Antitrust Law and Economics

Antitrust Law and Economics

... in Economics from the University of Florida. He is the co-author of, with Jules
Theeuwes, Law and Economics; with Roger Blair, Monopsony Law and
Economics; and with E.T. Sullivan, Understanding Antitrust and its Economic
Implications.

Author: Keith N. Hylton

Publisher: Edward Elgar Publishing

ISBN: 9781849805285

Category: Law

Page: 298

View: 639

In this outstanding new book Professor Keith Hylton and his collaborators examine what antitrust law has become over the past ten years, a time in which economic analysis has become its undisputed core. What has become of the old antitrust doctrine, what are the new issues for the immediate future? This book brings together the leading experts to examine this silent revolution at the core of US domestic policy. Mark Grady, UCLA School of Law, US Hylton s Antitrust Law and Economics brings together many of the best authors writing in antitrust today. Their essays range widely, covering proof of agreement under the Sherman Act, group boycotts, monopolization and essential facilities, tying and other vertical restraints, and merger policy. The writing is clear, accessible but still technically sophisticated and comprehensive. This book represents the best in contemporary antitrust scholarship, by authors who understand and are able to communicate the centrality of economic analysis to antitrust. No antitrust lawyer, serious antitrust student, or antitrust economist should be without this book. Herbert Hovenkamp, University of Iowa College of Law, US This comprehensive book provides an extensive overview of the major topics of antitrust law from an economic perspective. Its in-depth treatment and analysis of both the law and economics of antitrust is presented via a collection of interconnected original essays. The contributing authors are among the most influential scholars in antitrust, with a rich diversity of backgrounds. Their entries cover, amongst other issues, predatory pricing, essential facilities, tying, vertical restraints, enforcement, mergers, market power, monopolization standards, and facilitating practices. This well-organized and substantial work will be invaluable to professors of American antitrust law and European competition law, as well as students specializing in competition law. It will also be an important reference for professors and graduate students of economics and business.
Categories: Law

Antitrust health care handbook

Antitrust health care handbook

2000). 26. See generally Dennis W. CARLTON & Jeffrey M. Perloff, Modern
Industrial Organization 93-99 (4th ed. 2005); E. Thomas Sullivan & Jeffrey L.
Harrison, Understanding Antitrust And Its Economic Implications 8-22 (5th ed.
2009); cf.

Author:

Publisher: American Bar Association

ISBN: 1616327685

Category: Antitrust law

Page:

View: 559

Categories: Antitrust law

Monopsony in Law and Economics

Monopsony in Law and Economics

Monopsony in Law and EconoMics Most readers are familiar with the concept of
a monopoly. ... Among the books he has published are Understanding Antitrust
and Its Economic Implications (with E. T. Sullivan); Law and Economics in a ...

Author: Roger D. Blair

Publisher: Cambridge University Press

ISBN: 9781139490979

Category: Business & Economics

Page:

View: 498

Most readers are familiar with the concept of a monopoly. A monopolist is the only seller of a good or service for which there are not good substitutes. Economists and policy makers are concerned about monopolies because they lead to higher prices and lower output. The topic of this book is monopsony, the economic condition in which there is one buyer of a good or service. It is a common misunderstanding that if monopolists raise prices, then monopsonists must lower them. It is true that a monopsonist may force sellers to sell to them at lower prices, but this does not mean consumers are better off as a result. This book explains why monopsonists can be harmful and the way law has developed to respond to these harms.
Categories: Business & Economics

International and Comparative Competition Law

International and Comparative Competition Law

... Federal Antitrust Policy: the Law of Competition and its Practice (Thomson
West, 2005); E. T. Sullivan and J. L. Harrison, Understanding Antitrust and its
Economic Implications (LexisNexis, 2003); R. J. R. Peritz, Competition Policy in
America ...

Author: Maher M. Dabbah

Publisher: Cambridge University Press

ISBN: 9781139492713

Category: Law

Page:

View: 500

This thorough appraisal of competition law and policy from an international and comparative perspective covers the role of different international organisations active in the area, the significance of multinational enterprises and, in particular, the differences between US and EU systems. Taking examples from regions such as Africa, the Middle East and Asia, Maher M. Dabbah looks at the law and policy in developing countries and at a regional level, the internationalisation of competition law and the doctrines of extraterritoriality, bilateral cooperation and multilateral cooperation as well as the relationship between competition and trade policy. The book should prove useful to anyone who is interested in gaining an insight into the international dimension of competition law and policy. It is written in a language and style which make such a complex topic both possible to understand and enjoyable.
Categories: Law

Handbook of Antitrust Economics

Handbook of Antitrust Economics

The Handbook of Antitrust Economics offers scholars, students, administrators, courts, companies, and lawyers the economist's view of the subject, describing the application of newly developed theoretical models and improved empirical ...

Author: Paolo Buccirossi

Publisher: Mit Press

ISBN: UOM:39015077605528

Category: Business & Economics

Page: 687

View: 124

Experts examine the application of economic theory to antitrust issues in both the United States and Europe, discussing mergers, agreements, abuses of dominance, and the impact of market features. Over the past twenty years, economic theory has begun to play a central role in antitrust matters. In earlier days, the application of antitrust rules was viewed almost entirely in formal terms; now it is widely accepted that the proper interpretation of these rules requires an understanding of how markets work and how firms can alter their efficient functioning. The Handbook of Antitrust Economics offers scholars, students, administrators, courts, companies, and lawyers the economist's view of the subject, describing the application of newly developed theoretical models and improved empirical methods to antitrust and competition law in both the United States and the European Union. (The book uses the U.S. term "antitrust law" and the European "competition law" interchangeably, emphasizing the commonalities between the two jurisdictions.) After a general discussion of the use of empirical methods in antitrust cases, the Handbook covers mergers, agreements, abuses of dominance (or unilateral conducts), and market features that affect the way firms compete. Chapters examine such topics as analyzing the competitive effects of both horizontal and vertical mergers, detecting and preventing cartels, theoretical and empirical analysis of vertical restraints, state aids, the relationship of competition law to the defense of intellectual property, and the application of antitrust law to "bidding markets," network industries, and two-sided markets. Contributors Mark Armstrong, Jonathan B. Baker, Timothy F. Bresnahan, Paulo Buccirossi, Nicholas Economides, Hans W. Friederiszick, Luke M. Froeb, Richard J. Gilbert, Joseph E. Harrington, Jr., Paul Klemperer, Kai-Uwe Kuhn, Francine Lafontaine, Damien J. Neven, Patrick Rey, Michael H. Riordan, Jean-Charles Rochet, Lars-Hendrick Röller, Margaret Slade, Giancarlo Spagnolo, Jean Tirole, Thibaud Vergé, Vincent Verouden, John Vickers, Gregory J. Werden
Categories: Business & Economics

The Causes and Consequences of Antitrust

The Causes and Consequences of Antitrust

Assessing 100 years of antitrust policy in the United States, this book shows that while the antitrust laws claim to serve the public good, they are as vulnerable to the influence of special interest groups as are agricultural, welfare, or ...

Author: Fred S. McChesney

Publisher: University of Chicago Press

ISBN: 0226556352

Category: Business & Economics

Page: 379

View: 254

Why has antitrust legislation not lived up to its promise of promoting free-market competition and protecting consumers? Assessing 100 years of antitrust policy in the United States, this book shows that while the antitrust laws claim to serve the public good, they are as vulnerable to the influence of special interest groups as are agricultural, welfare, or health care policies. Presenting classic studies and new empirical research, the authors explain how antitrust caters to self-serving business interests at the expense of the consumer. The contributors are Peter Asch, George Bittlingmayer, Donald J. Boudreaux, Malcolm B. Coate, Louis De Alessi, Thomas J. DiLorenzo, B. Epsen Eckbo, Robert B. Ekelund, Jr., Roger L. Faith, Richard S. Higgins, William E. Kovacic, Donald R. Leavens, William F. Long, Fred S. McChesney, Mike McDonald, Stephen Parker, Richard A. Posner, Paul H. Rubin, Richard Schramm, Joseph J. Seneca, William F. Shughart II, Jon Silverman, George J. Stigler, Robert D. Tollison, Charlie M. Weir, Peggy Wier, and Bruce Yandle.
Categories: Business & Economics

Antitrust Law and Economics of Product Distribution

Antitrust Law and Economics of Product Distribution

Antitrust Law and Economics of Product Distribution explores the economics of product distribution and examines whether the courts have formulated legal standards consistent with those economic principles - focusing on the sale of goods ...

Author: Thomas J. Collin

Publisher: American Bar Association

ISBN: 1590316975

Category: Business & Economics

Page: 413

View: 650

Antitrust Law and Economics of Product Distribution explores the economics of product distribution and examines whether the courts have formulated legal standards consistent with those economic principles - focusing on the sale of goods through dealers, distributors, and franchisees.
Categories: Business & Economics

Economics of Regulation and Antitrust

Economics of Regulation and Antitrust

This new edition of the leading text on business and government focuses on the insights economic reasoning can provide in analyzing regulatory and antitrust issues.

Author: W. Kip Viscusi

Publisher: MIT Press

ISBN: 9780262220750

Category: Business & Economics

Page: 927

View: 990

This new edition of the leading text on business and government focuses on the insights economic reasoning can provide in analyzing regulatory and antitrust issues. Departing from the traditional emphasis on institutions, Economics of Regulation and Antitrust asks how economic theory and empirical analyses can illuminate the character of market operation and the role for government action and brings new developments in theory and empirical methodology to bear on these questions. The fourth edition has been substantially revised and updated throughout, with new material added and extended discussion of many topics. Part I, on antitrust, has been given a major revision to reflect advances in economic theory and recent antitrust cases, including the case against Microsoft and the Supreme Court's Kodak decision. Part II, on economic regulation, updates its treatment of the restructuring and deregulation of the telecommunications and electric power industries, and includes an analysis of what went wrong in the California energy market in 2000 and 2001. Part III, on social regulation, now includes increased discussion of risk-risk analysis and extensive changes to its discussion of environmental regulation. The many case studies included provide students not only pertinent insights for today but also the economic tools to analyze the implications of regulations and antitrust policies in the future.The book is suitable for use in a wide range of courses in business, law, and public policy, for undergraduates as well at the graduate level. The structure of the book allows instructors to combine the chapters in various ways according to their needs. Presentation of more advanced material is self-contained. Each chapter concludes with questions and problems.
Categories: Business & Economics

The Economics of the Antitrust Process

The Economics of the Antitrust Process

In effect, we suggest that antitrust enforcement depends to a large degree on the
policies of the politicians, their appointees, and the bureaucrats, rather than the
courts. Thus, to understand antitrust enforcement, it is necessary to review the ...

Author: M.B. Coate

Publisher: Springer Science & Business Media

ISBN: 9781461313977

Category: Business & Economics

Page: 260

View: 515

This book focuses on the antitrust process and how that process affects the efficiency of antitrust law enforcement. The contributors share a wide range of experiences in the antitrust process, including academia, the legal environment, and both private and public sectors. The book deals first with merger activities, followed by non-merger enforcement initiatives and concludes with an examination of the future role of antitrust.
Categories: Business & Economics

Research Handbook on the Economics of Antitrust Law

Research Handbook on the Economics of Antitrust Law

Yet the field is surprisingly dynamic and changing. The specially commissioned chapters in this landmark volume offer a rigorous analysis of the field's most current and contentious issues.

Author: Einer Elhauge

Publisher: Edward Elgar Publishing

ISBN: 9780857938091

Category: Law

Page: 424

View: 794

One might mistakenly think that the long tradition of economic analysis in antitrust law would mean there is little new to say. Yet the field is surprisingly dynamic and changing. The specially commissioned chapters in this landmark volume offer a rigorous analysis of the field's most current and contentious issues. Focusing on those areas of antitrust economics that are most in flux, leading scholars discuss topics such as: mergers that create unilateral effects or eliminate potential competition; whether market definition is necessary; tying, bundled discounts, and loyalty discounts; a new theory of predatory pricing; assessing vertical price-fixing after Leegin; proving horizontal agreements after Twombly; modern analysis of monopsony power; the economics of antitrust enforcement; international antitrust issues; antitrust in regulated industries; the antitrust-patent intersection; and modern methods for measuring antitrust damages. Students and scholars of law and economics, law practitioners, regulators, and economists with an interest in industrial organization and consulting will find this seminal Handbook an essential and informative resource.
Categories: Law

Antitrust Economics

Antitrust Economics

The second edition of Antitrust Economics provides a thorough treatment of the economic theory that both motivates (and to varying degrees) guides the design and enforcement of the antitrust laws of the United States.

Author: Roger D. Blair

Publisher: Oxford University Press, USA

ISBN: STANFORD:36105064259976

Category: Law

Page: 481

View: 490

This book provides a thorough treatment of the economic theory that guides and motivates the design and enforcement of American antitrust laws. Along with a comprehensive analysis of both horizontal and vertical antitrust issues, economic theory is used to evaluate antitrust policy through theexamination of relevant legislation and landmark cases. Theory is discussed through its relation to policy issues, and in turn, the role of theory in the development of new policy is examined.
Categories: Law

Antitrust

Antitrust

(2) Dangers of use of antitrust itself as an anticompetitive device, especially
where lower prices (one of the goals of ... A counteroffensive was launched by
scholars and others who pointed out that antitrust had political and social as well
as economic implications, involving support of an open society ... interest which is
the chief definable objective and doubtless the bedrock of antitrust since its
origins.

Author:

Publisher: Law Journal Press

ISBN: 1588520196

Category:

Page:

View: 688

Categories:

Competition Innovation and Antitrust

Competition  Innovation  and Antitrust

This book reviews recent progress in the theory of oligopoly and market leadership and provides new results on the theory of Stackelberg competition and Nash competition with strategic investment under endogenous entry.

Author: Federico Etro

Publisher: Springer Science & Business Media

ISBN: 9783540496014

Category: Science

Page: 283

View: 686

This book reviews recent progress in the theory of oligopoly and market leadership and provides new results on the theory of Stackelberg competition and Nash competition with strategic investment under endogenous entry. These theories are applied to models of competition in quantities, prices and to patent races. The results are used to propose a new approach to competition policy and issues of the abuse of dominance.
Categories: Science

Dynamic Competition and Public Policy

Dynamic Competition and Public Policy

Found in the work of Porter (1980, 1985) and his associates, this explanation of
economic profits is derived from the ... scholars to understand the antitrust and
other policy implications of the capability explanations of economic profits they
have ...

Author: Jerry Ellig

Publisher: Cambridge University Press

ISBN: 0521782503

Category: Business & Economics

Page: 277

View: 363

Scholars explore antitrust issues as these relate to dynamic industry competition and public policy.
Categories: Business & Economics

Economics in Antitrust Policy

Economics in Antitrust Policy

The deterrence effect for such hardcore cartels, which arguably might not be
large enough even now, would also be ... idea of the respective approaches rests
on the basis that an economic analysis of a restraint in question can predict its
effects on welfare. ... Unfortunately, there is still too little empirical evidence on
most of the different vertical restraints and the respective theories explaining their
effects.

Author: Mark Steiner

Publisher: Universal-Publishers

ISBN: 9781581123708

Category: Business & Economics

Page: 191

View: 128

In the field of antitrust, the freedoms to contract and compete can and do contradict. Profit-maximizing companies desire perfectly competitive input markets to minimize their costs, but want monopolistic markets for their outputs to maximize their profits. Consequently, they have strong incentives to undermine competition in their output markets. In a world without antitrust laws, many companies would thus eliminate competition by using their freedom to contract, either by entering into legally enforceable agreements which fix prices or divide up markets, or by merging and acquiring rivals to gain market control. Therefore, guaranteeing and safeguarding companies' abilities to compete comes at the cost of restricting their freedoms to contract. The states role in this task is a delicate one though: government intervention itself necessarily limits the economic freedom of individuals and firms, and limiting the freedom of contract has potentially detrimental effects on economic activity as well. Hence, antitrust policy must find the right balance between the two freedoms of competition and contract, allowing competition to flourish while upholding the contractual freedoms necessary for a functioning market. The policies in the U.S. and Europe used to protect competition with per se rules, setting clear boundaries for the freedom to contract where it interfered with the freedom to compete. Over the past decades, improvements in economic analysis provided measurable dimensions for 'competition' through measures like efficiency and welfare. With these new and complex economic tools, the aim of an antitrust policy moved away from an 'indirect' mechanism which provided and enforced a strict framework of negative per se rules within which the competitive process was allowed to happen. The current policies directly aim at promoting welfare by attempting to 'balance' the welfare effects of individual business practices, permitting contracts or mergers with benign effects and prohibiting contracts with detrimental effects on welfare in potentially every case. These economic insights have promoted a better understanding of the competitive process and contributed to improved antitrust rules. However, in the actual enforcement of antitrust laws, recent developments caused by the influence of economic analysis have had a detrimental impact on antitrust policy in both the U.S. and the EU. First, it increased the discretion of competition authorities, lowering legal certainty for companies and increasing the potential for wrong decisions. Second, it gave companies incentives to waste resources on rent seeking activities by using economic analyses to demonstrate efficiencies in complicated and timely investigations and litigation. And third, the predominant use of economic analysis has massively increased the costs of enforcement. This thesis is the first one to depict these negative effects caused by recent developments and shows that a policy with clear limitations through proposed per se rules would be superior for it would eliminate the illustrated negative effects.
Categories: Business & Economics

The Oxford Handbook of International Antitrust Economics Volume 1

The Oxford Handbook of International Antitrust Economics  Volume 1

from an economic perspective, such a multilevel lead jurisdiction model appears
to be welfaresuperior to these alternatives. ... ICN when it seriously strives to
solve the economic problems of international antitrust in its second or third
decade. ... The ICN has considerably contributed to alleviate the negative
economic effects ...

Author: Roger D. Blair

Publisher: Oxford University Press

ISBN: 9780190201609

Category: Business & Economics

Page: 576

View: 415

More than any other area of regulation, antitrust economics shapes law and policy in the United States, the Americas, Europe, and Asia. In a number of different areas of antitrust, advances in theory and empirical work have caused a fundamental reevaluation and shift of some of the assumptions behind antitrust policy. This reevaluation has profound implications for the future of the field. The Oxford Handbook of International Antitrust Economics has collected chapters from many of the leading figures in antitrust. In doing so, this two volume Handbook provides an important reference guide for scholars, teachers, and practitioners. However, it is more than a merely reference guide. Rather, it has a number of different goals. First, it takes stock of the current state of scholarship across a number of different antitrust topics. In doing so, it relies primarily upon the economics scholarship. In some situations, though, there is also coverage of legal scholarship, case law developments, and legal policies. The second goal of the Handbook is to provide some ideas about future directions of antitrust scholarship and policy. Antitrust economics has evolved over the last 60 years. It has both shaped policy and been shaped by policy. The Oxford Handbook of International Antitrust Economics will serve as a policy and research guide of next steps to consider when shaping the future of the field of antitrust.
Categories: Business & Economics

Competition Laws in Conflict

Competition Laws in Conflict

Moreover, states have powerful incentives to permit domestic industries to exploit outsiders, or even to facilitate such practices.

Author: Richard Allen Epstein

Publisher: American Enterprise Institute

ISBN: 0844742015

Category: Law

Page: 381

View: 698

Moreover, states have powerful incentives to permit domestic industries to exploit outsiders, or even to facilitate such practices. High-profile antitrust conflicts, from the prosecution of Microsoft in state, national, and international forums to the transatlantic disagreement over the European Union's merger policy, illustrate the difficulties. Possible solutions to these problems range from improved intergovernmental cooperation, to direct policy harmonization, to a new regime of "structured competition" in antitrust policy modeled on U.S. corporation law.
Categories: Law

New Frontiers in Economics

New Frontiers in Economics

Their critique of antitrust doctrine as it had emerged in the 1960s and 1970s
revolutionized the field, so much so that ... at Harvard also labored to understand
the economic implications of negligence, strict liability, joint and several liability,
and ...

Author: Distinguished Professor of Economics Lubin Business School Michael Szenberg

Publisher: Cambridge University Press

ISBN: 0521545366

Category: Business & Economics

Page: 318

View: 882

This book brings together essays from leading economists analyzing the new directions that subdisciplines of economics have taken in the face of modern economic challenges. The essays represent invention and discovery in the areas of information, macroeconomics and public policies, international trade and development, finance, business, contracts, law, gaming, and government, as these areas of study evolve through the different phases of the scientific process. It offers not only a wealth of factual information on the current state of the economy, but also theoretical and empirical innovations that conceptualize reality and values in different ways from their predecessors.
Categories: Business & Economics

Merger Standards Under U S Antitrust Laws

Merger Standards Under U S  Antitrust Laws

adverse effect on competition throughout the economy, and that aside from its
economic consequences, aggregate concentration has undesirable social and
political consequences about which antitrust law ought to be concerned.
Economists ...

Author: American Bar Association. Merger Standards Task Force

Publisher: American Bar Association

ISBN: 0897070437

Category: Antitrust law

Page: 222

View: 573

This work focuses on the evaluation of mergers. Present methods of evaluating mergers are discussed along with suggestions for changes in these methods.
Categories: Antitrust law