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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
The U.S. Horizontal Merger Guidelines and guidelines issued by enforcement agencies around the world employ the hypothetical monopolist paradigm to delineate relevant markets, but they provide only an imprecise and incomplete algorithm for implementing that paradigm. This paper fills the gap by...
Persistent link: https://www.econbiz.de/10014110472
Microsoft's monopoly as it was claimed by the courts within their 'applications barrier to entry' theory. I claim that current … courts' underlying economic paradigm regarding the assessment of monopoly power in 'New Economy Network Markets' was strongly … influenced by BRIAN W. ARTHUR's theory of path dependence claiming (1) that high-technology markets being subject to network …
Persistent link: https://www.econbiz.de/10003958724
Various arguments attempting to resurrect the single monopoly profit theory of tying have been made, but none are … successful. The Seabright claim that it is supported by a lack of empirical proof fails because the single monopoly profit theory … is an impossibility theory, and my recommended exception applies to whatever empirical extent the necessary conditions …
Persistent link: https://www.econbiz.de/10014198073
structure. From situations where standard competition may be possible, they shift the market towards monopoly, betting on their …
Persistent link: https://www.econbiz.de/10014206793
problematic, particularly in dynamic markets, because economic theory does not often allow a confident prediction of what would … cases should be required to support their claims with a plausible theory and evidence, and that the burden should be greater …
Persistent link: https://www.econbiz.de/10014207444
monopoly profit. Some Harvard School theorists have argued that tying doctrine’s quasi-per se rule is misguided because tying … monopoly profits and harms consumer and total welfare, absent offsetting efficiencies. The quasi-per se rule is thus correct to …
Persistent link: https://www.econbiz.de/10014210407
relative to A. Hence, absent strong antitrust or intellectual property protections, the A firm can leverage its monopoly into B … substitute for Netscape; in our model, this maximizes Microsoft's joint monopoly profits. Furthermore, Microsoft has no incentive … complementary products, which suggests that a monopoly internet service provider will offer net neutrality.There are other means for …
Persistent link: https://www.econbiz.de/10012732764
This paper provides an economic and legal theory of harm applicable to the case against Google in Europe over search … bias. So far, no clear legal and economic theory has yet been delineated by the European Commission, nor consensus in the … literature has emerged with regard to the theory of foreclosure that could support the case, or with regard to the specific form …
Persistent link: https://www.econbiz.de/10012907930
this points to online platforms facing sleepless nights since any online platform that tries the quiet life of monopoly …
Persistent link: https://www.econbiz.de/10012951065