Download or read book Why the New Evidence on Minimum Resale Price Maintenance Does Not Justify a Per Se Or Quick Look Approach written by Thomas A. Lambert and published by . This book was released on 2013 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The battle over the proper legal treatment of minimum resale price maintenance (RPM) continues to rage in the United States. While the U.S. Supreme Court's 2007 Leegin decision abrogated the per se rule of the 1911 Dr. Miles decision and required that RPM be evaluated under antitrust's Rule of Reason, policy makers and commentators have divided over what a Rule of Reason inquiry should look like. Many have pushed for a “quick look” approach that would effectively deem instances of minimum RPM to be presumptively unreasonable in numerous situations. Others, including one of the authors here, have advocated a full-blown Rule of Reason that places a heavy burden on RPM challengers. At the state level, a number of states have declined to follow Leegin and will continue to deem minimum RPM to be per se illegal under state antitrust law.A recent study by University of Chicago economists Alexander MacKay and David Aron Smith purports to show that states following Leegin, rather than maintaining their old rules of per se illegality, have experienced anticompetitive effects in the form of higher prices for, and reduced output of, household consumer goods. The study thus provides ammunition to those advocating state rules of per se illegality and a federal “quick look” approach.Examined closely, the MacKay & Smith study fails to establish that adherence to stricter RPM rules results in procompetitive benefit. It therefore cannot overcome the persuasive theory- and evidence-based arguments for assessing minimum RPM under a full-blown Rule of Reason. This essay summarizes those arguments and explains why the MacKay & Smith study cannot refute them.

Download or read book Competition Law and Economics written by Jay P. Choi and published by Edward Elgar Publishing. This book was released on 2020-04-24 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this exciting new book, an international team of experts compare market structures, in both global and Korean contexts, particularly focusing on the impact of foreign competition on market concentration and ways to improve market structure. It thoroughly investigates core competition problems, including international abuses of dominance, mergers and collusion, and vertical restraints. Contributions move beyond explaining the laws and practices of enforcement agencies, offering readers an insight into the trend of an ever-increasing interdependence among national economies, complemented by analyses of recent developments in the US and Canada.

Download or read book The Antitrust Paradigm written by Jonathan B. Baker and published by Harvard University Press. This book was released on 2019-05-06 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new and urgently needed guide to making the American economy more competitive at a time when tech giants have amassed vast market power. The U.S. economy is growing less competitive. Large businesses increasingly profit by taking advantage of their customers and suppliers. These firms can also use sophisticated pricing algorithms and customer data to secure substantial and persistent advantages over smaller players. In our new Gilded Age, the likes of Google and Amazon fill the roles of Standard Oil and U.S. Steel. Jonathan Baker shows how business practices harming competition manage to go unchecked. The law has fallen behind technology, but that is not the only problem. Inspired by Robert Bork, Richard Posner, and the “Chicago school,” the Supreme Court has, since the Reagan years, steadily eroded the protections of antitrust. The Antitrust Paradigm demonstrates that Chicago-style reforms intended to unleash competitive enterprise have instead inflated market power, harming the welfare of workers and consumers, squelching innovation, and reducing overall economic growth. Baker identifies the errors in economic arguments for staying the course and advocates for a middle path between laissez-faire and forced deconcentration: the revival of pro-competitive economic regulation, of which antitrust has long been the backbone. Drawing on the latest in empirical and theoretical economics to defend the benefits of antitrust, Baker shows how enforcement and jurisprudence can be updated for the high-tech economy. His prescription is straightforward. The sooner courts and the antitrust enforcement agencies stop listening to the Chicago school and start paying attention to modern economics, the sooner Americans will reap the benefits of competition.

Download or read book Competition written by Anna Olimpia and published by Editora Singular. This book was released on 2023-11-08 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proliferation of economic agents with market power, especially those operating in the digital economy and which add unprecedented dynamic and complexity to it, has sparked heated discussions among academics, professionals, and competition authorities around the world regarding the effects of their actions on the market and consumers. Unlike classic cartels – a conduct that has been treated as per se unlawful in Brazil, regardless of the production of effects under Brazilian competition law – unilateral conduct falls into a gray area, encompassing different practices with different effects on the market. In this sense, examples of unilateral conduct that may be considered anticompetitive are numerous, both under old and new labels: predatory pricing, abusive pricing, resale price maintenance, imposition of exclusivities, parity clauses, price discrimination, discrimination of commercial conditions (self-preferencing), price squeeze, refusal to deal, among others. The competition analysis of such conduct – which may occur in traditional "brick and mortar" markets as well as in digital environments involving various platforms and arrangements like blockchain – for the purpose of a decision by the authority on whether they constitute anticompetitive practices or not, involves a highly complex analysis of various factors. The analysis must consider the presence of dominant positions, real or potential detrimental effects on competition, efficiencies, justifications, economic rationale for the conduct, and, for some schools of thought, a weighing of anticompetitive effects and efficiencies. Due to the complexity, specificities, and dynamism of unilateral practices, especially in digital markets or hybrid digital platforms, there is a question of whether the instruments currently available to competition authorities are sufficient to understand and rule on such practices. In this regard, the analysis of various cases in relatively recent jurisprudence shows a pursuit for new forms of interpretation and application, and even updates, to the methodologies of analysis and of applicable legislation, in order to strike a balance between intervention to curb anticompetitive practices to the extent necessary for protecting competition, without resulting on undue interference in the involved markets or on disincentives to innovation. Historically, discussions about exclusivity clauses and resale price maintenance have been central in this type of investigation, but digital platforms are effectively changing this landscape, giving rise to discussions on new types of conduct or more sophisticated forms of implementing traditional types of conduct, which have become possible or potentially more serious through new technologies, the broad reach of platforms, the collection of massive data, and the international nature of the largest players in these markets. Notions of relevant market, theories of harm, and standards of consumer welfare or protection traditionally adopted by antitrust authorities are under study and may be revised. The heterogeneity of legal systems in different jurisdictions is another complicating factor for national authorities in the analysis of conduct practiced by companies with market power internationally. All these analyses are present in the 25 articles written for this publication by IBRAC. We have articles focused on traditional methods of analysis in traditional markets, as well as articles addressing new trends and recent discussions in digital markets and platforms. In times of pandemic and economic crisis, as expected, approaches to prices and pricing strategies are recurring themes in the works compiled here.

Download or read book How the Chicago School Overshot the Mark written by Robert Pitofsky and published by Oxford University Press. This book was released on 2008-10-14 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the Chicago School Overshot the Mark is about the rise and recent fall of American antitrust. It is a collection of 15 essays, almost all expressing a deep concern that conservative economic analysis is leading judges and enforcement officials toward an approach that will ultimately harm consumer welfare. For the past 40 years or so, U.S. antitrust has been dominated intellectually by an unusually conservative style of economic analysis. Its advocates, often referred to as "The Chicago School," argue that the free market (better than any unelected band of regulators) can do a better job of achieving efficiency and encouraging innovation than intrusive regulation. The cutting edge of Chicago School doctrine originated in academia and was popularized in books by brilliant and innovative law professors like Robert Bork and Richard Posner. Oddly, a response to that kind of conservative doctrine may be put together through collections of scores of articles but until now cannot be found in any one book. This collection of essays is designed in part to remedy that situation. The chapters in this book were written by academics, former law enforcers, private sector defense lawyers, Republicans and Democrats, representatives of the left, right and center. Virtually all agree that antitrust enforcement today is better as a result of conservative analysis, but virtually all also agree that there have been examples of extreme interpretations and misinterpretations of conservative economic theory that have led American antitrust in the wrong direction. The problem is not with conservative economic analysis but with those portions of that analysis that have "overshot the mark" producing an enforcement approach that is exceptionally generous to the private sector. If the scores of practices that traditionally have been regarded as anticompetitive are ignored, or not subjected to vigorous enforcement, prices will be higher, quality of products lower, and innovation diminished. In the end consumers will pay.

Download or read book Resale Price Maintenance in Consumer Good Markets written by Melanie Ariane Schwaderer and published by . This book was released on 2019 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis contributes to the debate on the EU’s approach to the business practice of resale price maintenance (RPM), which is widely criticized as too strict and in conflict with what is considered to be the consensus in the economic literature. The thesis critically dissects the economic consensus, on which the critique against the EU’s approach is based, by analyzing the empirical evidence that is cited to support the claim that RPM can frequently be explained by the service-based RPM models and shows that there is no convincing evidence that would support the significance of these positive RPM models that predict positive effects on welfare. To support this finding the thesis collects new evidence by surveying the marketing literature and shows that not only is there no convincing evidence that the positive RPM models frequently apply, but to the contrary there is evidence that these models are inconsistent with the real world phenomenon of RPM. Having refuted the service-based models the thesis takes up the scientific challenge that “it takes a theory to beat a theory” and proposes to fill the gap with three price-based models. The thesis offers an analysis of the three price-based RPM models, first from the perspective of welfare effects and then from a broader economic perspective in an attempt to ultimately show that the EU approach to RPM can be justified based on these economic models. All three models explain the situation in which RPM is used by a branded good manufacturer to create the perception of high quality, which is used either as a credible quality signal, becomes a component of the product or is used to bias the consumer decision; they thus enter the difficult terrain of consumer preference formation and of markets for the intangible components of a product.

Download or read book Resale Price Maintenance written by Thomas R. Overstreet and published by . This book was released on 1984 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Economics of Resale Price Maintenance written by Basil S. Yamey and published by . This book was released on 1954 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Resale Price Maintenance No Longer a Per Se Antitrust Offense written by Janice E. Rubin and published by . This book was released on 2007 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Plaintiff in Leegin Creative Leather Products v. PSKS, Inc. successfully asked the Supreme Court to soften the longstanding treatment of resale price maintenance (RPM, verticial imposition of direct, minimum price restraints) as per se (automatic, and not capable of being justified) antitrust offense. RPM had been so analyzed since the Court decided in 1911 that a manufacturer of patent medicines could not lawfully agree with retailers of its products on the prices at which these products would be sold (Dr. Miles Medical Company v. John D. Park & Sons Company, 220 U.S. 373). Such agreements, the Court had said in Dr. Miles, constituted both unlawful restraints of trade under the common law, and violations of the Sherman Act's prohibition against "contract[s] or combination[s] . . . in restraint of trade" (15 U.S.C. 1). Leegin's practice of entering into contracts with its retailers of the Brighton line of leather products to set the prices at which the dealers would resell those products was challenged by a discounting retailer whose replacement shipments were terminated; the trial court found a per se violation of section 1 (2004 WL 5254322) and the Court of Appeals for the Fifth Circuit affirmed that decision (2006 WL 690946). Leegin argued in the Supreme Court that because RPM may sometimes be pro-consumer (might, for example, allow the retailers to profitably provide extra services desired by some consumers), the practice should not be conclusively presumed unreasonable "without elaborate inquiry as to 'its precise harm or business justification for its use.'" Agreeing with Leegin, the Court overruled Dr. Miles, stating that allowing RPM to be analyzed as a Rule of Reason violation (pursuant to which the procompetitive effects of a judicially determined antitrust violation are weighed against the anticompetitive results of the challenged activity) should be allowed: "Notwithstanding the risks of unlawful conduct, it cannot be stated with any degree of confidence that [RPM] always tend[s] to restrict competition . . . " This report will not be updated.

Download or read book Bye Bye Bargains written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Courts and Competition Policy and published by . This book was released on 2010 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Resale Price Maintenance and the Law written by Christy L. Kollmar and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The question of how to properly enforce against RPM has been a contentious debate for decades on both sides of the Atlantic. The catalyst is the acceptance that RPM can generate both anti-competitive effects and pro-competitive efficiencies that need to be properly balanced to ensure against Type I/Type II errors and to create viable legislation. Part I focuses on 100 years of US origins and the current legal approach to VR enforcement, which reveals the precedent responsible for the transition between per se illegality and the rule of reason thresholds at the federal level. Nine anti-competitive and 19 pro-competitive theoretical models are also introduced to clearly demonstrate the true nonconsensus existent between economists as to whether RPM is deleterious enough to justify a stringent approach to RPM regulation. Part II closely examines the EU origins and current legal structure, where RPM has maintained its hardcore by-object designation pursuant to Art. 101(1) TFEU with the consequence of having no safe harbours, no applicability of the De Minimus Doctrine, an onerous negative rebuttable presumption, non-severability of the agreement and almost no chance of obtaining an exemption under Art. 101(3). This is exacerbated by the EC's lack of guidance on how to prove all conditions necessary for an Art. 101(3) exemption and when a vertical arrangement actually escapes Art. 101(1) applicability. The aim of this book is to examine the economic models, historical origins and legal structures of the US/EU regimes to develop proposals on how to modify the EU's current legal structure to ensure proper enforcement of RPM behaviour that actually enhances legal certainty through a more aligned approach at the national level. Part III proposes five solutions which scrutinise the concepts of appreciability, hardcore and by-object restraints, to implement modifications to EU's current legal framework to ensure RPM receives reasonable and equitable treatment in line with economic theory"--

Download or read book Federal Trade Commission Reauthorization written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation and published by . This book was released on 1983 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book EU and US Competition Law Divided in Unity written by Csongor István Nagy and published by Ashgate Publishing, Ltd.. This book was released on 2013-02-28 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the structure of the rule on restrictive agreements in the context of vertical intra-brand price and territorial restraints, analysing, comparing and evaluating their treatment in US antitrust and EU competition law. It examines the concept of 'agreement' as the threshold question of the rule on restrictive agreements, the structure and focus of antitrust/competition law analysis, the treatment of vertical intra-brand price and territorial restrictions and their place in the test of antitrust/competition law. The treatment of vertical intra-brand restraints is one of the most controversial issues of contemporary competition law and policy, and there are substantial differences between the world's two leading regimes in this regard. In the US, resale price fixing merits an effects-analysis, while in the EU it is prohibited almost outright. Likewise, territorial protection is treated laxly in the US, while in the EU absolute territorial protection - due to the single market imperative - is strictly prohibited. Using a novel approach of legal analysis, this book will be of interest to academics and scholars of business and commercial law, international and comparative law.

Download or read book Minimum Resale Price Maintenance written by Elizabeth M. Bailey and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: On October 1, 2009, the State of Maryland enacted a statute that prohibits the use of minimum resale price maintenance (RPM). This was in response to the Supreme Court's 2007 Leegin decision that held that RPM should be evaluated under the rule of reason rather than be considered per se illegal. The Maryland statute provides a natural experiment that can be used to analyze the effect of RPM on retail prices. We analyze the effect of the statute on video game prices in Maryland. Video games were used for this analysis because video game manufacturers have been known to impose RPM. Employing a difference-in-differences approach, we find no effect of the Maryland statute on video game prices.

Download or read book Antitrust Division and Office of Legal Counsel of the Department of Justice written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law and published by . This book was released on 1986 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Irish Student Law Review written by and published by . This book was released on 2000 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book International Antitrust Law Policy Fordham Competition Law 2009 written by Barry E. Hawk and published by Juris Publishing, Inc.. This book was released on 2010-03-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every October the Fordham Competition Law Institute brings together leading figures from governmental organizations, leading international law firms and corporations and academia to examine and analyze the most important issues in international antitrust and trade policy of the United States, the EU and the world. This work is the most definitive and comprehensive annual analysis of international antitrust law and policy available anywhere. Each annual edition sets out to explore and analyze the areas of antitrust/competition law that have had the most impact in that year. Recent "hot topics" include antitrust enforcement in Asia, Latin America: competition enforcement in the areas of telecommunications, media and information technology. All of the chapters raise questions of policy or discuss new developments and assess their significance and impact on antitrust and trade policy. The chapters are revised and updated before publication when necessary. As a result, the reader receives up-to-date practical tips and important analyses of difficult policy issues. The annual volumes are an indispensable guide through the sea of international antitrust law. The Fordham Competition Law Proceedings are acknowledged as simply the most definitive US/EC annual analyses of antitrust/competition law published. Value Package + Buy International Antitrust Law and Policy: Fordham Competition Law 2009 - Downloadable Electronic Product and get International Antitrust Law & Policy: Fordham Competition Law 2009 at an additional 50% off our everyday low price. Total Price: $250.00 Price for the Bundle: $187.50 This Item: International Antitrust Law & Policy: Fordham Competition Law 2009 International Antitrust Law and Policy: Fordham Competition Law 2009 - Downloadable Electronic Product