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Monopsony in Law and Economics 2nd Edition.

Monopsony in Law and Economics 2nd Edition.

Name: Monopsony in Law and Economics 2nd Edition.
Brand: Cambridge University Press
SKU: 9780521746083
Price: 340.34 HKD
Availability: OutOfStock
Author: Roger D. Blair; Jeffrey L. Harrison
ISBN: 9780521746083

Edited by Roger D. Blair · Jeffrey L. Harrison

Cambridge University Press November 2010

Specifications

ISBN-13: 9780521746083
Publisher: Cambridge University Press
Publication: November 2010
Format: Paperback
Jurisdiction: U.K. ? Countri(es) for reference only

Details

Most readers are familiar with the concept of a monopoly. A monopolist is the only seller of a good or service for which there are not good substitutes. Economists and policy makers are concerned about monopolies because they lead to higher prices and lower output. The topic of this book is monopsony, the economic condition in which there is one buyer of a good or service. It is a common misunderstanding that if monopolists raise prices, then monopsonists must lower them. It is true that a monopsonist may force sellers to sell to them at lower prices, but this does not mean consumers are better off as a result. This book explains why monopsonists can be harmful and the way law has developed to respond to these harms.

Detailed economic analysis of monopsony, a unique but important feature of industrial organization, law and economics
Offers applications in agriculture, health and sports
Contrasts the concept of monopsony with monopoly and explores antitrust/competition policy implications

Contents:: 1. Introduction; 2. The antitrust laws and monopsonistic forms of conduct; 3. Economic theory of monopsony; 4. The antitrust response to monopsony and collusive monopsony; 5. Cooperative buying efforts; 6. Bilateral monopoly; 7. Monopsony and antitrust enforcement; 8. Monopsony in action: agricultural markets; 9. Monopsony in action: the NCAA; 10. Monopsony in action: physician collective bargaining: monopoly or bilateral monopoly; 11. Final comments.