Assessing Vertical Market Restrictions: Antitrust Ramifications of the Transaction Cost Approach

摘要: Whether troublesome antitrust issues are posed when vertical restraints placed on distributors by manufacturers has long been disputed. Although economic analysis is needed to assess the ramifications of such restraints, this comes in a variety forms and does not speak with one voice these issues. Defective reasoning predictably leads results that inimical efficiency sound public policy. Such was case franchise restrictions were held anticompetitive United States v. Arnold, Schwinn & Co.' This Article develops argument failure make express allowances for transaction cost considerations responsible mistaken policy area. The approach applies symmetrically both an assessment gains, if any, arising from evaluation strategic purposes effects, accompany restraints. After developing justifications for, occasional effects of, market restrictions, I will suggest guidelines federal Part outlines general concludes enforcement agencies courts should assume efficiency-enhancing unless certain structural conditions exist within industry. II discusses behavior characteristics industries support outcomes. Vertical pose only