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- Predatory pricing (4)
- Sherman Act (2)
- Vertical restraints (2)
- Antitrust Division of the US Department of Justice (1)
- Areeda-Turner rule (1)
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- Areeda-Turner test (1)
- Australian Centre for Law and Economics (1)
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- Frederic M. Scherer (1)
- Henry Manne (1)
- Inc (1)
- Inc. v. GTE Sylvania (1)
- Joskow-Klevorick rule (1)
- Market power (1)
- Market share (1)
- Monopoly power (1)
- Monsanto Co. v. Spray-Rite Service Corp. (1)
- Posner rule (1)
- Production-inventory type models (1)
- Profit-maximizing decision rules (1)
- Restraint on alienation (1)
Articles 1 - 9 of 9
Full-Text Articles in Law
Vertical Restraints After Monsanto, George A. Hay
Vertical Restraints After Monsanto, George A. Hay
George A. Hay
The decision in Monsanto Co. v. Spray-Rite Service Corp. represents the Supreme Court's latest effort to articulate the standards governing vertical restraints of trade under the United States anti-trust law. It is unlikely that this will be the last time the Court addresses this topic. Notwithstanding the many Supreme Court decisions in this area, several issues remain unresolved. Indeed, Monsanto may have created (or resurrected) as many new questions as it answered, a phenomenon characteristic of most prior opinions in this area. At least part of the reason for this unsettled state is that, from the outset, the Supreme Court …
The Dynamics Of Firm Behavior Under Alternative Cost Structures, George A. Hay
The Dynamics Of Firm Behavior Under Alternative Cost Structures, George A. Hay
George A. Hay
A large and growing number of studies attempt to determine the important factors affecting firms' decisions with respect to price, output, and inventories. A striking feature of this literature is the embarrassingly large number of alternative models—all allegedly consistent with the principles of profit maximization—which are used to justify various reduced form or behavioral equations to be estimated with the appropriate firm or industry data. It is rare, however, that the equations to be estimated are derived rigorously from the underlying model. Because of this, the restrictions placed on the equations to be estimated are often limited at worst to …
Market Power In Antitrust, George A. Hay
Market Power In Antitrust, George A. Hay
George A. Hay
The concept of market power is at the core of antitrust. Philosophically, antitrust policy is aimed primarily at preventing firms from achieving, retaining, or abusing market power. Operationally, assessing whether a firm or firms have market power or any reasonable prospect for achieving it is often the first (and sometimes, the only) step in performing an antitrust analysis. Few would dispute that market power should play a prominent role in antitrust analysis. Nevertheless, important questions remain. Some of these questions quite naturally focus on the precise degree of importance given to market power. Is it an essential ingredient in antitrust …
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 …
The Past, Present, And Future Of Law And Economics, George A. Hay
The Past, Present, And Future Of Law And Economics, George A. Hay
George A. Hay
Any discussion about law and economics ought to begin with a definition or at least an explanation of what it is we are talking about. There is, however, a risk in starting there. Just as classics scholars may debate endlessly about who precisely should be counted as a classicist or philosophers might debate who can properly be counted as a Kantian, there is likely to be no consensus about precisely what counts as law and economics or who is doing it. Indeed, the acknowledged superstar and chief guru of the law and economics movement, Judge Richard Posner, has argued that, …
Vertical Restraints, George A. Hay