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Are Predatory Commitments Credible?: Who Should the Courts Believe? 1st Edition
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Top Customer Reviews
As the Chicago School ideas triumphed in Washington, they came under attack in the academy. One source of attack was the new industrial organization (NIO), based on game theory, which was revolutionizing all areas of economics. More recently, the analysis of "path dependence" has formed a second prong of attack. The game theorists created a host of models showing that with certain assumptions about information, strategy, and the structure of the game, a threat to use predatory pricing could, in theory, be profitable.
John Lott's book Are Predatory Commitments Credible? Who Should the Courts Believe?Read more ›
Mr Hellard writes "Lott extends this idea by arguing that an entrant facing an incumbent with a reputation for toughness should take a short position in the incumbent's stock, enter, and reap trading profits" It's a good idea, but 1) not every company is quoted on the Stock Exchange ! and 2) the price variations of the stock can be dependent on many other factors besides the incumbent/entrant rivalry (especially nowadays...).
I agree that state-owned firms are especially prone to predatory pricing and other anti-competitive behavior. I have been working for 8 years in the French telecommunications market, and the French state monopoly (France Telecom) has always tried everything legal and illegal to stifle competition. Predatory pricing is one of France Telecom's many weapons.
Officially, the French market was open to competition in 1998, but in reality many key services have remained in the grips of France Telecom so far, which has allowed the behemoth to lower charges on competitive services, while charging sometimes the equivalent of 10 times the U.S. rate on some other vital services which are not yet fully open to competition (like leased lines).
Most Recent Customer Reviews
If you like logical discussions that lead to insights you had not anticipated, this is a book you will enjoy. Read morePublished on June 19, 2000 by Richard Mckenzie
Despite the large number of lawsuits and bureaucratic actions taken against firms alleged to be "predatory pricers," there has been surprisingly -- no, shockingly --... Read morePublished on September 26, 1999 by Donald J. Boudreaux