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The most controversial area in competition policy is that of exclusionary practices, where actions are taken by dominant firms to deter competitors from challenging their market positions. Economists have been struggling to explain such conduct and to guide policy-makers in designing sensible enforcement rules. In this book, authors Chiara Fumagalli, Massimo Motta, and Claudio Calcagno explore predatory pricing, rebates, exclusive dealing, tying, and vertical foreclosure, through a blend of theory and practice. They develop a general framework which builds on and extends existing economic theories, drawing upon case law, discussions of cases and other practical considerations to identify workable criteria that can guide competition authorities to assess exclusionary practices. Along with analyses of policy implications and insights applied to case studies, the book provides practitioners with non-technical discussions of the issues at hand, while guiding economics students with dedicated technical sections with rigorous formal models.
List of contents
Introduction; 1. Predatory pricing; 2. Price discrimination and single-product rebates; 3. Exclusive dealing; 4. Tying, bundling and bundled rebates; 5. Vertical foreclosure.
About the author
Chiara Fumagalli is Associate Professor of Economics at Università Commerciale Luigi Bocconi, Milan. Her research covers industrial organization, competition policy and corporate finance. Her research in these areas has been published in leading international academic journals, including The American Economic Review, The Journal of Financial Economics, and The Rand Journal of Economics.
Summary
Offers a well-rounded perspective on monopolization and exclusionary practices - such as predation, rebates, exclusive dealing, tying, refusal to deal - which speaks to economists, lawyers, policy-makers and practitioners. It provides dedicated technical sections, case studies, and policy discussions.
Additional text
Advance praise: 'A bold and timely book. The authors make a robust case for evaluating exclusionary conduct using an effects-based approach and they provide the basic economic tools needed to make that approach work.' Carl Shapiro, University of California, Berkeley
Report
'Exclusionary Practices provides a comprehensive and coherent treatment of the most challenging and controversial area of competition policy. Astutely navigating US - EU differences, it delivers an enlightening blend of economic and legal reasoning that will be an immensely valuable resource for scholars and practitioners.' Joseph E. Harrington, Jr, Patrick T. Harker Professor, The Wharton School, University of Pennsylvania
