## Three essays in economics and law |

### From inside the book

Results 1-3 of 8

Page 9

... assuming away

information," both probabilities will be exogenous constants — ff' - 0) and buyer

and seller's probability assessments can differ systematically. Buyer has an

underlying ...

... assuming away

**endogeneity**from either "overt behavior" or "sharedinformation," both probabilities will be exogenous constants — ff' - 0) and buyer

and seller's probability assessments can differ systematically. Buyer has an

underlying ...

Page 48

The resulting class of damage remedies takes into account the

seller and buyer probability assessments and the social cost savings of joint

production. (16) tM* s.t. XR' - (<j>-6)iM' + (4>'-8')fM By integrating equation (16)

and ...

The resulting class of damage remedies takes into account the

**endogeneity**ofseller and buyer probability assessments and the social cost savings of joint

production. (16) tM* s.t. XR' - (<j>-6)iM' + (4>'-8')fM By integrating equation (16)

and ...

Page 51

This remedy is efficient regardless of the

probability estimates, of the curvature of seller's cost function, or of the extent of

social cost savings from joint production among sellers.39 Theorem 8

summarizes the ...

This remedy is efficient regardless of the

**endogeneity**of buyer and sellerprobability estimates, of the curvature of seller's cost function, or of the extent of

social cost savings from joint production among sellers.39 Theorem 8

summarizes the ...

### What people are saying - Write a review

We haven't found any reviews in the usual places.

### Common terms and phrases

advertising anticompetitive antitrust damage remedy antitrust enforcement antitrust law antitrust violations assumed assumption behavior brewers brewing industry buyer and seller buyer's probability assessment cartel coefficients competitive output consumer consumer's surplus consumption Coors cost variables damage multiple damage recovery decentralized equilibrium defined derived detection and conviction deter detrebling Econ econometric economies effect efficient damage remedy efficient output endogeneity equilibrium output exogenous factor prices firm's incentive increase indirect utility function informed buyer marginal cost marginal damage marginal revenue market failure market power market share markup maximize monopoly output moral hazard moral hazard problem oligopoly optimal order conditions Ordover Pabst parameters Pareto problem percent preferences are quasi-linear price and quantity product differentiation product failure profit constraint Proposition reliance expenditures residual demand curve residual demand elasticity resource allocation result returns to scale seller's probability assessment Shavell social cost savings solves test statistic Theorem total overcharge damages treble damages vector zero