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The Third Circuit's decision in Lepage's v. 3M created a great deal of uncertainty about the legality of so-called bundled discounts - i.e., discounts (or rebates) conditioned upon purchasing multiple products from disparate product markets. This paper, prepared for a joint Department of...
Persistent link: https://www.econbiz.de/10014054231
This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...
Persistent link: https://www.econbiz.de/10014023495
theory of access to an essential facility in an unregulated environment. It considers a wide array of contexts: possibility … private costs and benefits of foreclosure. The chapter then turns to horizontal foreclosure , where the monopoly good is sold … adjacent markets or at protecting the monopoly market. Finally, the chapter tackles exclusive customer contracts and discusses …
Persistent link: https://www.econbiz.de/10014024583
We develop a unified theory of exclusive dealing and exclusionary bundling. In a framework with two competing … theory holds when the buyer power differs across manufacturers or when the retailer can strategically narrow (or expand) its …
Persistent link: https://www.econbiz.de/10013226720
market power is a cornerstone of competition law regimes worldwide. Yet notwithstanding the social costs of monopoly modern …." Importantly, anticompetitive conduct can take place both on the road to monopoly and, later on, once substantial market power has …
Persistent link: https://www.econbiz.de/10014045843
Economic analysis of competition regulation is most developed in the domain of horizontal mergers, and modern agency guidelines reflect a substantial consensus on the appropriate template for merger assessment. Nevertheless, official protocols are understood to rest on a problematic market...
Persistent link: https://www.econbiz.de/10012428221
Platforms like Uber, Google Search, and Hulu pervade the modern economic landscape. A platform caters to distinct but deeply-interdependent “sides” of customers that derive value or revenues from one another, such as the merchants and cardholders on a credit card network, or the advertisers...
Persistent link: https://www.econbiz.de/10012914121
Large platforms are often accused of refusing to serve (or discriminating against) competing sellers in adjacent product markets. Antitrust law labels such activity a unilateral “refusal to deal” (RTD) and evaluates it under a predation-like framework shaped by the two leading RTD cases,...
Persistent link: https://www.econbiz.de/10014345234
Complexity science is widely used across the policy spectrum but not in antitrust. This is unfortunate. Complexity science enables a rich understanding of competition beyond the simplistic descriptions of markets and firms proposed by neoclassical models and their contemporary neo-Brandeisian...
Persistent link: https://www.econbiz.de/10013296286
We re-consider the bilateral bargaining problem of a multi-product, manufacturer-retailer trading relationship. O'Brien and Shaffer (Rand JE 35:573-598, 2005) have shown that the unbundling of contracts leads to downward distorted production levels if seller power is strong, while otherwise the...
Persistent link: https://www.econbiz.de/10012139155