We study the feasibility and profitability of predation in a dynamic environment, using a parsimonious infinite-horizon, complete information setting in which an incumbent repeatedly faces potential entry. When a rival enters, the incumbent chooses whether to accommodate or predate it; the...

We study the feasibility and profitability of predation in a dynamic environment, using a parsimonious infinite-horizon, complete information setting in which an incumbent repeatedly faces potential entry. When a rival enters, the incumbent chooses whether to accommodate or predate it; the...

Predatory pricing is a strategy firms use to suppress competition. The predator prices below its own costs to force its rivals out of the market. After they exit, the predator raises its prices to supracompetitive levels and recoups the cost of predation. The Supreme Court has described...

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...

A recent law article by then-Professor and now Congressman Tom Campbell observed: "Many argue that predation is impossible, and hence, enforcement of the antimonopolization provisions of the Sherman Act should not be based on this empty concept." The article mentions the Matsushita decision and...

We study the feasibility and profitability of predation in a parsimonious infinite-horizon, complete information setting where an incumbent may face an entrant, in which case it needs to decide whether to accommodate or predate it. If the entrant exits, a new entrant is born with positive...

We study the feasibility and profitability of predation in a parsimonious infinite-horizon, complete information setting where an incumbent may face an entrant, in which case it needs to decide whether to accommodate or predate it. If the entrant exits, a new entrant is born with positive...

We study the feasibility and profitability of predation in a parsimonious infinite-horizon, complete information setting where an incumbent may face an entrant, in which case it needs to decide whether to accommodate or predate it. If the entrant exits, a new entrant is born with positive...

We consider a dynamic platform competition in a market with network externalities. The incumbent platform enjoys a focal position such that consumers expect other consumers to join it, while the entrant platform may enjoy a quality advantage. We examine the effect of an antitrust policy that...

The debate about the implications of algorithms on competition law enforcement has so far focused on multi-firm conduct in general and collusion in particular. The implications of algorithms on abuse of dominance have been largely neglected. This article seeks to fill the gap in the existing...

We study entry into the American sugar refining industry before World War I. We show that the price wars following two major entry episodes were predatory. Our proof is twofold: by direct comparison of price to marginal cost, and by construction of predicted competitive price cost margins that...

I examine the outcomes of cases of entry by merchant shipping lines into established markets around the turn of the century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines. The cartel makes the decision whether or not to begin...

This paper incorporates the economic theory of predation into the theory of economic growth. The analytical framework is a dynamic general-equilibrium model of the interaction between two dynasties, one of which is a potential predator and the other is its prey. Each generation of each dynasty...

Competition in many important industries centers on investment in intellectual property. Firms engage in dynamic, Schumpeterian competition for the market, through sequential winner-take-all races to produce drastic innovations, rather than through static price/output competition in the market....

Der EuGH weist marktbeherrschenden Unternehmen eine Verantwortung für den Wettbewerb zu. Mit diesem Begründungstopos lässt sich ein Phänomen auf dem Markt rechtlich in den Griff bekommen, das ansonsten relativ schwer zu erfassen wäre, nämlich der sog. Marktmachttransfer, im Englischen...

Following the 2008 financial crisis, regulation mandates the clearing of the CDS market through Central Clearing Counter-parties (CCPs). Large CCPs are now designated as 'Global Systemically Important Institutions' (GSIIs), whose unlikely-but-plausible failure threatens global financial market...

Many hospitals' pricing practices cause unnecessary financial distress and disaster—sometimes even from minor injuries. Excessive hospital pricing also leads to unnecessary deaths and disability by discouraging vulnerable patients from seeking timely care. Hospitals frequently bill uninsured...

Both corporate theory and sex discrimination law start with presumptions that CEOs seek to advance legitimate ends and design the internal organization of business enterprises to achieve such ends. Yet, a growing literature questions why CEOs and boards of directors nonetheless select for...

Everyone has seen many products or services on which there is a huge discount which is offered by a large number of players. It is unbelievable to see how these products and services are offered at throwaway prices. Predatory pricing is a strategy whereby a powerful organization with deep...

We develop a model in which feedback effects from equity markets to firms' access to external finance allow uninformed traders to profit by short selling a firm's stock while going long on its competitors. Because this strategy distorts the investment incentives of the firm targeted by short...

The EUJS of 30 January 2020 ( České dráhy a.s. v. European Commission. Joined Cases C-538/18 P and C-539/18 P- ), has again dealt with the relationship between costs and prices in predatory practices when a dominant position is held. Taking into account all the cases already decided by the...

Recently, for standard asset classes, the first mutual clearing agreements between Central Coun- terparties (CCPs) have come into existence. There are already global concerns over the unique threats and benefits which arise from these situations, and further concern for an extension of agree-...

We analyze the interaction between firms' payout policies and their decisions in product markets in a continuous-time stochastic game between two firms. One of these is financially constrained, whereas the other is not. Contrary to the standard literature we allow firms to choose production and...

The technology industry has seen rapid growth over the last few decades and many populists and reformers seek to reign in this growth with amendments to various antitrust regulatory structures. This paper continues my previous analysis of these general reforms while specifically analyzing...

Economics as a social science is about exchange and the institutions within which exchange relationships are formed and transactions are executed. Yoram Barzel's contribution to economics and political economy reflect this focus on exchange and institutions. In this paper, I will sketch a theory...

The assumption on which much of antitrust law is based is that firms are rational, profit maximizers. Yet, the large firms of today prefer to grow aggressively by sacrificing profits. This paper argues that it is time for antitrust law to reconsider the assumption of profit maximization,...

One of Islam's five canonical pillars is a predictable, fixed, and mildly progressive tax system called zakat. It was meant to finance various causes typical of a pre-modern government. Implicit in the entire transfer system was personal property rights as well as constraints on government—two...

List of Figures; List of Tables; Chapter 1: Introduction; Chapter 2: Background; Chapter 3: Journals; Chapter 4: Publishers; Chapter 5: Stakeholders; Chapter 6: Hijacked Publishing; Chapter 7: Conferences; Chapter 8: Metrics and Indexes; Chapter 9: Conclusion; Appendix A; Appendix B; References;...