Economics Dictionary of ArgumentsHome
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| Antitrust laws: They prohibit practices like price fixing, market division, and abuse of dominant position. These laws aim to protect consumers, ensure fair pricing, and encourage innovation by maintaining a competitive economic environment. See also Market concentration, Monopolies, Oligopolies, Monopolistic competition, Cartels, Competition._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Harold Demsetz on Antitrust Laws - Dictionary of Arguments
Henderson I 64 Antitrust Laws/Demsetz/Henderson/Globerman: „I do not suggest that we abandon the search for private conspiracy, but I do think that it is time to pay much less attention to the structure of industry and virtually no attention to the notion of nongovernmental barriers to entry. A commitment to the machinery of competitive organization requires that we generally accept the consequences of effective competition. For antitrust, this means that market share and profits can be expected to shift in favor of successful rivals.“(1) Henderson: Governments in countries with advanced economies typically have laws ostensibly designed to prevent anti-competitive behaviour by private sector businesses, and also have agencies to enforce the relevant legislation. These laws are generally referred to, especially in the United States, as antitrust laws. Canada: In Canada, the federal government's Competition Bureau investigates potentially anti-competitive business behaviour and determines whether a case against the behaviour should be brought before the competition tribunal. The latter is an administrative body consisting of a judge and lay experts who hear and decide cases brought by the Competition Bureau. >Antitrust laws/Government policy, >Antitrust laws/Policy of the US, >Market concentration/Demsetz. For many decades, the "Structure-Conduct-Performance" (SCP) paradigm* dominated antitrust theory and practice. The SCP paradigm basically maintained that if a relatively small number of firms has a large market Share, those firms will refrain from competing with each other, particularly with respect to reducing their prices. As a consequence, consumers will pay higher prices and producers will earn higher profits than would be the case if a larger number of firms each had a relatively smaller market share. 1. Harold Demsetz (1989), "Two Systems of Belief About Monopoly," p. 110._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconDems I Harold Demsetz Toward a theory of property rights 1967 Henderson I David R. Henderson Steven Globerman The Essential UCLA School of Economics Vancouver: Fraser Institute. 2019 |
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