Monopsony : antitrust law and economics

著者

書誌事項

Monopsony : antitrust law and economics

Roger D. Blair and Jeffrey L. Harrison

Princeton University Press, 1993

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注記

Includes bibliographical references and indexes

内容説明・目次

内容説明

When owners of major league baseball teams collude in dealing with free agents, when universities meet to avoid a bidding war for the most desirable students, when large manufacturing or processing facilities fix purchase prices of raw materials at artificially low levels, and when dealers rig the bids in public auctions, monopsony power is being exercised. Drawing on microeconomic theory and antitrust law, this interdisciplinary work explores the implications of monopsony, or buying power, for antitrust policy. Roger Blair and Jeffrey Harrison argue that monopsony is more prevalent than usually supposed. Here they offer a systematic treatment of the topic, demonstrating that whether monopsony power exists because of a dominant buyer or collusion among buyers, it can cause social welfare losses analogous to those occasioned by monopoly. Blair and Harrison demonstrate that monopsony affects all areas of antitrust policy, including the law of monopolization, collusion, and merger policy. In so doing, they develop several policy tools, such as a "Buying Power Index" and a guide to its practical application. They also discuss bilateral monopoly and offer a principled basis for distinguishing between socially desirable and undesirable cooperative buying.

目次

List of Figures and TablesAcknowledgments1Introduction31.1Some Recent Examples41.2Plan of Book122The Antitrust Laws and Monopsonistic Forms of Conduct132.1The Antitrust Laws: An Overview132.2A Taxonomy of Monopsony Cases253Economic Theory of Monopsony363.1A Simple Model of Monopsony363.2Collusive Monopsony423.3Organizing and Implementing a Buyer Cartel443.4Problems for Collusive Buyers453.5Measuring Buying Power473.6Market Definition and the BPI543.7The Buying Power Index in Practice574The Antitrust Response to Monopsony and Collusive Monopsony624.1Monopsonization624.2Monopsonistic Abuses684.3Monopsony and Merger Policy814.4Monopsony and Price Discrimination885Cooperative Buying Efforts935.1The Theory of Joint Purchasing945.2Antitrust Responses to Cooperative Buying Efforts996Bilateral Monopoly1096.1Countervailing Market Power in Antitrust1106.2The Bilateral Monopoly Muddle1126.3Limitations of Countervailing Power Considerations1217Monopsony and Antitrust Enforcement1307.1Public Enforcement1307.2Private Enforcement1328Conclusions, Disclaimers, and Questions1538.1Predatory Buying1548.2Antitrust Standing and Buyers from a Collusive Monopsony1568.3Cooperative Buying and Bilateral Monopoly158References161Index of Cases171General Index175

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