Economics 127: Antitrust Economics and Law
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Problem
Set
#3.
Economics
127:
Antitrust
Economics
and
Law
1. Would
you
have
banned
the
Call
Rule
in
Chicago
Board
of
Trade
without the government presenting evidence
of
anticompetitive
effects?
2. What
does it
mean
to
say
that the
legality
of
a
restraint
is
judged
under the
rule
of reason?
3. Socony-Vacuum:
Footnote
59.
A. Will a
firm
with
low
market
share
be
able
to
raise
price
much
on
its
own? What
about
a
group
of
firms
with
low
aggregate
market
share? (by
“low aggregate
market
share”
we
mean
that
even
when
taken
together
the
firms in aggregate
still
have
a
low
share)
B. Is
a
group
of
firms
with
low
aggregate
market
share
likely
to
form
a
cartel?
C. Should
legality
depend
upon
whether
price
fixers
control
a
substantial
part of
trade
or
business?
4. What
does
it
mean
to
say
that price-fixing
is
per
se
illegal?
5. Argue
that
the
Call
Rule
in
Chicago
Board
of
Trade
fits
into Douglas'
definition
of per
se illegal
price-fixing in
Socony
6. Do
you
see
meaningful
likely
economic
differences
between
the
challenged agreements
in
Socony
and
Chicago
Board
of
Trade that
might
justify the
call
rule in
CBOT being
treated
under
the
rule
of
reason while Socony is treated under the per
se
rule?
7. What
kind
of
evidence
might
have
allowed
the
government
to
win
CBOT
under the
rule
of
reason?
2022-02-15