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Predatory Pricing, George A. Hay
Pigeonholes In Antitrust, George A. Hay
The Economics Of Predatory Pricing, George A. Hay
The Economics Of Predatory Pricing, George A. Hay
George A. Hay
The revival of interest among economists in predatory pricing, spawned by Areeda and Turner's 1975 article, and the tidal wave of literature which has followed, creates a serious problem for the lawyer interested in keeping up with what economists are saying on the subject. Articles appearing in the standard economics journals are often inaccessible, due to the advanced level of mathematics normally employed, and seem of little apparent relevance, due to the detailed but often artificially sounding assumptions used to generate conclusions. The materials appearing in law reviews, while perhaps less technical, is voluminous and not always original, Worst of …
Predatory Pricing: Competing Economic Theories And The Evolution Of Legal Standards, Joseph F. Brodley, George A. Hay
Predatory Pricing: Competing Economic Theories And The Evolution Of Legal Standards, Joseph F. Brodley, George A. Hay
George A. Hay
Recent years have witnessed a virtual explosion in the legal and economic literature dealing with predatory pricing. Equally dramatic has been the swift adoption by several courts of policy conclusions derived from this literature—a development that is startling, given the complexity and volume of the literature and the lack of consensus among legal and economic scholars. The result has been to raise an acute problem for lawyers and judges who must assess the validity and applicability of competing economic models, mold stubborn and unruly facts to fit abstract economic theories, translate economic theories into legal doctrines, and resolve puzzling cost …
Predatory Pricing, Aaron S. Edlin
Predatory Pricing, Aaron S. Edlin
Aaron Edlin
Judge Breyer famously worried that aggressive prohibitions of predatory pricing throw away a bird in hand (low prices during the alleged predatory period) for a speculative bird in the bush (preventing higher prices thereafter). Here, I argue that there is no bird in hand because entry cannot be presumed. Moreover, it is plausibly commonplace that low prices or the threat of low prices produce anticompetitive results by reducing entry, inducing exit, and keeping prices high. I analyze three potential standards for identifying predatory pricing. Two are traditional but have been tangled together and must be distinguished. First, a price-cost test …