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Predatory Pricing

(Predatory pricing) (Predatory pricing) (2538) (Logic) Predatory 1 pricing 1. : Predatory pricing 2. : Predatory pricing (good information) (prefect) Predatory pricing Modern Industrial Organization Dennis W. Carlton 2 Jeffrey M. Perloff 1 2

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Predatory Pricing

1. (Predation with Identical Firms)

P* P* Q* Qe P* A Q* P* () Qi Q* - Qe A + B B Predatory pricing P* (Duopoly) Predatory pricing (Monopoly) 2

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Predatory Pricing

() () Predatory pricing Predatory pricing Predatory pricing 1) Predatory pricing ( The Sherman Act The Clayton 3 Act 26 .. 2542 4 ) 2) (Monopoly price) 3) ( ) Predatory pricing Predatory pricing (Sunk cost) Predatory pricing Predatory pricing 2. (Predation Where One Firm Has an Advantage)

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Predatory Pricing

Predatory pricing Predatory pricing Predatory pricing Predatory pricing () Predatory pricing[Williamson (1977), Selten (1978), Ordover and Willig (1981), Easterbrook (1981), Kreps et al. (1982), Kreps and Wilson (1982a), and Milgrom and Roberts (1982b).]

Predatory pricing ( ) Predatory pricing Predatory pricing () ( ) Predatory pricing ( )

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Predatory Pricing

(asymmetry information) Predatory pricing Predatory pricing Predatory pricing Predatory pricing Predatory Pricing ( ) Areeda and Turner (1975) Predatory pricing ( ) Areeda Turner Predatory pricing Areeda Turner Predatory pricing Predatory pricing Predatory pricing Areeda Turner () 5

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Predatory Pricing

( ) Pittman (1984) IBM Supercomputer Predatory pricing Supercomputer (learning by doing) (present discounted value)

Predatory pricing Predatory pricing Predatory pricing Easterbrook (1981) Predatory pricing Predatory pricing Predatory pricing Predatory pricing Predatory pricing

6

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Predatory Pricing

Predatory pricing McGee (1958) Koller (1971) Predatory pricing 1890 26 Koller 7 4 7 Predatory pricing 5 3 4 Predatory pricing 90 (Hurwitz et al. 1981) Isacc Smith (1985) Predatory pricing Predatory pricing [Lott (1999) Predatory pricing ] Predatory pricing [Weiman and Levin (1994), Genesove and Mullin (1997), and Morton (1997)] 6 American Tobacco

5 6

Predatory pricing 1881-1906 Tobacco Trust Predatory pricing Tobacco Trust 1901 Tobacco Trust Predatory pricing Wells-Whitehead Tobacco Company of Winston North Carolina 1903 Tobacco Trust [(2538)]

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Predatory Pricing

7 (2543) 1.

2.

(Structural control) (structural control prohibition control) (Conduct control) (EEC) (economies of scale)

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Predatory Pricing

(conduct control) Predatory pricing (2538) 8 Predatory pricing (Structural Control) Predatory pricing (Allocative efficiency) (Economic of scale) (Dominant Position) 9 AKZO 8

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: AKZO ECS (Engineering and Chemical Supplies Ltd.) benzoyl peroxide 2 ECS UK AKZo 1979 ECS AKZO ECS ECS ECS AKZO ECS AKZO benzoyl peroxide ECS AKZO organic peroxide AKZO AKZO AKZO (retaliate) ECS (eliminate) ECS benzoyl

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Predatory Pricing

Predatory pricing (abuse of power)

peroxide ECS (AVC)

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Predatory Pricing

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Predatory Pricing

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Predatory Pricing

. . , 2538. . . , 2543. . . : , 2545. . .. 2542. 2542 . : . 19 2 ( 2542): 71-84 ________. (merger control). 24 ( 2537) :689-700 Dennis W. Carlton, Jeffrey M. Perloff. Modern Industrial Organization (Forth Edition). Newyork : Pearson & Addison Wesley, 2005. Jeffrey M. Perloff. Microeconomics (Second Edition). United States of America : Addison Wesley Longman, 2001.

13