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Author: William H. Page Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Communication is useful and often necessary for rivals to coordinate price and output decisions. All would agree that evidence of communication on these issues is relevant to the issue of whether firms reached an illegal agreement or engaged in concerted action in violation of Section 1 of the Sherman Act. Most courts and commentators would go further and define agreement and concerted action to require communication of one kind or another. I call this view the objective theory of concerted action. Louis Kaplow has recently challenged this approach in three important articles, all of which argue that the focus on communications is misguided. Although he does not propose a fully specified definition, he suggests that a standard of successful oligopolistic interdependence -- in which rivals reach a meeting of the minds -- would provide a superior basis for identifying unlawful agreements. In this essay, I describe this subjective theory of concerted action and identify the equilibria that it includes and excludes. I then consider its likely costs and benefits relative to the current objective theory. I argue that it will deter few durable instances of oligopolistic interdependence that present law would not prohibit. On the other hand, it apparently immunizes some equilibria, even if reached through communication. If so, it would raise the possibility of new and problematic defenses to claims of illegal concerted action. Moreover, Kaplow excludes certain noncompetitive equilibria from the subjective standard on the ground that they do not involve the requisite meeting of minds. But these equilibria differ in only a few ways from other, strategic equilibria that arguably do involve the necessary meeting of minds. Reliance on the concept of a meeting of the minds to distinguish these equilibria would risk significant false positives.
Author: William H. Page Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Communication is useful and often necessary for rivals to coordinate price and output decisions. All would agree that evidence of communication on these issues is relevant to the issue of whether firms reached an illegal agreement or engaged in concerted action in violation of Section 1 of the Sherman Act. Most courts and commentators would go further and define agreement and concerted action to require communication of one kind or another. I call this view the objective theory of concerted action. Louis Kaplow has recently challenged this approach in three important articles, all of which argue that the focus on communications is misguided. Although he does not propose a fully specified definition, he suggests that a standard of successful oligopolistic interdependence -- in which rivals reach a meeting of the minds -- would provide a superior basis for identifying unlawful agreements. In this essay, I describe this subjective theory of concerted action and identify the equilibria that it includes and excludes. I then consider its likely costs and benefits relative to the current objective theory. I argue that it will deter few durable instances of oligopolistic interdependence that present law would not prohibit. On the other hand, it apparently immunizes some equilibria, even if reached through communication. If so, it would raise the possibility of new and problematic defenses to claims of illegal concerted action. Moreover, Kaplow excludes certain noncompetitive equilibria from the subjective standard on the ground that they do not involve the requisite meeting of minds. But these equilibria differ in only a few ways from other, strategic equilibria that arguably do involve the necessary meeting of minds. Reliance on the concept of a meeting of the minds to distinguish these equilibria would risk significant false positives.
Author: Jonathan B. Baker Publisher: Harvard University Press ISBN: 0674238958 Category : Law Languages : en Pages : 369
Book Description
A new and urgently needed guide to making the American economy more competitive at a time when tech giants have amassed vast market power. The U.S. economy is growing less competitive. Large businesses increasingly profit by taking advantage of their customers and suppliers. These firms can also use sophisticated pricing algorithms and customer data to secure substantial and persistent advantages over smaller players. In our new Gilded Age, the likes of Google and Amazon fill the roles of Standard Oil and U.S. Steel. Jonathan Baker shows how business practices harming competition manage to go unchecked. The law has fallen behind technology, but that is not the only problem. Inspired by Robert Bork, Richard Posner, and the “Chicago school,” the Supreme Court has, since the Reagan years, steadily eroded the protections of antitrust. The Antitrust Paradigm demonstrates that Chicago-style reforms intended to unleash competitive enterprise have instead inflated market power, harming the welfare of workers and consumers, squelching innovation, and reducing overall economic growth. Baker identifies the errors in economic arguments for staying the course and advocates for a middle path between laissez-faire and forced deconcentration: the revival of pro-competitive economic regulation, of which antitrust has long been the backbone. Drawing on the latest in empirical and theoretical economics to defend the benefits of antitrust, Baker shows how enforcement and jurisprudence can be updated for the high-tech economy. His prescription is straightforward. The sooner courts and the antitrust enforcement agencies stop listening to the Chicago school and start paying attention to modern economics, the sooner Americans will reap the benefits of competition.
Author: Dino Borri Publisher: Springer Science & Business Media ISBN: 9780792343264 Category : Technology & Engineering Languages : en Pages : 276
Book Description
This volume contains a selection of papers presented at the second workshop on Evaluation and Planning held at Centre International de Hautes Etudes Agronomiques Mediterraneennes (CIHEAM) in Valenzano (Bari) in November 1993. The workshop was financially and otherwise supported by the School of Engineering, Bari Polytechnic; the School of Agriculture, University of Bari; and CIHEAM. The publication of this book was made possible by to the efforts of the contributing authors. Several other persons have provided invaluable support for the workshop or the preparation of this volume. One of these is Patsy Healey for her fascinating challenge to Andreas Faludi's most recent arguments about rational planning theory. Another is John Friedmann whose lecture at the workshop presented world future scenarios depicting interaction between economic growth, social justice and ecological balance. Angela Barbanente provided marvelous support in organizing the workshop and editorial advice in the preparation of this volume. Jeremy Franks carefully improved the English and the clarity of all the papers. Carmelo Torre made a final editing of texts and images. We owe thanks to Maurizio Raeli for providing all the support services during the workshop and Claudia Baublys for her excellent help with various administrative issues with regard to the workshop and publication of this book. This book is dedicated to the memory of Professor Giovanni Grittani, Professor of Land Economics, University of Bari.
Author: Lynn McDonald Publisher: McGill-Queen's Press - MQUP ISBN: 9780773514089 Category : Philosophy Languages : en Pages : 412
Book Description
This study traces the methodological foundations, research techniques, and basic concepts of the social sciences from their earliest origins to the beginning of 20th century. It discusses the French Enlightenment, British moral philosophy and includes figures from the 19th century such as Marx.
Author: Víctor Yepes Publisher: MDPI ISBN: 3036504826 Category : Technology & Engineering Languages : en Pages : 228
Book Description
Construction is one of the main sectors that generates greenhouse gases. This industry consumes large amounts of raw materials, such as stone, timber, water, etc. Additionally, infrastructure should provide service over many years without safety problems. Therefore, their correct design, construction, maintenance, and dismantling are essential to reducing economic, environmental, and societal consequences. That is why promoting sustainable construction has recently become extremely important. To help address and resolve these types of questions, this book explores new ways of reducing the environmental impacts caused by the construction sector, as well promotes social progress and economic growth. The chapters collect the papers included in the “Sustainable Construction” Special Issue of the Sustainability journal. The papers cover a wide spectrum of issues related to the use of sustainable materials in construction, the optimization of designs based con sustainable indicators, the life-cycle assessment, the decision-making processes that integrate economic, social, and environmental aspects, and the promotion of durable materials that reduce future maintenance.
Author: William H. Page
Author: William H. Page
Author: Jonathan B. Baker
Author: Thomas K. Cheng
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Author: Simon Nelson Patten
Author: Dino Borri
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Author: Lynn McDonald
Author: Víctor Yepes
Author: Donald J. Reitz