Cavanagh over the past forty years, the federal courts have relied more and more on economic theory to inform their antitrust analyses. This book is an effort to consolidate several different perspectives on antitrust law. On the origins of the sherman antitrust act robert l. Rubinfeldt bundling and tying arrangements are widespread in our economy. The antitrust law section is the key to cultivating your career in antitrust and competition law, trade regulation, consumer protection, or economics. Part ii proceeds to examine the main economic concerns that price discrimination raises. First, keith hylton presents a detailed description of the law as it has developed through numerous judicial opinions. It is an excellent text for readers who wish a cogent description of antitrust as an evolving form of common law, peppered with an insightful discussion of. Defining markets and measuring market power jonathan b. An economic perspective, as support for the proposition that economists had identified several ways in which manufacturers use nonprice vertical restraints to compete against other manufacturers.
No antitrust lawyer, serious antitrust student, or antitrust economist should be without this book. Members includes over 9,500 attorneys, academics, economists and other professionals from across the globe. Ip and antitrust seminar antonin scalia law school. Nagin in what is no doubt destined to become a classic reference in the antitrust lawyers library on the virtues of economic efficiency, profes. This may be because they do not constitute agreements affecting competition, do not eliminate or significantly restrict competition, or because the cooperation in question is justified on grounds of economic efficiency. Plus factors and agreement in antitrust law william e. For over 50 years, cra has been a premier consulting firm. Antitrust compliance programs from an economic perspective by yajing jiang, stephanie riche, and isabel tecu157 this article analyzes the economic principles and tradeoffs of antitrust compliance programs atcps. While we need to abstract from the specific facts to which an individual atcp may be tailored, economics allows us to. Antitrust law national association of realtors overdrive. Higher prices less choice less incentives to cut costs and develop new products monopsony buying power and employment of labour antitrust laws came into effect. One particular form of bundling, the bundling of rebates, has.
Third, professor hylton integrates a jurisprudential perspective into the analysis that looks at antitrust as a vibrant field of common law. Cases, concepts and problems in competition policy, 2003 american casebook series free enterprise and economic organization. Mcchesney what do economists think about antitrust a random walk down pennsylvania avenue paul h. An economic approach to price fixing harvard law school. Us antitrust law and policy in historical perspective harvard.
As the leading forum for ongoing analysis of policies and developments affecting competition and consumer protection law, the section of antitrust law is a frequent resource for government antitrust agencies, and is often asked to present positions on proposed legislation and procedures involving antitrust enforcement around the world. Regardless of whether one agrees with posners theories or the economic concentration in many industries that followed the adoption of his ideas, antitrust economics is essential reading if one wants to understand how we got to where we are and the theory behind modern antitrust law. Rubinfeld bundling and tying arrangements are widespread in our economy. Richard posner argues that the promotion of economic competition is thinly defensible rationale of antitrust law, this work demonstrates the revisions in conventional thinking about antitrust policy that are necessary if the economic purposes of that policy are to be taken seriously. Schumpeterian competition is the kind of competition that is engendered by product and process innovation. Competition law is known as antitrust law in the united states for historical reasons, and as antimonopoly law in china and russia. Some argue that antitrust law merely serves the purpose of economic growth, while others have a. This alert aims to put antitrust compliance into perspective, so you can focus on what matters most.
Third, he integrates a jurisprudential perspective that views antitrust as a vibrant field of common law. Department of justice before the the association of the bar of the city of new york new york, ny. Such an approach seeks to identify, in accordance with the circumstances of fact and of law specific to each case and with a concern to ascertain the economic reality underlying the transactions, the economic aim pursued by the parties, by examining, when faced with a number of legally distinct transactions, whether the undertakings concerned. Legal, economic, social, and political perspectives, ed. Together with a move from a rulesbased legal approach to a more economic. Herbert hovenkamp, university of iowa college of law, us this comprehensive book provides an extensive overview of the major topics of antitrust law from an economic perspective. Cases, concepts and problems in competition policy 26768 2d ed. The law and economics of price discrimination in modern. Introduction the rule against price fixing is the least controversial prohibition in competition law. The origins of competition the roots of the concept of competition are as old as economic science if the latter starts with the famous book the wealth of nations see smith, 1776, 1937. Economic theory has indeed provided guidance with respect to antitrust issues and assisted the courts in reaching rational. The first prong of posners economic approach to collusion refreshingly. Antitrust law has played a critical role in shaping modern medical markets. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext.
Shughart ii publicchoice theory and antitrust policy william f. An economic perspective antitrust law in perspective. Orthodox antitrust theory and policy were then in compete disarray. Second, the author presents detailed economic critiques of. Economic theory and common law evolution pdf, epub, docx and torrent then this site is not for you. Bresnahan antitrust law, policy, and practice are the product of a long and fruitful interdisciplinary collaboration between law and economics.
Secondly, the writer found that governmental controls, regulations, and protections make up an array of historical, legal and economic factors involving. Resale price maintenance rpm is an area of antitrust law that has witnessed a shift in analytical approach and case law development based on economic analysis. Offering a concise and critical comparison of eu competition law and us antitrust law from an economic perspective, this is the ideal textbook for international and interdisciplinary courses. Teece abstract how would competition policy be shaped if it were to explicitly favor schumpeterian dynamic competition over neoclassical static competition. After briefly describing the interrelationship between patent law and antitrust law, i will highlight the role of the federal trade commissions policy interest in the structure of the law bearing on patentability. The purpose of this paper is to provide a brief summary, from an economic perspective, of the ftcs experience with enforcing the merger guidelines over the past 20 years. This last perspective leads the author to address issues of certainty, stability, and predictability in antitrust law, and to examine the pressures shaping its evolution. Even before that time the merits of and problems with competition often submerged in economic writings.
Building on a general discussion of various motivations to ensure compliance with competition law, we discuss both key challenges in the design of an effective clcp as well as the main building blocks of such programmes. She has advised several leading indian companies on competition law matters. Measuring the economic effects of competition law enforcement acm. Jan, 2006 in the end, antitrust law is an extremely versatile, valuable and highly recommended book. While these efforts can be critical to advancing public health and minimizing the economic impact of the outbreak, it is important for companies to recognize the. Antitrust law, mededingingsrecht, antitrustwetgeving, rechtseconomie, concurrence. Competition law is implemented through public and private enforcement. In the end, antitrust law is an extremely versatile, valuable and highly recommended book. These practices have come under scrutiny by the courts, which have on occasion concluded that particular arrangements are anticompetitive. He has significant experience in antitrust matters relating to the united states and the european union eu. Oligopoly problem, and contemporary economic theory, 38 antitrust bull. Monopolies have various disadvantages for society and consumers. A cynical interpretation ofthe sherman act this year is the 100th anniversary ofone of the most famous or. As the leading forum for ongoing analysis of policies and developments affecting competition and consumer protection.
The key pieces of antitrust legislation in the united statesthe sherman antitrust act of 1890 and the clayton. If youre looking for a free download links of antitrust law. David scheffman, malcolm coate, and louis silvia 2. Competition law is a law that promotes or seeks to maintain market competition by regulating anticompetitive conduct by companies. Nagin in what is no doubt destined to become a classic reference in the antitrust lawyers library on the virtues of. Specifically, it was found that there are several features and trends that are observable about the role of antitrust laws in the professional sports industry from a financial perspective. The goal of the course is to intersect the world of intellectual property. Antitrust compliance programs from an economic perspective. Antitrust featured publications charles river associates.
It is an excellent text for readers who wish a cogent description of antitrust as an evolving form of common law, peppered with an insightful discussion of traditional law and economics. Economic doctrines and approaches to antitrust itif. For better or for worse, antitrust law helped usher in the era of medicine as big business. Its indepth treatment and analysis of both the law and economics of antitrust is presented via a collection of interconnected original essays. Second, he presents detailed economic critiques of the judicial opinions, drawing heavily from law and economics journals. Each of our practice areas is highly regarded, and our consultants are recognized for their creative and multidisciplinary approach to solving our clients complex problems in the us and throughout the world. Department of justice before the the association of the bar of the city. We provide a law and economics perspective on competition law compliance programmes clcps. In this extensively revised second edition of a book first published in 1976, posner offers a compact but thorough and extensively documented analysis of u. Antitrust law and the promotion of democracy and economic growth niels petersen abstract there is a considerable debate in the legal literature about the purpose of antitrust institutions. Because antitrust at its heart involves the application of legal theory and analysis to.
This article then explores in some detail the relevant law and policy on the both sides of the atlantic. Standard economic theory argues that antitrust law promotes economic. Shughart ii in search of the publicinterest model of antitrust fred s. The role of antitrust laws in the professional sports industry from a financial perspective. Problems in competition policy, 2003 american casebook series antitrust law. University casebook series rural economic development. That interest is substantial, reflecting the reality that legal rules. White plus factors are economic actions and outcomes, above and beyond parallel conduct by oligopolistic firms, that are largely inconsistent with unilateral conduct but largely consistent with explicitly coordinated action. Antitrust law and the promotion of democracy and economic. This may be because they do not constitute agreements affecting competition, do not eliminate or significantly restrict competition, or because the cooperation in question is.
Second, the author presents detailed economic critiques of the judicial opinions, drawing. First, professor hylton presents a detailed description of the law as it has developed through numerous judicial opinions. Journal of economic perspectivesvolume 14, number 1winter 2000pages 4360. There is, however, less consensus than meets the eye on what constitutes price fixing and on how legal regimes should identify and remedy it.
Yet, across jurisdictions, differences remain in treatment of rpm. The dominant emphasis of the ever more popular view concerns the ascendance of economics in antitrust decisionmaking and doctrine. Antitrust is predominantly an american term referring to laws regulating the abuse of monopoly power. Critical issues in hospital antitrust law health affairs. Historic supreme court decisions landmark case law antitrust law and economics in a nutshell global issues in antitrust and competition law technology in the law office, second edition technology in the law office, second edition. Antitrust law and the promotion of democracy and economic growth. Rubinfeld deputy assistant attorney general antitrust division u.
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