Author: M.B. Coate Publisher: Springer Science & Business Media ISBN: 146131397X Category : Business & Economics Languages : en Pages : 265
Book Description
This book focuses on the antitrust process and how that process affects the efficiency of antitrust law enforcement. The contributors share a wide range of experiences in the antitrust process, including academia, the legal environment, and both private and public sectors. The book deals first with merger activities, followed by non-merger enforcement initiatives and concludes with an examination of the future role of antitrust.
Author: W. Kip Viscusi Publisher: MIT Press ISBN: 026222075X Category : Business & Economics Languages : en Pages : 955
Book Description
A substantially revised and updated new edition of the leading text on business and government, with new material reflecting recent theoretical and methodological advances; includes further coverage of the Microsoft antitrust case, the deregulation of telecommunications and electric power, and new environmental regulations. This new edition of the leading text on business and government focuses on the insights economic reasoning can provide in analyzing regulatory and antitrust issues. Departing from the traditional emphasis on institutions, Economics of Regulation and Antitrust asks how economic theory and empirical analyses can illuminate the character of market operation and the role for government action and brings new developments in theory and empirical methodology to bear on these questions. The fourth edition has been substantially revised and updated throughout, with new material added and extended discussion of many topics. Part I, on antitrust, has been given a major revision to reflect advances in economic theory and recent antitrust cases, including the case against Microsoft and the Supreme Court's Kodak decision. Part II, on economic regulation, updates its treatment of the restructuring and deregulation of the telecommunications and electric power industries, and includes an analysis of what went wrong in the California energy market in 2000 and 2001. Part III, on social regulation, now includes increased discussion of risk-risk analysis and extensive changes to its discussion of environmental regulation. The many case studies included provide students not only pertinent insights for today but also the economic tools to analyze the implications of regulations and antitrust policies in the future.The book is suitable for use in a wide range of courses in business, law, and public policy, for undergraduates as well at the graduate level. The structure of the book allows instructors to combine the chapters in various ways according to their needs. Presentation of more advanced material is self-contained. Each chapter concludes with questions and problems.
Author: Mark Steiner Publisher: Universal-Publishers ISBN: 1581123701 Category : Business & Economics Languages : en Pages : 200
Book Description
In the field of antitrust, the freedoms to contract and compete can and do contradict. Profit-maximizing companies desire perfectly competitive input markets to minimize their costs, but want monopolistic markets for their outputs to maximize their profits. Consequently, they have strong incentives to undermine competition in their output markets. In a world without antitrust laws, many companies would thus eliminate competition by using their freedom to contract, either by entering into legally enforceable agreements which fix prices or divide up markets, or by merging and acquiring rivals to gain market control. Therefore, guaranteeing and safeguarding companies' abilities to compete comes at the cost of restricting their freedoms to contract. The states role in this task is a delicate one though: government intervention itself necessarily limits the economic freedom of individuals and firms, and limiting the freedom of contract has potentially detrimental effects on economic activity as well. Hence, antitrust policy must find the right balance between the two freedoms of competition and contract, allowing competition to flourish while upholding the contractual freedoms necessary for a functioning market. The policies in the U.S. and Europe used to protect competition with per se rules, setting clear boundaries for the freedom to contract where it interfered with the freedom to compete. Over the past decades, improvements in economic analysis provided measurable dimensions for 'competition' through measures like efficiency and welfare. With these new and complex economic tools, the aim of an antitrust policy moved away from an 'indirect' mechanism which provided and enforced a strict framework of negative per se rules within which the competitive process was allowed to happen. The current policies directly aim at promoting welfare by attempting to 'balance' the welfare effects of individual business practices, permitting contracts or mergers with benign effects and prohibiting contracts with detrimental effects on welfare in potentially every case. These economic insights have promoted a better understanding of the competitive process and contributed to improved antitrust rules. However, in the actual enforcement of antitrust laws, recent developments caused by the influence of economic analysis have had a detrimental impact on antitrust policy in both the U.S. and the EU. First, it increased the discretion of competition authorities, lowering legal certainty for companies and increasing the potential for wrong decisions. Second, it gave companies incentives to waste resources on rent seeking activities by using economic analyses to demonstrate efficiencies in complicated and timely investigations and litigation. And third, the predominant use of economic analysis has massively increased the costs of enforcement. This thesis is the first one to depict these negative effects caused by recent developments and shows that a policy with clear limitations through proposed per se rules would be superior for it would eliminate the illustrated negative effects.
Author: James Langenfeld Publisher: Emerald Group Publishing ISBN: 1800710240 Category : Business & Economics Languages : en Pages : 161
Book Description
The Law and Economics of Patent Damages, Antitrust, and Legal Process examines several areas of important research by a variety of international scholars. Areas include technical papers on the appropriate way to estimate damages in patent disputes and methods for evaluating relevant markets.
Author: Marc Allen Eisner Publisher: UNC Press Books ISBN: 1469639777 Category : Political Science Languages : en Pages : 334
Book Description
Some of the chief aims of President Ronald Reagan's economic agenda were to reduce the "regulatory burden," minimize state intervention, and reinvigorate market mechanisms. Toward these ends, his administration limited antitrust enforcement to technical cases of price-fixing, invoking the doctrine of the Chicago school of economics. In Antitrust and the Triumph of Economics, Marc Eisner shows that the so-called "Reagan revolution" was but an extension of well-established trends. He examines organizational and procedural changes in the Antitrust Division of the Department of Jusice and the Federal Trade Commission that predated the 1980 election and forced the subsequent redefinition of policy. During their early years, the Antitrust Division and the FTC gave little attention to economic analysis. In the period following World War II, however, economic analysis assumed an increasingly important role in both agencies, and economists rose in status from being members of support staff to being pivotal decision makers who, in effect, shaped the policies for which elected officials were generally assumed to be responsible. In the 1960s and 1970s, critical shifts in prevailing economic theory within the academic community were transmitted into the agencies. This had a profound effect on how antitrust was conceptualized in the federal government. Thus, when Ronald Reagan became president in 1981, the antitrust agencies were already pursuing a conservative enforcement program. Eisner's study challenges dominant explanations of policy change through a focus on institutional evolution. It has important implications for current debates on the state, professionalization, and the delegation of authority. Originally published in 1991. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.
Author: John E. Kwoka Publisher: Oxford University Press, USA ISBN: 9780199315499 Category : Antitrust law Languages : en Pages : 0
Book Description
Fully updated to reflect important developments in antitrust economics, The Antitrust Revolution, Sixth Edition, examines the critical role of economic analysis in recent antitrust case decisions and policy. The case studies--more than half of which are entirely new--are written by prominent economists who participated in the proceedings of that case. Revised overview essays introduce the economics and law that are associated with the four sections: Horizontal Structure, Horizontal Practices, Vertical and Related Market Issues, and Network Issues.
Author: Robert Bork Publisher: ISBN: 9781736089712 Category : Languages : en Pages : 536
Book Description
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.
Author: Josef Drexl Publisher: Edward Elgar Publishing ISBN: 0857930338 Category : Business & Economics Languages : en Pages : 361
Book Description
This outstanding collection of original essays brings together some of the leading experts in competition economics, policy and law. They examine what lies at the core of the .economic approach to competition law' and deal with its normative and institutional limitations. In recent years the more .economic approach' has led to a modernisation of competition law throughout the world. This book comprehensivelyexamines for the first time, the foundations and limitations of the approach and will be of great interest to scholars of competition policy no matter what discipline. Competition Policy and the Economic Approach will appeal to academics in competition economics and law, policy-makers and practitioners in the field of antitrust/competition law as well as postgraduate students in competition law and economics. Those interested in the interplay of law and economicsin the field of competition will also find this book invaluable.