Conceptual foundations of antitrust / Oliver Black by Oliver Black

By Oliver Black

Antitrust is a physique of legislation and coverage designed to advertise fiscal pageant via regulating monopolistic features and this e-book is a philosophical learn of suggestions that lie on the beginning of antitrust legislation. even if there are numerous felony and monetary books at the topic, it's designated in its philosophical scrutiny of easy ideas. the quantity is essentially directed at scholars, theorists and practitioners of antitrust, yet can also be necessary to attorneys, economists, philosophers, political scientists and others who've an curiosity within the self-discipline.

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For other axioms, see Boadway and Bruce (1984), 34 ff. Technical accounts are given in Boadway and Bruce (1984), 33 ff; Frank (2003), 91; Johansson (1991), 147 ff; and Roemer (1996), 15 f. For informal accounts see Allingham (2002), 22 ff; Broome (1991a), 3; Hampton (1998), 91 ff; Hargreaves Heap et al. (1992), 4 ff, 265 ff; Hausman and McPherson (1993), 680; Sobel (1994), 787; and Weintraub (1998), 308. ‘Thus, the consumer’s market behaviour is explained in terms of preferences, which are in turn defined only by behaviour’: Samuelson (1970), 91.

1∗ ) and (2∗ ) are substitution-instances of (1) and (2) in the model of competition. The corresponding instance of (3) is: (3∗ ) X achieves that Y does Ay only if Y does not achieve that X does Ax. Assume that the parties’ goals in making an agreement are as described by (1∗ ) and (2∗ ). Then competition as modelled by (1)–(3) is compatible with the making of an agreement, where the parties’ actions and goals in what is competition? 31 competing are the same as those in their making the agreement, if (3∗ ) can be true when (1∗ ) and (2∗ ) are.

1917), 23. Compare Flew, who states that ‘if someone takes part in some sort of race without trying to win we protest – truly – that he is not, or is not really, competing in that race’: Flew (1983), 271. This is a different point, for a person who races unwillingly could still try to win. Fielding (1976), 139. ’ 24 conceptual foundations of antitrust that issue. 57 A sense of ‘compete’ can be allowed that makes the claim true by definition, but that sense is too narrow for use in a general account of competition.

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