Monopsony in Law and Economics - Blair, Roger D.; Harrison, Jeffrey L.
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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…mehr

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Produktbeschreibung
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.
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Autorenporträt
Roger D. Blair is Walter J. Matherly Professor of Economics at the University of Florida, where he has taught since 1970. He received his Ph.D. from Michigan State University. Professor Blair is the author or coauthor of numerous books, including Antitrust Economics (with David Kaserman), Law and Economics of Vertical Integration and Control (with David Kaserman), Monopsony: Antitrust Law and Economics (with Jeffrey Harrison), Intellectual Property: Economic and Legal Dimensions of Rights and Remedies (Cambridge University Press, with Thomas Cotter), The Economics of Franchising (Cambridge University Press, with Francine Lafontaine), and Volume II of Antitrust Law (with Herbert Hovenkamp, Christine Durrance, and the late Philip Areeda). He is also the editor or coeditor of many volumes, including Proving Antitrust Damages. Professor Blair has written more than 170 articles or chapters in professional economics journals, law reviews, and books.
Rezensionen
'Blair and Harrison provide a clear, approachable, and useful analysis of the economics of monopoly on the buying side of markets, a subject that is much too frequently both overlooked and misunderstood. The authors also include a comprehensive, policy-driven analysis of bilateral monopoly and show how monopsony power is exercised in a number of markets, including agriculture, sports leagues, and medical services. This excellent, well-written, and timely book should be on the shelf of every industrial organization economist as well as every competition or antitrust lawyer.' Herbert Hovenkamp, University of Iowa