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The Robinson–Patman Act (RPA) of 1936 (or Anti-Price Discrimination Act, Pub. L. No. 74-692, 49 Stat. 1526 (codified at 15 U.S.C. § 13)) is a United States federal law that prohibits anticompetitive practices by producers, specifically price discrimination.
It is also known as antitrust law (or just antitrust [4]), anti-monopoly law, [1] and trade practices law; the act of pushing for antitrust measures or attacking monopolistic companies (known as trusts) is commonly known as trust busting. [5] The history of competition law reaches back to the Roman Empire.
In the United States, this form of unfair competition is prohibited under the common law and by state statutes, and governed at the federal level by the Lanham Act. Misappropriation of trade secrets, which occurs when one competitor uses espionage, bribery, or outright theft to obtain economically advantageous information in the possession of ...
Many forms of price discrimination are legal, but in some cases charging consumers different prices for the same goods is illegal. For example, in the United States, the Robinson–Patman Act makes price discrimination illegal in certain anti-competitive interstate sale of commodities.
Wholesale rates are, in any case, dictated by Bertrand competition model between suppliers. Next, the retailer marks up selling rates for resale to buyers in a double-marginalization strategy. The retailer can opt for an exclusive trading deal with one of the manufacturers, based on customer demand for the brands [29] and Klein and Murphy (2008 ...
In the context of U.S. competition law, the consumer welfare standard (CWS) or consumer welfare principle (CWP) [1] is a legal doctrine used to determine the applicability of antitrust enforcement. Under the consumer welfare standard, a corporate merger is deemed anti-competitive “only when it harms both allocative efficiency and raises the ...
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Discounts can occur anywhere in the distribution channel, modifying either the manufacturer's list price (determined by the manufacturer and often printed on the package), the retail price (set by the retailer and often attached to the product with a sticker), or a quoted price specific to a potential buyer, often given in written form.