Download or read book Naked Exclusion by an Input Supplier written by Federal Trade Commission and published by . This book was released on 2014-09-24 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent literature has shown that an incumbent can use exclusive contracts to maintain supra-competitive prices, but only if he completely prevents a more efficient potential entrant from entering, and if the entrant is exogenously prevented from making exclusive offers. Such models cannot explain how exclusive contracts can lower welfare when they do not completely foreclose a small rival, when the rival can make exclusive offers, nor can they identify rudimentary relationships such as how a dominant supplier's size affects his incentive and ability to exclude and lower welfare. I formally model competition between a dominant input supplier and a small rival selling to competing downstream firms. I show that a dominant supplier can pay downstream firms for exclusivity, allowing it to maintain supra-competitive input prices, even when a small rival that is more efficient at serving some portion of the market can make exclusive offers. I also show exclusives need not completely exclude the small rival to cause competitive harm. The payment the dominant supplier makes for exclusivity must equal the incremental rents that the rival's input could generate if exactly one downstream firm sells goods using it.
Download or read book Naked Exclusion by a Dominant Supplier written by Patrick DeGraba and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Naked Exclusion and the Volatility of Innovation written by Christodoulos Stefanadis and published by . This book was released on 2015 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The analysis shows that the volatility of a potential entrant's innovation is an important parameter which shapes an incumbent supplier's exclusivity strategy. Higher volatility encourages the incumbent supplier to adopt an accommodation, rather than a pure exclusion, strategy. When volatility is above a threshold, the incumbent always chooses accommodation regardless of the expected size of the entrant's innovation. And since an accommodation strategy merely redistributes surplus without blocking efficient entry, it may not warrant a prohibition of exclusivity contracts by the antitrust authorities.
Download or read book Sequential Innovation Naked Exclusion and Upfront Lump Sum Payments written by Jay Pil Choi and published by . This book was released on 2017 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a potentially benign naked exclusion mechanism that can be applied to sequential innovation; a non-patentable original innovation by the incumbent supplier fosters derivative innovation by rivals. In the absence of an appropriate legal framework, the original innovator's equilibrium exclusivity contracts block subsequent efficient entry even if there is (leader-follower) competition in the contracting phase. However, the legal framework may maximize social welfare by imposing a ban on upfront lumps-sum payments in exclusivity contracts (by all suppliers) combined with an outright ban on exclusivity contracts by the derivative innovator. The former ban precludes the exclusion of socially beneficial derivative innovation by causing the incumbent supplier to resort to accommodation, rather than to pure exclusion, strategies. The latter ban complements the former by preventing inefficient or excessive derivative innovation.
Download or read book Ex Post Evaluation of Competition Cases written by Assimakis Komninos and published by Kluwer Law International B.V.. This book was released on 2021-10-13 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition authorities use ex post evaluation of enforcement decisions to help determine if an intervention (or non-intervention) has achieved its objectives – and, if not, the reasons it failed to do so – thus allowing for improvement in the design and use of techniques used in the analysis underpinning the decision. In this essential volume, expert contributors use this procedure to provide a neutral and extensive assessment of cases that have significantly shaped European Union (EU) competition law enforcement. With in-depth analysis of foundational cases of EU competition law and the methodologies that have been developed over time to predict how enforcement decisions will affect competition, for each case the authors respond thoroughly to such questions as the following: Did the decision have an impact on the affected market? Did it improve consumer or social welfare? With the benefit of hindsight, were the factual assertions true? Were all the relevant theories of harm (and efficiency justifications) properly investigated? Was the decision able to deter similar anticompetitive behaviour? Did the decision provide clear guidance on which types of conduct should be deemed illegal? Industries covered include information technology (the Microsoft cases), payment cards (the Visa Europe 2010 Commitments Decision), pharmaceuticals, and conditional rebates (Michelin I, Michelin II and BA/Virgin). Also investigated are the role of buyer power in concentration cases and the relative strength of competition law enforcement versus regulation, where appropriate. In its accumulation of evidence from individual cases that have gradually improved our ability to grasp the connections between policy choices and the outcomes they lead to, this matchless volume has no peers. It constitutes an invaluable resource for competition authorities in performing ex post evaluations and will be welcomed by practitioners and academics concerned with European competition law.
Download or read book Fidelity Rebates in Competition Law written by Miroslava Marinova and published by Kluwer Law International B.V.. This book was released on 2018-11-07 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the treatment of fdelity rebates as one of the most controversial topics in EU competition law. The controversy arose from the lack of clarity as to how to distinguish between rebates that constitute a legitimate business practice and those that might have anticompetitive e?ects, as the same type of rebates could be pro-competitive or anticompetitive depending on their e?ects on competition. This book clarifes the appropriate treatment of fdelity rebates under EU competition law by o?ering original insights on the way in which abusive rebates should be identifed, taking into account the wealth of EU case law in this area, the economics' literature and the perspective of US antitrust law. The critical discussion on the case law is centred on the idea as to whether the as efcient competitor (AEC) test is an important part of the assessment of fdelity rebates and in which circumstances it could be used as one tool among others. The analysis treats such issues and topics as the following: – What motivated the EU Courts to treat fdelity rebates as illegal ‘by object'? – Why has this case law drawn so much criticism from academics and other commentators? – What can we learn from the economic theories of exclusive dealing and fdelity rebates, and whether the strict approach of the Courts can be supported by economic empirical studies? – What is the meaning attached to the notion of an ‘e?ects-based' approach as an expression of the reform of Article 102? – Why is the controversy regarding the treatment of fdelity rebates still a live issue after the Intel and the Post Danmark II judgments? – In which circumstances the price-cost test can be used as a reliable tool to distinguish between anticompetitive and pro-competitive fdelity rebates? – Can we evaluate the e?ect of fdelity rebates without necessarily carrying out a price-cost test? – Can we consider the AEC test as a single unifying test for all types of exclusionary abuses? – What can we learn about the application of the AEC test in fdelity rebate cases from the recent US case law? A concluding chapter provides an original perspective and also policy recommendations on how the abusive character of fdelity rebates should be assessed including an appropriate legal test that is administrable, creates predictability and legal certainty and minimises the risk of errors and the cost of those mistakes. This book takes a giant step towards improving the understanding of the legal treatment of fdelity rebates and understanding as to whether the treatment of fdelity rebates could be e?ects-based, without necessarily carrying out an AEC test. It will also contribute signifcantly to the practical work of enforcement agencies, courts and private entities and their advisors. book's parallel study of US and EU competition law.
Download or read book Regulation written by and published by . This book was released on 1986 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hub and Spoke Cartels written by Luke Garrod and published by MIT Press. This book was released on 2021-11-16 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first comprehensive economic and legal analysis of hub-and-spoke cartels, with detailed case studies. A cartel forms when competitors conspire to limit competition through coordinated actions. Most cartels are composed exclusively of firms that would otherwise be in competition, but in a hub-and-spoke cartel, those competitors (“spokes”) conspire with the assistance of an upstream supplier or a downstream buyer (“hub”). This book provides the first comprehensive economic and legal analysis of hub-and-spoke cartels, explaining their formation and how they operate to create and sustain a collusive environment. Sixteen detailed case studies, including cases brought against toy manufacturer Hasbro and the Apple ebook case, illustrate the economic framework and legal strategies discussed. The authors identify three types of hub-and-spoke cartels: when an upstream firm facilitates downstream firms to coordinate on higher prices; when a downstream intermediary facilitates upstream suppliers to coordinate on higher prices; and when a downstream firm facilitates upstream suppliers to exclude a downstream rival. They devote a chapter to each type, discussing the formation, coordination, enforcement, efficacy, and prosecution of these cartels, and consider general lessons that can be drawn from the case studies. Finally, they present strategies for prosecuting hub-and-spoke collusion. The book is written to be accessible to both economists and lawyers, and is intended for both scholars and practitioners.
Download or read book Antitrust Law Journal written by and published by . This book was released on 1986 with total page 902 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Antitrust Anthology written by Andrew I. Gavil and published by Anderson Publishing Company (OH). This book was released on 1996 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: The texture of antitrust law cannot be fully appreciated without venturing out beyond the cases to experience the commentary that has described and frequently influenced the law's direction. An Antitrust Anthology is an invitation to that exploration, and is designed to introduce readers to a greater appreciation of the ongoing and continually unfolding tale of American capitalism that is antitrust. As a companion to the traditional casebook, An Antitrust Anthology presents the teacher and student with an opportunity to pause and consider the development of ideas in antitrust at a number of critical junctures, with respect to many foundation principles. For the active antitrust lawyer, it constitutes a re-invitation to ponder the ideas that historically have had an enormous impact on antitrust counseling and litigating.
Download or read book SMU Law Review written by and published by . This book was released on 1995 with total page 1338 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Foundations of European Union Competition Law written by Renato Nazzini and published by OUP Oxford. This book was released on 2011-12-01 with total page 2114 pages. Available in PDF, EPUB and Kindle. Book excerpt: Article 102 TFEU prohibits the abuse of a dominant position as incompatible with the internal market. Its application in practice has been controversial with goals as diverse as the preservation of an undistorted competitive process, the protection of economic freedom, the maximisation of consumer welfare, social welfare, or economic efficiency all cited as possible or desirable objectives. These conflicting aims have raised complex questions as to how abuses can be assessed and how a dominant position should be defined. This book addresses the conceptual problems underlying the tests to be applied under Article 102 in light of the objectives of EU competition law. Adopting an interdisciplinary approach, the book covers all the main issues relating to Article 102, including its objectives, its relationship with other principles and provisions of EU law, the criteria for the assessment of individual abusive practices, and the definition of dominance. It provides an in-depth doctrinal and normative commentary of the case law with the aim of establishing an intellectually robust and practically workable analytical framework for abuse of dominance.
Download or read book Canadian Competition Law and Policy at the Centenary written by Institute for Research on Public Policy and published by Halifax, N.S. : Institute for Research on Public Policy. This book was released on 1991 with total page 710 pages. Available in PDF, EPUB and Kindle. Book excerpt: This document contains papers on the following topics: the role of competition policy and its relationship to other economic policies; conspiracy; mergers; abuse of dominant position; vertical restraints; misleading advertising/deceptive marketing practices; competition policy and regulation; competition policy and intellectual property; and administration and enforcement.
Download or read book Exclusionary Practices written by Chiara Fumagalli and published by Cambridge University Press. This book was released on 2018-01-11 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most controversial area in competition policy is that of exclusionary practices, where actions are taken by dominant firms to deter competitors from challenging their market positions. Economists have been struggling to explain such conduct and to guide policy-makers in designing sensible enforcement rules. In this book, authors Chiara Fumagalli, Massimo Motta, and Claudio Calcagno explore predatory pricing, rebates, exclusive dealing, tying, and vertical foreclosure, through a blend of theory and practice. They develop a general framework which builds on and extends existing economic theories, drawing upon case law, discussions of cases and other practical considerations to identify workable criteria that can guide competition authorities to assess exclusionary practices. Along with analyses of policy implications and insights applied to case studies, the book provides practitioners with non-technical discussions of the issues at hand, while guiding economics students with dedicated technical sections with rigorous formal models.
Download or read book Competition Policy and the Control of Buyer Power written by Peter C. Carstensen and published by Edward Elgar Publishing. This book was released on 2017-09-29 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of the economic and competition policy issues that buyer power creates. Drawing on economic analysis and cases from around the world, it explains why conventional seller side standards and analyses do not provide an adequate framework for responding to the problems that buyer power can create. Based on evidence that abuse of buyer power is a serious problem for the competitive process, the book evaluates the potential for competition law to deal directly with the problems of abuse either through conventional competition law or special rules aimed at abusive conduct. The author also examines controls over buying groups and mergers as potentially more useful responses to risks created by undue buyer power.
Download or read book Handbook of Industrial Organization written by Richard Schmalensee and published by Elsevier. This book was released on 1989 with total page 943 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation This is Vol 3 of the Handbook of Industrial Organization series (HIO). Vols 1 & 2 published simultaneously in 1989 under the editorship of Richard Schmalensee and Robert Willig. Many of the chapters in these successful volumes were widely cited and appeared on graduate reading lists, and some continue to appear even recently. Since the first volumes published, the field of industrial organization has continued to evolve. As the editors acknowledge in the Preface, these volumes had some gaps and this new volume aims to fill some of those gaps. The aim is to serve as a source, reference and teaching supplement for industrial organization, or industrial economics, the microeconomics field that focuses on business behavior and its implications for both market structures and processes, and for related public policies. The first two volumes of the HIO appeared at roughly the same time as Jean Tirole's book The Theory of Industrial Organization. Together they helped revolutionize the teaching of industrial organization, and provided a state-of-the-art summary. Tirole's book is concerned with the relevant theory, and several reviewers noted that the first two volumes of HIO contained much more discussion of the theoretical literature than of the empirical literature. In most respects, this imbalance was an accurate reflection of the field. Since then, the empirical literature has flourished, while the theoretical literature has continued to grow, and this new volume reflects that change of emphasis. *Part of the renown Handbooks in Economics series *Chapters are contributed by some of the leading experts in their fields. *A source, reference and teaching supplement for industrial organizations, or industrial economicists.
Download or read book Handbook of Industrial Organization written by Mark Armstrong and published by Elsevier. This book was released on 2007-10-05 with total page 943 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is Volume 3 of the Handbook of Industrial Organization series (HIO). Volumes 1 & 2 published simultaneously in 1989 and many of the chapters were widely cited and appeared on graduate reading lists. Since the first volumes published, the field of industrial organization has continued to evolve and this volume fills the gaps. While the first two volumes of HIO contain much more discussion of the theoretical literature than of the empirical literature, it was representative of the field at that time. Since then, the empirical literature has flourished, while the theoretical literature has continued to grow, and this new volume reflects that change of emphasis. Thie volume is an excellent reference and teaching supplement for industrial organization or industrial economics, the microeconomics field that focuses on business behavior and its implications for both market structures and processes, and for related public policies. *Part of the renowned Handbooks in Economics series *Chapters are contributed by some of the leading experts in their fields *A source, reference and teaching supplement for industrial organizations or industrial economists
