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In neo-classical economics, price fixing is inefficient. The anti-competitive agreement by producers to fix prices above the market price transfers some of the consumer surplus to those producers and also results in a deadweight loss. International price fixing by private entities can be prosecuted under the antitrust laws of many countries.
The Antitrust Revolution: Economics, Competition, and Policy (2003) CJ Goetz, FS McChesney and TA Lambert, Antitrust Law, Interpretation and Implementation (5th edn 2012) B Orbach and G Campbell, The Antitrust Curse of Bigness, Southern California Law Review (2012). RA Posner, Antitrust Law: An Economic Perspective (1976)
Dumping, also known as predatory pricing, is a commercial strategy for which a company sells a product at an aggressively low price in a competitive market at a loss.A company with large market share and the ability to temporarily sacrifice selling a product or service at below average cost can drive competitors out of the market, [1] after which the company would be free to raise prices for a ...
The Robinson–Patman Act (RPA) of 1936 (or Anti-Price Discrimination Act, Pub. L. No. 74-692, 49 Stat. 1526 (codified at 15 U.S.C. § 13)) is a United States federal law that prohibits anticompetitive practices by producers, specifically price discrimination.
But the anti‐ price‐ gouging legislation is unlikely to become law due to concerns from Republicans that it would effectively allow the FTC to control prices and prolong shortages for many ...
In August 2007 British Airways (BA) was fined £121.5 million [45] for price-fixing. The fine was imposed by the Office of Fair Trading (OFT) after BA admitted to the price-fixing of fuel surcharges on long haul flights.
The United States Department of Justice Antitrust Division is a division of the U.S. Department of Justice that enforces U.S. antitrust law.It has exclusive jurisdiction over federal criminal antitrust prosecutions, and it shares jurisdiction over civil antitrust enforcement with the Federal Trade Commission (FTC).
The rule of reason is a legal doctrine used to interpret the Sherman Antitrust Act, one of the cornerstones of United States antitrust law.While some actions like price-fixing are considered illegal per se, other actions, such as possession of a monopoly, must be analyzed under the rule of reason and are only considered illegal when their effect is to unreasonably restrain trade.