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Registros recuperados: 10
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A Simple Theory of Predation AgEcon
Fumagalli, Chiara; Motta, Massimo.
We propose a simple theory of predatory pricing, based on scale economies and sequential buyers (or markets). The entrant (or prey) needs to reach a critical scale to be successful. The incumbent (or predator) is ready to make losses on earlier buyers so as to deprive the prey of the scale it needs, thus making monopoly profits on later buyers. Several extensions are considered, including markets where scale economies exist because of demand externalities or two-sided market effects, and where markets are characterised by common costs. Conditions under which predation may take place in actual cases are also discussed.
Tipo: Working or Discussion Paper Palavras-chave: Anticompetitive Behaviour; Exclusion; Below-Cost Pricing; Antitrust; Financial Economics; K21; L12; L40.
Ano: 2010 URL: http://purl.umn.edu/59420
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Cartel Dissolution with Effective Antitrust Policy AgEcon
Cai, Xiaowei; Stiegert, Kyle W..
Cartel operations still exist worldwide despite the recent development and enforcement of antitrust laws in scores of countries that previously had no such legal framework. Since 1990, 283 international cartels were discovered by antitrust authorities around the world (Connor 2003). According to a 1990s' sample of U.S. Department of Justice and European Commission prosecuted cases, the discovered cartels operated in a wide variety of industries such as chemicals, metals, paper products, transportation, communication, food, textiles and services (OECD 2002). Were it not for the efforts to deter cartels by the antitrust agencies, there would likely have been many more such arrangements (Connor 2005). The presence and societal impacts of domestic and...
Tipo: Conference Paper or Presentation Palavras-chave: Cartel; Dissolution; Antitrust; Market Uncertainty; Industrial Organization.
Ano: 2010 URL: http://purl.umn.edu/61297
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Competition Regimes in Telecommunications and the International Trading System AgEcon
Koopmann, Georg.
In most countries, competition in the telecommunications industry is subject to both sector-specific regulation and more general antitrust policies. At the same time, a process of international market liberalisation is under way in telecommunications which can only be truly effective - and further advance - if appropriate competitive safeguards are in place. Trading partners should agree on certain minimum standards to be observed in this area in order to better combat anticompetitive conduct and avoid international conflicts. The Reference Paper to the WTO Agreement on Basic Telecommunications is an important step in this direction and may also serve as a model for other network industries. It is a framework of rules which has to be filled with concrete...
Tipo: Working or Discussion Paper Palavras-chave: Regulation; Antitrust; Trade Negotiations; Services; International Relations/Trade; F13; L40; L50; L89.
Ano: 2001 URL: http://purl.umn.edu/26230
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Estimating the Value of Antitrust Investigations: A Case Study in Agriculture AgEcon
Coatney, Kalyn T.; Tack, Jesse B..
The goal of our analysis is to enhance the understanding of the value of antitrust regulatory activities, specifically the impact of investigations of anticompetitive behavior. The results suggest that prices significantly increased as soon as the targets of the investigation were made aware they were being investigated. Higher prices are suggestive of a more competitive market outcome, which in turn suggests that the benefits of an investigation begin accruing immediately upon awareness by the offending party. The higher prices remained as long as the investigation was open. After the investigation was closed, market prices systematically declined to the same low pre-knowledge state.
Tipo: Conference Paper or Presentation Palavras-chave: Antitrust; Auctions; Agricultural and Food Policy; Demand and Price Analysis; K42; D44; C23.
Ano: 2011 URL: http://purl.umn.edu/103548
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FARMER-OWNED BRANDS? AgEcon
Hayes, Dermot J.; Lence, Sergio H.; Stoppa, Andrea.
The paper lays out the economic arguments in favor of the establishment of farmer-owned brands in midwestern agriculture and presents four case studies based on successful efforts in this area in the United States and European Union. The case studies involve Parma Ham, Brunello di Montalcino wine, Vidalia onions, and a third-party verification organization. The studies show that these brands can be profitable for farmers and emphasize the importance of restricting the supply of any successful brand. One of the case studies shows that this type of supply control can conflict with antitrust regulations.
Tipo: Working or Discussion Paper Palavras-chave: Antitrust; Brands; Farm profitability; Farmer-owned brands; Origin control; Value-added agriculture; Marketing.
Ano: 2003 URL: http://purl.umn.edu/18287
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Food, Agriculture, and Antitrust: Looking at the Recent Past (PowerPoint) AgEcon
MacDonald, James M..
Presented to USDA Economists Group, Washington, DC
Tipo: Conference Paper or Presentation Palavras-chave: Antitrust; Agriculture; Agribusiness; Agricultural and Food Policy.
Ano: 2009 URL: http://purl.umn.edu/56161
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THE AGE OF CONTRACT AGRICULTURE: CONSEQUENCES OF CONCENTRATION IN INPUT SUPPLY AgEcon
Harl, Neil E..
Dramatic increases in concentration in the seed business, coupled with aggressive efforts to vertically integrate the agricultural sector and to institute contract-based production of commodities, have raised questions about the economic position of producers. Disparate positions of market power by highly concentrated input suppliers on the one hand (particularly seed suppliers because of control over germ plasm and a monopoly position over seed varieties through plant patents or plant variety protection certificates), and producers in nearly perfect competition on the other, suggest that the revenue division from production is likely to be redefined in favor of the party with the greater market and economic power. Possible solutions include aggressive...
Tipo: Journal Article Palavras-chave: Agriculture; Antitrust; Barriers to entry; Collective action; Concentration; Contract; Seed; Vertical integration; Farm Management; Industrial Organization.
Ano: 2000 URL: http://purl.umn.edu/14701
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The Economics of Competition Policy: Recent Developments and Cautionary Notes in Antitrust and Regulation AgEcon
Brennan, Timothy J..
Competition policy has become more prominent while the thinking underlying those policies has undergone substantial revision. We survey advances in antitrust economics and the economics of regulation. Increasing reliance on non-cooperative game theory as a foundation for antitrust has led to rethinking conventional approaches. We review some of these contributions in the context of mergers, vertical restraints, and competition in "network industries." Turning to regulation, we review standard rationales and identify some major contemporary refinements, with examples of the motives behind them and their application. After brief thoughts on privatization, we conclude with suggestions on design and implementation, with some observations on whether these...
Tipo: Working or Discussion Paper Palavras-chave: Antitrust; Regulation; Competition policy; Industrial Organization.
Ano: 2000 URL: http://purl.umn.edu/10716
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Unilateral and Exclusionary/Strategic Effects of Common Agency: Price Impacts in a Repeated Common Value English Auction AgEcon
Coatney, Kalyn T.; Shaffer, Sherrill L.; Menkhaus, Dale J.; Scheer, Jennifer L..
The business justification for multiple principals to hire a common agent is efficiency. Our empirical study demonstrates that the creation of the common agent unilaterally depresses winning bids. Additionally, the common agent was not only observed to be the dominant bidder but also paid significantly lower prices than fringe competitors (price/quantity differential). The observed price/quantity differential is consistent with the almost common value English auction theory developed by Rose and Kagel (2008) in which a cost advantaged bidder is able to reduce competition by credibly raising the costs of disadvantaged rivals associated with the winner’s curse.
Tipo: Working or Discussion Paper Palavras-chave: Common Value Auctions; Common Agency; Antitrust; Industrial Organization; D44; K21; K23.
Ano: 2010 URL: http://purl.umn.edu/56529
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WHAT CAN WE LEARN FROM THE ADM GLOBAL PRICE CONSPIRACIES? AgEcon
Connor, John M..
ADM was at the center of two large global price-fixing conspiracies. Buyers were overcharged $116 to $378 million in the United States. Market structure and corporate management style facilitated these cartels. The criminal prosecutions and defendants' legal strategies were both laudatory, but civil plaintiffs were short-changed. ADM has undergone severe management restructuring, but the effectiveness of apprehending global cartels with national legal enforcement is questionable.
Tipo: Working or Discussion Paper Palavras-chave: Price fixing; Global cartel; Antitrust; Citric acid; Market structure; Structural change; Lysine; International trade; Archer Daniels Midland; Welfare analysis; Demand and Price Analysis.
Ano: 1998 URL: http://purl.umn.edu/28621
Registros recuperados: 10
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