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This reader provides a unique mix of American and European contributions to the study of particular markets, often combined with a critical evaluation of antitrust regulations, decisions or judgments. Part I explains market structure as a function of sunk costs and market size. Part II illustrates the central role of pricing schemes (including parallel pricing, delivered pricing and competition clauses) in sustaining equilibrium outcomes in oligopolistic markets. Parts III and IV give a game-theoretic foundation to competition policy and merger control. Louis Phlips offers a comprehensive introduction to the text in which he very carefully explains the reasoning behind his choice of papers, and provides a superb synthesis of the material. Particular highlights include the discussion and evaluation of antitrust regulations, which involve a systematic comparative analysis of European and American regulations, decisions and judgments in this area
This book uses game theory to analyse anti-competitive behaviour among firms and to consider its implications for competition policy. Part I focuses on 'explicit collusion': the author proves that 'four are few and six are many', and shows how cartels can be enforced under imperfect and incomplete information. Part II on 'tacit collusion' discusses the informational requirements of collusion detection in noncooperative repeated games. In Part III on 'semicollusion', excess capacity is shown to reinforce collusion. Part IV is devoted to the detection of predatory pricing. In this book, Louis Phlips applies the latest economic theory to a discussion of several European antitrust decisions and empirical studies. The presentation of case studies, combined with a clear exposition of the theory, will make this book invaluable to teachers and students of competition policy
In: Advanced studies in theoretical and applied econometrics 21
In: Advanced textbooks in economics 5
In: Studies, competition - approximation of legislation series no. 29
In: Contributions to economic analysis 74
In: Journal of political economy, Band 74, Heft 4, S. 412-413
ISSN: 1537-534X
In: Kyklos: international review for social sciences, Band 17, Heft 3, S. 404-418
ISSN: 1467-6435
In: Studien
In: Reihe Wettbewerb, Rechtsangleichung 29
In: Université catholique de Louvain, Institut de recherches économiques, sociales et politiques, Centre de recherches économiques, Recherches pour un marché commun, 1
In: Journal of economics, Band 64, Heft 2, S. 129-154
ISSN: 1617-7134