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Predatory pricing is a commercial pricing strategy which involves the use of large scale undercutting to ... Harvard Law Review. 88: 697–733 – via JSTOR. ...
Donald Frank Turner (March 19, 1921 – July 19, 1994) was an American lawyer, economist, and legal scholar known for his expertise in United States antitrust law.He was a professor at Harvard Law School from 1954 to 1979 and served as the Assistant Attorney General in charge of the Antitrust Division of the U.S. Department of Justice from 1965 to 1968.
Robert Butler "Bob" Wilson, Jr. (born May 16, 1937) is an American economist who is the Adams Distinguished Professor of Management, Emeritus at Stanford University.He was jointly awarded the 2020 Nobel Memorial Prize in Economic Sciences, together with his Stanford colleague and former student Paul R. Milgrom, [2] "for improvements to auction theory and inventions of new auction formats".
Penetration pricing is a pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth. [1] The strategy works on the expectation that customers will switch to the new brand because of the lower price. Penetration pricing is most commonly associated with marketing ...
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 ...
It compares a firm's price of output with its associated marginal cost where marginal cost pricing is the "socially optimal level" achieved in market with perfect competition. [41] Lerner (1934) believes that market power is the monopoly manufacturers' ability to raise prices above their marginal cost. [ 42 ]
Competition law. Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. [1][2] Competition law is implemented through public and private enforcement. [3] It is also known as antitrust law (or just antitrust[4]), anti-monopoly law, [1] and trade practices law ...
Price discrimination. Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different market segments. [1][2][3] Price discrimination is distinguished from product differentiation by the more substantial difference in production cost for ...