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Collateral vs. Project Screening: A Model of Lazy Banks
Many economists argue that the primary economic function of banks is to provide cheap credit, and to facilitate this function, they advocate the strict protection and enforcement of creditor rights.Expand
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Excessive Prices: Using Economics to Define Administrable Legal Rules
European competition laws condemn as ‘exploitative abuses’ the pricing policies of dominant firms that may result in a direct loss of consumer welfare. Article 82(a) of the EC Treaty, for example,Expand
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Revisiting Injunctive Relief: Interpreting eBay in High-Tech Industries with Non-Practicing Patent Holders
The Supreme Court's 2006 eBay ruling marked a turning point in injunctive relief policy. Unfortunately, there seems to be considerable confusion about the implications of the decision. Some authors,Expand
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Designing Antitrust Rules for Assessing Unilateral Practices: A Neo-Chicago Approach
This Essay describes an approach for designing antitrust rules for assessing whether firms have engaged in anticompetitive unilateral practices that is based in part on the error-cost frameworkExpand
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Pricing Patents for Licensing in Standard Setting Organisations: Making Sense of FRAND Commitments
We explore potential methods for assessing whether licensing terms for intellectual property declared essential within a standard setting organization can be considered fair, reasonable, andExpand
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FIDIC and Integrity: A Status Report
We discuss the efforts over the last 10 years of the International Federation of Consulting Engineers (FIDIC) to fight corruption in the construction industry. We describe the Business IntegrityExpand
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Dg Comp's Discussion Paper on Article 82: Implications of the Proposed Framework and Antitrust Rules for Dynamically Competitive Industries
This paper sets out our comments to DG Competition's discussion paper on the application of Article 82 of the Treaty to exclusionary abuses (the "Discussion Paper," hereinafter). We have focused ourExpand
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Do Firms' Product Lines Include Too Many Varieties?
A firm that offers an additional product can capture business from rival firms for other products when consumers prefer to concentrate their purchases at a single supplier. This may lead firms toExpand
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The Complements Problem within Standard Setting: Assessing the Evidence on Royalty Stacking
Royalty stacking, the most recent incarnation of the complements problem identified in the early 1800s by French engineer Augustine Cournot, has received considerable attention. The potential forExpand
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Demand-Side Efficiencies in Merger Control
Firms may be able to create new and improved products as a result of merging. These "demand-side efficiencies" should be considered by competition authorities in considering whether to allow aExpand
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