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- W1538699916 abstract "The Sherman Act's distinction between and action is particularly salient where intrabrand restraints are concerned. Minimum resale price maintenance that takes the form of concerted action is unlawful per se, while price maintenance that takes place within a single firm cannot violate the Sherman Act. While courts scrutinize some under Section 2, intrabrand restraints do not constitute the sort of exclusionary conduct that can offend that provision. Courts and leading scholars have offered two distinct justifications for the distinction between concerted and restraints. First, concerted restraints supposedly create a greater competitive risk than, say, price coordination that occurs within a single firm. Second, cooperation within a single firm purportedly creates significant efficiencies when compared to analogous concerted action. This article argues that both justifications for this differential treatment reflect neoclassical price theory's technological conception of the firm. By contrast, transaction cost economics (TCE) and its theory of the firm undermine any supposed economic distinction between concerted and intrabrand restraints. TCE treats the firm as a nexus of contracts between numerous individual input owners, thereby revealing that conduct is in fact the product of cooperation by individual input owners within the legally-determined boundaries of a single firm. Though deemed unilateral, cooperation within a single firm eliminates rivalry that would otherwise occur and thus poses the very same risk of anticompetitive harm as intrabrand concerted action. TCE also teaches that and concerted intrabrand restraints are simply alternative vehicles for reducing transaction costs and that concerted intrabrand restraints can sometimes produce greater economic benefits than unilateral conduct. As a result, there is no economic rationale for subjecting and concerted intrabrand restraints to disparate treatment, whether vertical or horizontal, and various considerations suggest that courts should declare all such restraints lawful per se." @default.
- W1538699916 created "2016-06-24" @default.
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- W1538699916 date "2005-11-15" @default.
- W1538699916 modified "2023-09-23" @default.
- W1538699916 title "Intrabrand Restraints and the Theory of the Firm" @default.
- W1538699916 hasPublicationYear "2005" @default.
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