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Antitrust economics is a field that draws extensively on the economic theory of industrial organization, and the field's frontier is at the cutting edge of economic research. This book bridges the gap between introductory texts and advanced research volumes by presenting select themes in antitrust economics and modeling. All from a neoclassical perspective, the author begins by discussing classic monopoly, continues to add more markets to the mix—via spillover effects and horizontal/vertical mergers—and then explores logical ties to international trade and regulated industries. While brief and selective, the method provides a basic analytical reference point for approaching special antitrust topics not covered here, such as tying, bundling, and exclusive dealing. Such analytics are sometimes likened to a rational defense of monopoly and related anti-competitive behavior, but are essential to explicating antitrust economics from a mainstream Western economic vantage.
Reorganized for increased accessibility, The 1997 edition of ANTITRUST ANALYSIS presents coverage of current issues with the same incisive -- and effective -- approach that has earned the book its premier reputation in the field. The distinctive emphasis on textual explanations that has always characterized Antitrust Analysis continues in the Fifth Edition. These strong textual discussions convey essential background information and necessary economic principles. Further, less significant cases have been trimmed. The authors' vast expertise in antitrust and economics is shown in a casebook of truly unrivaled quality. ANTITRUST ANALYSIS, Fifth Edition, opens with a clear introduction To The history of antitrust law and a cogent presentation of important economics material. The authors then explore: horizontal agreements monopolization vertical agreements mergers price discrimination Reflecting ongoing movement in the antitrust arena, Areeda and Kaplow now address new developments in: intellectual property health care international aspects of antitrust law
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
This volume presents six new papers on environmental and energy economics and policy in the United States. Rebecca Davis, J. Scott Holladay, and Charles Sims analyze recent trends in and forecasts of coal-fired power plant retirements with and without new climate policy. Severin Borenstein and James Bushnell examine the efficiency of pricing for electricity, natural gas, and gasoline. James Archsmith, Erich Muehlegger, and David Rapson provide a prospective analysis of future pathways for electric vehicle adoption. Kenneth Gillingham considers the consequences of such pathways for the design of fuel vehicle economy standards. Frank Wolak investigates the long-term resource adequacy in wholesale electricity markets with significant intermittent renewables. Finally, Barbara Annicchiarico, Stefano Carattini, Carolyn Fischer, and Garth Heutel review the state of research on the interactions between business cycles and environmental policy.
This study analyzes organization of economic activity within and between markets and hierarchies. It considers the transaction to be the ultimate unit of microeconomic analysis, and defines hierarchical transactions as ones for which a single administrative entity spans both sides of the transaction, some form of subordination prevails and, typically, consolidated ownership obtains. Discusses the advantages of the transactional approach by examining three issues: price discrimination, insurance, and vertical integration. Develops the concept of the organizational failure framework, and demonstrates why it is always the combination of human with environmental factors, not either taken by itself, that causes transactional problems. The study also describes each of the transactional relations of interest, and presents the advantages of internal organization with respect to the transactional condition. The analysis explains why primary work groups of the peer group and simple hierarchy types arise. The same transactional factor which impede autonomous contracting between individuals also impede market exchange between technologically separable work groups. Peer groups can be understood as an internal organizational response to the frictions of intermediate product markets, while conglomerate organization can be seen as a response to failures in the capital market. In both contexts, the same human factors, such as bounded rationality and opportunism, occur. Examines the reasons for and properties of the employment relation, which is commonly associated with voluntary subordination. The analysis attempts better to assess the employment relation in circumstances where workers acquire, during the course of the employment, significant job-specific skills and knowledge. The study compares alternative labor-contracting modes and demonstrates that collective organization is helpful in enhancing the acquisition of idiosyncratic knowledge and skills by the work force. The study then examines more complex structures -- the movement from simple hierarchies to the vertical integration of firms, then multidivisional structures, conglomerates, monopolies and oligopolies. Discusses the market structure in relation to technical and organizational innovation. The study proposes a systems approach to the innovation process. Its purpose is to permit the realization of the distinctive advantages of both small and large firms which apply at different stages of the innovation process. The analysis also examines the relation of organizational innovation to technological innovation. (AT).
A conspicuous feature of the modern economy is the multitude of multiunit systems that operate in several markets - an organizational form that arguably rivals the "M-form" as the 20th century's most successful. Research traditions studying multiunit systems include the multimarket perspective, which has used commitment and mutual forbearance theory, and the multiunit perspective, which has used learning and knowledge transfer theory. These perspectives are interdisciplinary, but to date there has been little direct interaction among them. This text aims to bring these areas together, discussing such things as: examining how variation in firm capabilities affects the co-ordination of branches and thus their forbearance or transfer of routines; bridging theories of market conduct and internal behaviour to explore how knowledge about markets and competitor behaviour is transferred among organizational units; making a theory of contingent multiunit or single-unit competitive advantage that can account for the coexistence of these organizational forms in many markets; and examining the effects of firm contacts in alliances or technological fields on their competitive behaviours.
This book combines practical guidance and theoretical background for analysts using empirical techniques in competition and antitrust investigations. Peter Davis and Eliana Garcés show how to integrate empirical methods, economic theory, and broad evidence about industry in order to provide high-quality, robust empirical work that is tailored to the nature and quality of data available and that can withstand expert and judicial scrutiny. Davis and Garcés describe the toolbox of empirical techniques currently available, explain how to establish the weight of pieces of empirical work, and make some new theoretical contributions. The book consistently evaluates empirical techniques in light of the challenge faced by competition analysts and academics--to provide evidence that can stand up to the review of experts and judges. The book's integrated approach will help analysts clarify the assumptions underlying pieces of empirical work, evaluate those assumptions in light of industry knowledge, and guide future work aimed at understanding whether the assumptions are valid. Throughout, Davis and Garcés work to expand the common ground between practitioners and academics.
This book examines the economics of multi-plant operation of manufacturing firms in national industries, analyzing the experience of twelve industries in West Germany, France, the United Kingdom, Sweden, Canada, and the United States.
This book further develops both the traditional and the behavioural approach to competition law, and applies these approaches to a variety of timely issues. It discusses several fundamental questions regarding competition law and economics, and explores the applications of competition law and economics. In turn, the book analyses the interplay of intellectual property rights and patents in various aspects of competition law, and investigates the impacts that developments in information technology, such as big data analytics, have on competition law. The book also discusses the impact of energy law reforms on energy markets from a competition law perspective. Competition law is a classic field of economic analysis. This is largely due to the fact that competition law uses terms such as market, price, and competition and must therefore rely on economic know-how and analyses. In the United States, economic analysis has greatly influenced not just the scholarship on antitrust law, but also judicial decisions and agency enforcement. Antitrust law and economics are based on the traditional paradigm of neoclassical economics, which relies on the assumption that the market players, i.e. consumers and producers, are rational. This approach to competition law was later received in Europe under the banner of a “more economic approach”. For the past two decades, behavioural law and economics, which seeks to generate better insights into legal phenomena by providing more realistic psychological foundations for economic models, and to offer a multitude of applications in legislation and legal adjudication, has challenged the traditional economic approach to law in general and, more recently, to competition law specifically.