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It is a long-standing antitrust principle that agency relationships are exempt from price fixing violations. But the agency relationship must be "genuine." To discern genuine agency agreements, the prevailing approach adopted in both the United States and the EU focuses on whether the agent has...
Persistent link: https://www.econbiz.de/10014163517
Contrary to some of the leading critiques of neoclassical theory, I argue that this theoretical framework can … market forces. Neoclassical theory, broadly defined, simply stresses the potential trade-off that exists between altruistic … neoclassical theory are too narrow to deal with the potential ramifications of introducing the moral dimension into the objective …
Persistent link: https://www.econbiz.de/10014047497
In this paper, we take a first step toward exploring empirically the product assortment strategies of oligopolistic firms. Our starting point is a discrete-choice demand model for differentiated products. We incorporate the demand model into an equilibrium supply model, in which firms compete by...
Persistent link: https://www.econbiz.de/10014047980
We analyze models of product differentiation with perfect price discrimination and free entry. Although perfect price discrimination ensures efficient output decisions given product characteristics, coordination failures may prevent efficiency in the choice of product characteristics. More...
Persistent link: https://www.econbiz.de/10014139755
, Evolution and Economic Theory; and furthered by Geoffrey Manne and Todd Zywicki in their recent paper titled Uncertainty …, Evolution, and Behavioral Economic Theory. Alchian’s thesis relied on an evolutionary understanding of firms’ activities in the … present work concludes that Alchian’s evolutionary theory does not account for the interpretation that economic actors render …
Persistent link: https://www.econbiz.de/10014138230
Both horizontal and vertical innovations are studied in this paper, using monopolistic and oligopolistic competition models with multiproduct firms. We consider a two-stage game. In the first stage, all firms simultaneously choose their own number of products. In the second stage, firms make...
Persistent link: https://www.econbiz.de/10014145399
theory, it recognizes that knowledge represents various challenges to more "closed" social science disciplines, notably …
Persistent link: https://www.econbiz.de/10014051315
This note uses a three-stage delegation-licensing-quantity game to study the licensing of a cost-reducing innovation by a patent-holding firm to its competitor. It is shown that licensing is less likely to occur under strategic delegation compared to no delegation
Persistent link: https://www.econbiz.de/10014053186
Using the data on 238 cartelized markets we evaluate econometrically the impact of cartel characteristics as well the market and legal environment of cartel operation on cartel stability. The latter is measured as the expected number of repeated attempts to form a cartel in the same product...
Persistent link: https://www.econbiz.de/10014055138
United States v. Terminal Railroad Association, the essential facilities doctrine has been applied to a wide variety of business contexts - from football stadiums to the New York Stock Exchange. However, courts have also declined to extend the doctrine to a wide variety of situations. Despite...
Persistent link: https://www.econbiz.de/10014071952