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The Law And Economics Of Price Discrimination In Modern Economies
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Book Synopsis The Law and Economics of Price Discrimination in Modern Economies by : Daniel J. Gifford
Download or read book The Law and Economics of Price Discrimination in Modern Economies written by Daniel J. Gifford and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the forms, goals, and results of price discrimination. It reviews various economic analyses and critiques of the three Pigovian types of price discrimination. It observes that economists' traditional concern with aggregate welfare has not, until recently, been accompanied by a similar concern by lawyers. Until the late twentieth century lawyers tended to focus on "fairness" instead. These different concerns have impeded mutual understanding, as have the various meanings that lawyers and economists have attributed to such basic terms as "monopoly power," "market power" and "competition" in the price discrimination context. The paper examines the principal laws of the United States and the European Union that deal with price discrimination, focusing especially on the Robinson-Patman Act and Article 82(c) of the Treaty Establishing the European Union. The paper compares the operation of these two provisions, finding superficial resemblances but significant differences in practice. While the Robinson-Patman Act was designed to prevent powerful buyers from forcing price concessions from often weak producers to the detriment of small buyers, enforcement of Article 82(c) is directed differently. Although the language of Article 82(c) suggests that it is designed to protect purchasers-for-resale from discrimination by their suppliers, the European Commission employs Article 82(c) to protect competitors from aggressive pricing by dominant (generally producer) firms. The paper also examines the developing law on loyalty rebates on both sides of the Atlantic, again finding that the approaches of the two jurisdictions differ significantly, at least as exemplified by the most recent cases. It distinguishes between loyalty rebates offered by the seller of a single product and those offered by a multi-product seller. The paper's main message is that price discrimination is an essential element in an effectively competitive economy and should be treated that way under the law.
Book Synopsis The Economics of Price Discrimination by : Louis Phlips
Download or read book The Economics of Price Discrimination written by Louis Phlips and published by Cambridge University Press. This book was released on 1983-06-30 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and unified explanation of how prices are determined in practice, written in a non-technical way.
Book Synopsis Handbook of Law and Economics by : A. Mitchell Polinsky
Download or read book Handbook of Law and Economics written by A. Mitchell Polinsky and published by Elsevier. This book was released on 2007-11-07 with total page 981 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions — for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the legal system are thus a natural subject of study by economists. Moreover, given the importance of law to the welfare of societies, the economic analysis of law merits prominent treatment as a subdiscipline of economics. This two volume Handbook is intended to foster the study of the legal system by economists.*The two volumes form a comprehensive and accessible survey of the current state of the field. *Chapters prepared by leading specialists of the area. *Summarizes received results as well as new developments.
Book Synopsis The Economics of Price Discrimination by : George Norman
Download or read book The Economics of Price Discrimination written by George Norman and published by Edward Elgar Publishing. This book was released on 1999 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together significant articles which have appeared between 1971 and 1997, analyzing the application and effects of price discrimination.
Book Synopsis The Economic Structure of Intellectual Property Law by : William M. LANDES
Download or read book The Economic Structure of Intellectual Property Law written by William M. LANDES and published by Harvard University Press. This book was released on 2009-06-30 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes a fresh look at the most dynamic area of American law today, comprising the fields of copyright, patent, trademark, trade secrecy, publicity rights, and misappropriation. Topics range from copyright in private letters to defensive patenting of business methods, from moral rights in the visual arts to the banking of trademarks, from the impact of the court of patent appeals to the management of Mickey Mouse. The history and political science of intellectual property law, the challenge of digitization, the many statutes and judge-made doctrines, and the interplay with antitrust principles are all examined. The treatment is both positive (oriented toward understanding the law as it is) and normative (oriented to the reform of the law). Previous analyses have tended to overlook the paradox that expanding intellectual property rights can effectively reduce the amount of new intellectual property by raising the creators' input costs. Those analyses have also failed to integrate the fields of intellectual property law. They have failed as well to integrate intellectual property law with the law of physical property, overlooking the many economic and legal-doctrinal parallels. This book demonstrates the fundamental economic rationality of intellectual property law, but is sympathetic to critics who believe that in recent decades Congress and the courts have gone too far in the creation and protection of intellectual property rights. Table of Contents: Introduction 1. The Economic Theory of Property 2. How to Think about Copyright 3. A Formal Model of Copyright 4. Basic Copyright Doctrines 5. Copyright in Unpublished Works 6. Fair Use, Parody, and Burlesque 7. The Economics of Trademark Law 8. The Optimal Duration of Copyrights and Trademarks 9. The Legal Protection of Postmodern Art 10. Moral Rights and the Visual Artists Rights Act 11. The Economics of Patent Law 12. The Patent Court: A Statistical Evaluation 13. The Economics of Trade Secrecy Law 14. Antitrust and Intellectual Property 15. The Political Economy of Intellectual Property Law Conclusion Acknowledgments Index Reviews of this book: Chicago law professor William Landes and his polymath colleague Richard Posner have produced a fascinating new book...[The Economic Structure of Intellectual Property Law] is a broad-ranging analysis of how intellectual property should and does work...Shakespeare's copying from Plutarch, Microsoft's incentives to hide the source code for Windows, and Andy Warhol's right to copyright a Brillo pad box as art are all analyzed, as is the question of the status of the all-bran cereal called 'All-Bran.' --Nicholas Thompson, New York Sun Reviews of this book: Landes and Posner, each widely respected in the intersection of law and economics, investigate the right mix of protection and use of intellectual property (IP)...This volume provides a broad and coherent approach to the economics and law of IP. The economics is important, understandable, and valuable. --R. A. Miller, Choice Intellectual property is the most important public policy issue that most policymakers don't yet get. It is America's most important export, and affects an increasingly wide range of social and economic life. In this extraordinary work, two of America's leading scholars in the law and economics movement test the pretensions of intellectual property law against the rationality of economics. Their conclusions will surprise advocates from both sides of this increasingly contentious debate. Their analysis will help move the debate beyond the simplistic ideas that now tend to dominate. --Lawrence Lessig, Stanford Law School, author of The Future of Ideas: The Fate of the Commons in a Connected World An image from modern mythology depicts the day that Einstein, pondering a blackboard covered with sophisticated calculations, came to the life-defining discovery: Time = $$. Landes and Posner, in the role of that mythological Einstein, reveal at every turn how perceptions of economic efficiency pervade legal doctrine. This is a fascinating and resourceful book. Every page reveals fresh, provocative, and surprising insights into the forces that shape law. --Pierre N. Leval, Judge, U.S. Court of Appeals, Second Circuit The most important book ever written on intellectual property. --William Patry, former copyright counsel to the U.S. House of Representatives, Judiciary Committee Given the immense and growing importance of intellectual property to modern economies, this book should be welcomed, even devoured, by readers who want to understand how the legal system affects the development, protection, use, and profitability of this peculiar form of property. The book is the first to view the whole landscape of the law of intellectual property from a functionalist (economic) perspective. Its examination of the principles and doctrines of patent law, copyright law, trade secret law, and trademark law is unique in scope, highly accessible, and altogether greatly rewarding. --Steven Shavell, Harvard Law School, author of Foundations of Economic Analysis of Law
Book Synopsis Handbook of Industrial Organization by : Richard Schmalensee
Download or read book Handbook of Industrial Organization written by Richard Schmalensee and published by North Holland. This book was released on 1989-09-11 with total page 1002 pages. Available in PDF, EPUB and Kindle. Book excerpt: Determinants of firm and market organization; Analysis of market behavior; Empirical methods and results; International issues and comparision; government intervention in the Marketplace.
Book Synopsis Predatory Pricing in Antitrust Law and Economics by : Nicola Giocoli
Download or read book Predatory Pricing in Antitrust Law and Economics written by Nicola Giocoli and published by Routledge. This book was released on 2014-01-10 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can a price ever be too low? Can competition ever be ruinous? Questions like these have always accompanied American antitrust law. They testify to the difficulty of antitrust enforcement, of protecting competition without protecting competitors. As the business practice that most directly raises these kinds of questions, predatory pricing is at the core of antitrust debates. The history of its law and economics offers a privileged standpoint for assessing the broader development of antitrust, its past, present and future. In contrast to existing literature, this book adopts the perspective of the history of economic thought to tell this history, covering a period from the late 1880s to present times. The image of a big firm, such as Rockefeller’s Standard Oil or Duke’s American Tobacco, crushing its small rivals by underselling them is iconic in American antitrust culture. It is no surprise that the most brilliant legal and economic minds of the last 130 years have been engaged in solving the predatory pricing puzzle. The book shows economic theories that build rigorous stories explaining when predatory pricing may be rational, what welfare harm it may cause and how the law may fight it. Among these narratives, a special place belongs to the Chicago story, according to which predatory pricing is never profitable and every low price is always a good price.
Book Synopsis Research Handbook on the Economics of Antitrust Law by : Einer Elhauge
Download or read book Research Handbook on the Economics of Antitrust Law written by Einer Elhauge and published by Edward Elgar Publishing. This book was released on 2012 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: One might mistakenly think that the long tradition of economic analysis in antitrust law would mean there is little new to say. Yet the field is surprisingly dynamic and changing. The specially commissioned chapters in this landmark volume offer a rigorous analysis of the field's most current and contentious issues. Focusing on those areas of antitrust economics that are most in flux, leading scholars discuss topics such as: mergers that create unilateral effects or eliminate potential competition; whether market definition is necessary; tying, bundled discounts, and loyalty discounts; a new theory of predatory pricing; assessing vertical price-fixing after Leegin; proving horizontal agreements after Twombly; modern analysis of monopsony power; the economics of antitrust enforcement; international antitrust issues; antitrust in regulated industries; the antitrust-patent intersection; and modern methods for measuring antitrust damages. Students and scholars of law and economics, law practitioners, regulators, and economists with an interest in industrial organization and consulting will find this seminal Handbook an essential and informative resource.
Book Synopsis The Economics of price discrimination by :
Download or read book The Economics of price discrimination written by and published by . This book was released on 1983 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Antitrust Paradox by : Robert Bork
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Price Discrimination: the Recent Conflict Between Economic and Legal Interpretations by : Benard Shull
Download or read book Price Discrimination: the Recent Conflict Between Economic and Legal Interpretations written by Benard Shull and published by . This book was released on 1954 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Race & Economics by : Walter E. Williams
Download or read book Race & Economics written by Walter E. Williams and published by Hoover Press. This book was released on 2013-09-01 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: Walter E. Williams applies an economic analysis to the problems black Americans have faced in the past and still face in the present to show that that free-market resource allocation, as opposed to political allocation, is in the best interests of minorities. He debunks many common labor market myths and reveals how excessive government regulation and the minimum-wage law have imposed incalculable harm on the most disadvantaged members of our society.
Book Synopsis United States Antitrust Law and Economics by : Einer Elhauge
Download or read book United States Antitrust Law and Economics written by Einer Elhauge and published by . This book was released on 2008 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt: This casebook presents a modern approach to understanding U.S. antitrust law, illuminating the economic analysis that dominates modern antitrust analysis in a straightforward way that minimizes technical jargon and makes the underlying economic concepts accessible to a broad audience. The cases are carefully edited to present the facts and issues clearly and succinctly, with the focus on extensive questions that probe those issues and show how to apply modern antitrust economic analysis to them. The result is a book that is quite compact, fewer than 800 pages, but covers the full waterfront of antitrust issues and generates plenty of multi-layered points and ideas to fill a class. All the recent Supreme Court antitrust cases are fully incorporated into the structure of the book, as are all the relevant agency guidelines. The merger section focuses on modern agency practices and merger theories, and selected cases that illustrate them, rather than on outdated Supreme Court cases that no longer describe current merger enforcement.
Book Synopsis Economic Inputs, Legal Outputs by : Fred McChesney
Download or read book Economic Inputs, Legal Outputs written by Fred McChesney and published by John Wiley & Sons. This book was released on 1998-06-11 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together a selection of articles which discuss the role of economists in the enforcement of antitrust law. Presents the various ways economists function in the world of antitrust. Includes econometric market delineation, monopolies, and antitrust analysis. Features dozens of antitrust legal proceedings as well as analyses of industrial organizations.
Book Synopsis The Law and Economics of International Trade Agreements by : Alan O. Sykes
Download or read book The Law and Economics of International Trade Agreements written by Alan O. Sykes and published by Edward Elgar Publishing. This book was released on 2023-05-09 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the pen of highly esteemed trade scholar Alan Sykes, this book presents a rigorous introduction to the law and economics of modern international trade agreements. With a bottom-up approach that requires neither a background in international trade law nor significant economics training, Sykes sets out to map and explain the complex dynamics of international trade agreements and institutions, synthesising legal analysis and cutting-edge economic research in order to present the reader with a sophisticated, holistic view of the field.
Book Synopsis The Economics of Discrimination by : Gary S. Becker
Download or read book The Economics of Discrimination written by Gary S. Becker and published by University of Chicago Press. This book was released on 2010-08-15 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition of Gary S. Becker's The Economics of Discrimination has been expanded to include three further discussions of the problem and an entirely new introduction which considers the contributions made by others in recent years and some of the more important problems remaining. Mr. Becker's work confronts the economic effects of discrimination in the market place because of race, religion, sex, color, social class, personality, or other non-pecuniary considerations. He demonstrates that discrimination in the market place by any group reduces their own real incomes as well as those of the minority. The original edition of The Economics of Discrimination was warmly received by economists, sociologists, and psychologists alike for focusing the discerning eye of economic analysis upon a vital social problem—discrimination in the market place. "This is an unusual book; not only is it filled with ingenious theorizing but the implications of the theory are boldly confronted with facts. . . . The intimate relation of the theory and observation has resulted in a book of great vitality on a subject whose interest and importance are obvious."—M.W. Reder, American Economic Review "The author's solution to the problem of measuring the motive behind actual discrimination is something of a tour de force. . . . Sociologists in the field of race relations will wish to read this book."—Karl Schuessler, American Sociological Review
Book Synopsis The Republic of Beliefs by : Kaushik Basu
Download or read book The Republic of Beliefs written by Kaushik Basu and published by Princeton University Press. This book was released on 2020-12-08 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: "[This book] argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily. Why are good laws drafted but never implemented? When laws are unenforced, is it a failure of the law or the enforcers? And, most important, considering that laws are simply words on paper, why are they effective? Basu offers a provocative alternative to how the relationship between economics and real-world law enforcement should be understood. Basu summarizes standard, neoclassical law and economics before looking at the weaknesses underlying the discipline. Bringing modern game theory to bear, he develops a 'focal point' approach, modeling not just the self-interested actions of the citizens who must follow laws but also the functionaries of the state: the politicians, judges, and bureaucrats enforcing them. He demonstrates the connections between social norms and the law and shows how well conceived ideas can change and benefit human behavior. For example, bribe givers and takers will collude when they are treated equally under the law. And in food support programs, vouchers should be given directly to the poor to prevent shop owners from selling subsidized rations on the open market. Basu provides a new paradigm for the ways that law and economics interact: a framework applicable to both less developed countries and the developed world"--Jacket.
