IDEAS home Printed from https://ideas.repec.org/a/kap/revind/v46y2015i1p5-23.html
   My bibliography  Save this article

The Federal Trade Commission, Oligopoly, and Shared Monopoly

Author

Listed:
  • F. Scherer

Abstract

This paper, written for a centennial commemoration of the Federal Trade Commission’s creation, reviews the history of two major cases—the tetracycline case of the 1950s and 1960s and the suit against four (eventually three) ready-to-eat breakfast cereal manufacturers in the 1970s. Those actions addressed one of the most difficult problems in U.S. antitrust jurisprudence: how to deal with the behavior of oligopolistic firms sufficiently few in number that they refrain from active price competition even without entering into explicit price-fixing agreements. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • F. Scherer, 2015. "The Federal Trade Commission, Oligopoly, and Shared Monopoly," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 46(1), pages 5-23, February.
    • Handle: RePEc:kap:revind:v:46:y:2015:i:1:p:5-23
    DOI: 10.1007/s11151-014-9425-0
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11151-014-9425-0
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11151-014-9425-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Richard Schmalensee, 1978. "Entry Deterrence in the Ready-to-Eat Breakfast Cereal Industry," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 305-327, Autumn.
    2. Thomas R. Stauffer, 1971. "The Measurement of Corporate Rates of Return: A Generalized Formulation," Bell Journal of Economics, The RAND Corporation, vol. 2(2), pages 434-469, Autumn.
    3. Scherer, F M, 1979. "The Welfare Economics of Product Variety: An Application to the Ready-to-Eat Cereals Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 28(2), pages 113-134, December.
    4. F. M. Scherer, 2000. "Competition Policy, Domestic and International," Books, Edward Elgar Publishing, number 2043.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. David B. Audretsch & Albert N. Link & John T. Scott, 2018. "Frederic M. Scherer: Over a Half Century—and Counting—of Seminal Scholarly Contributions," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 52(4), pages 501-508, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Joseph Farrell & David Balan & Keith Brand & Brett Wendling, 2011. "Economics at the FTC: Hospital Mergers, Authorized Generic Drugs, and Consumer Credit Markets," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 39(4), pages 271-296, December.
    2. Scherer, F. M., 2013. "The F.T.C., Oligopoly, and Shared Monopoly," Working Paper Series rwp13-031, Harvard University, John F. Kennedy School of Government.
    3. Clarissa Yeap, 2011. "Capacity use in multi-unit firms: evidence for efficiency gains or strategic competition in the US restaurant industry?," Applied Economics, Taylor & Francis Journals, vol. 43(22), pages 2953-2968.
    4. Jing Li & Edward C. Jaenicke & Tobenna D. Anekwe & Alessandro Bonanno, 2018. "Demand for ready‐to‐eat cereals with household‐level censored purchase data and nutrition label information: A distance metric approach," Agribusiness, John Wiley & Sons, Ltd., vol. 34(4), pages 687-713, October.
    5. Aviv Nevo & Catherine Wolfram, 1999. "Prices and Coupons for Breakfast Cereals," NBER Working Papers 6932, National Bureau of Economic Research, Inc.
    6. Chidmi, Benaissa & Lopez, Rigoberto A. & Cotterill, Ronald W., 2004. "Vertical Relationships In The Ready-To-Eat Breakfast Cereal Market: A Brand-Supermarket Level Analysis," 2004 Annual meeting, August 1-4, Denver, CO 19916, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Adalja, Aaron A., 2022. "Voluntary Quality Disclosure in Credence Good Markets," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322570, Agricultural and Applied Economics Association.
    8. Herrmann, Roland & Moser, Anke & Werner, Elke, 2002. "Neue empirische Befunde zur Preissetzung und zum Verbraucherverhalten im Lebensmitteleinzelhandel," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 51(02), pages 1-13.
    9. ., 2013. "Market niches, competition and economic performance: more clues from ecology?," Chapters, in: Competition, Diversity and Economic Performance, chapter 8, pages 160-182, Edward Elgar Publishing.
    10. Reimer Jeffrey J, 2004. "Market Conduct in the U.S. Ready-to-Eat Cereal Industry," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 2(1), pages 1-29, November.
    11. Adalja, Aaron A., 2018. "The Impact of Voluntary Non-GMO Labeling on Demand in the Ready-to-Eat Cereal Industry," 2018 Annual Meeting, August 5-7, Washington, D.C. 273817, Agricultural and Applied Economics Association.
    12. Nilsson, Tomas K.H. & Foster, Kenneth A., 2005. "Certification of Pork Products," 2005 Annual meeting, July 24-27, Providence, RI 19350, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. Vithala R. Rao & Edward W. McLaughlin & Gerard F. Hawkes, 1995. "Supermarket buyer evaluations of hypothetical new products: An empirical analysis," Agribusiness, John Wiley & Sons, Ltd., vol. 11(1), pages 21-33.
    14. Gopal Varma & Martino Stefano, 2022. "Entry Deterrence, Concentration, and Merger Policy," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 61(2), pages 199-222, September.
    15. Putsis, William Jr. & Dhar, Ravi, 2001. "An empirical analysis of the determinants of category expenditure," Journal of Business Research, Elsevier, vol. 52(3), pages 277-291, June.
    16. Nagler Matthew G., 2007. "Understanding the Internet's Relevance to Media Ownership Policy: A Model of Too Many Choices," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(1), pages 1-28, June.
    17. Karel Janda, 2019. "Earnings Stability and Peer Company Selection for Multiple Based Indirect Valuation," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 69(1), pages 37-75, February.
    18. Dirk Crass & Franz Schwiebacher, 2017. "The importance of trademark protection for product differentiation and innovation," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 44(2), pages 199-220, June.
    19. Claudio Giachetti & Giovanni Battista Dagnino, 2014. "Detecting the relationship between competitive intensity and firm product line length: Evidence from the worldwide mobile phone industry," Strategic Management Journal, Wiley Blackwell, vol. 35(9), pages 1398-1409, September.
    20. Chakravarthi Narasimhan & Z. John Zhang, 2000. "Market Entry Strategy Under Firm Heterogeneity and Asymmetric Payoffs," Marketing Science, INFORMS, vol. 19(4), pages 313-327, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:revind:v:46:y:2015:i:1:p:5-23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.