Law Commons^™

Predatory Pricing, George A. Hay

Cornell Law Faculty Publications

No abstract provided.

Anti-Trust And Economic Theory: Some Observations From The Us Experience, George A. Hay

Cornell Law Faculty Publications

Recent developments in US anti-trust can be characterised as reflecting the uneasy interaction of two quite separate phenomena: first, the increased emphasis on economic analysis as the overriding organising principle of anti-trust policy and on economic efficiency as the primary (perhaps only) relevant goal for anti-trust; second, the long-standing reluctance of the federal judiciary to involve itself in any substantive economic analysis, and the preference, instead, for simple rules of thumb or ‘pigeon holes’ to sort out lawful from unlawful conduct. The result has been that while economics has played a major role, it has not influenced American anti-trust as …

Pigeonholes In Antitrust, George A. Hay

Cornell Law Faculty Publications

The Economics Of Predatory Pricing, George A. Hay

Cornell Law Faculty Publications

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

Cornell Law Faculty Publications

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 …