antitrust enforcement; international antitrust issues; antitrust in regulated industries; the antitrust-patent intersection; and modern methods for measuring antitrust damages. Students and scholars of law and economics, law practitioners, regulators, and economists with an interest in industrial organization and consulting will find this seminal Handbook an essential and informative resource.
Download or read book Monopsony in Motion written by Alan Manning and published by Princeton University Press. This book was released on 2013-12-03 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption. The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.
Download or read book How Antitrust Failed Workers written by Eric A. Posner and published by Oxford University Press. This book was released on 2021 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Antitrust law has very rarely been used by workers to challenge anticompetitive employment practices. Yet recent empirical research shows that labor markets are highly concentrated, and that employers engage in practices that harm competition and suppress wages. These practices include no-poaching agreements, wage-fixing, mergers, covenants not to compete, and misclassification of gig workers as independent contractors. This failure of antitrust to challenge labor-market misbehavior is due to a range of other failures-intellectual, political, moral, and economic. And the impact of this failure has been profound for wage levels, economic growth, and inequality. In light of the recent empirical work, it is urgent for regulators, courts, lawyers, and Congress to redirect antitrust resources to labor market problems. This book offers a strategy for judicial and legislative reform"--
Download or read book Law and Economics of Vertical Integration and Control written by Roger D. Blair and published by Academic Press. This book was released on 2014-05-10 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law and Economics of Vertical Integration and Control focuses on the processes, methodologies, and approaches involved in the law and economics of vertical integration and control. The publication first elaborates on transaction costs, fixed proportions and contractual alternatives, and variable proportions and contractual alternatives. Discussions focus on sales revenue royalties, ownership integration, output royalties, important product-specific services, successive monopoly, advantages and limitations of internal transfers, and transaction cost determinants. The text then examines vertical integration under uncertainty and vertical integration without contractual alternatives. The book ponders on legal treatment of ownership integration and per se illegal contractual controls. Topics include tying arrangements, public policy assessment, resale price maintenance, vertical integration and the Sherman Act, market foreclosure doctrine, and the 1982 Merger Guidelines. The text also takes a look at contractual controls that are not illegal per se, alternative legal rules, and antitrust policy. The publication is a dependable reference for researchers interested in the law and economics of vertical integration and control.
Download or read book Reverse Subsidies in Global Monopsony Capitalism written by Dev Nathan and published by Cambridge University Press. This book was released on 2022-05-26 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a firm analytical base to discussions about injustice and the unequal distribution of gains from global production in the form of global monopsony capitalism. It utilizes the concept of reverse subsidies as the purchase of gendered labour and environmental services below their costs of production in garment value chains in India and other garment producing countries, such as Bangladesh and Cambodia. Environmental services, such as freshwater for garment manufacture and land for cotton production, are degraded by overuse and untreated waste disposal. The resulting higher profits from the low prices of garments are captured by global brands, using their monopsony position, with few buyers and myriad sellers, in the market. This book links the concept of reverse subsidies with those of injustice, inequality and sustainability in global production.
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Download or read book Antitrust Economics for Lawyers written by and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book In Defense of Monopoly written by Richard B. McKenzie and published by University of Michigan Press. This book was released on 2019-02-28 with total page 629 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.
Download or read book Market Power Handbook written by American Bar Association. Section of Antitrust Law and published by American Bar Association. This book was released on 2005 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Have you ever wondered what a therapist really thinks? Have you ever wondered if a therapist truly cares about her patients? Have you tried to imagine the unimaginable, the loss of the person most dear to you? Is it true that `tis better to have loved and lost, than never to have loved at all? ` Love and loss are a ubiquitous part of life, bringing the greatest joys and the greatest heartaches. In one way or another all relationships end. People leave, move on, die. Loss is an ever-present part of life. In Love and Loss, Linda B. Sherby illustrates that in order to grow and thrive, we must learn to mourn, to move beyond the person we have lost while taking that person with us in our minds. Love, unlike loss, is not inevitable but, she argues, no satisfying life can be lived without deeply meaningful relationships. The focus of Love and Loss is how patients' and therapists' independent experiences of love and loss, as well as the love and loss that they experience in the treatment room, intermingle and interact. There are always two people in the consulting room, both of whom are involved in their own respective lives, as well as the mutually responsive relationship that exists between them. Love and loss in the life of one of the parties affects the other, whether that affect takes place on a conscious or unconscious level. Love and Loss is unique in two respects.The first is its focus on the analyst's current life situation and how that necessarily affects both the patient and the treatment. The second is Sherby's willingness to share the personal memoir of her own loss which she has interwoven with extensive clinical material to clearly illustrate the effect the analyst's current life circumstance has on the treatment. Writing as both a psychoanalyst and a widow, Linda B. Sherby makes it possible for the reader to gain an inside view of the emotional experience of being an analyst, making this book of interest to a wide audience. Professionals from psychoanalysts and psychotherapists and bereavement specialists through students in all the mental health fields to the public in general, will resonate and learn from this heartfelt and straightforward book.
Download or read book The American Political Economy written by Jacob S. Hacker and published by Cambridge University Press. This book was released on 2021-11-11 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing together leading scholars, the book provides a revealing new map of the US political economy in cross-national perspective.
Download or read book The Law and Economics of Article 102 TFEU written by Robert O'Donoghue QC and published by A&C Black. This book was released on 2014-07-18 with total page 1168 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Law and Economics of Article 102 TFEU is a comprehensive, integrated treatment of the legal and economic principles that underpin the application of Article 102 TFEU to the behaviour of dominant firms. Traditional concerns of monopoly behaviour, such as predatory pricing, refusals to deal, excessive pricing, tying and bundling, discount practices and unlawful discrimination are treated in detail through a review of the applicable economic principles, the case law and decisional practice and more recent economic and legal writings. In addition, the major constituent elements of Article 102 TFEU, such as market definition, dominance, effect on trade and applicable remedies are considered at length. Jointly authored by a lawyer and an economist, The Law and Economics of Article 102 TFEU contains an integrated approach to the legal and economic principles that frame policy in this major area of competition law. Although written primarily with practitioners and in-house lawyers in mind, it is essential reading for anyone with an interest in competition law enforcement against monopoly behaviour.
Download or read book Sports Economics written by Roger D. Blair and published by Cambridge University Press. This book was released on 2011-12-12 with total page 555 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sports Economics, the most comprehensive textbook in the field by celebrated economist Roger D. Blair, focuses primarily on the business and economics aspects of major professional sports and the NCAA. It employs the basic principles of economics to address issues such as the organization of leagues, pricing, advertising and broadcasting as well as the labor market in sports. Among its novel features is the candid coverage of the image and integrity of players, teams, managers and the leagues themselves, including cases of gambling, cheating, misconduct and steroids. Blair explains how economic decisions are made under conditions of uncertainty using the well-known expected utility model and makes extensive use of present value concepts to analyze investment decisions. Numerous examples are drawn from the daily press. The text offers ample boxes to illustrate sports themes, as well as extensive use of diagrams, tables, problem sets and research questions.
Download or read book The Myth of Capitalism written by Jonathan Tepper and published by John Wiley & Sons. This book was released on 2023-04-25 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed Internet, health insurance, medical care, mortgage title insurance, social networks, Internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their pay check to monopolists and oligopolists. The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why is the US becoming a more unequal society, why is economic growth anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why are workers losing out.
