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Comments On Marvel: How Fair Is Fair Trade?

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  • BENJAMIN S. SHARP

Abstract

Each of the papers in this symposium concludes with policy recommendations regarding the legality of resale price maintenance (RPM). The legal standard used to judge RPM affects the entire universe of manufacturer control over resale prices. Therefore, policy recommendations are valid only to the extent that the proffered economic theory applies to a substantial portion of that universe. My comments focus primarily on how much of the RPM universe is addressed by Marvel's (1985) explanations in “How Fair is Fair Trade?” If an economic theory, no matter how interesting academically, describes only a small minority of RPM instances, it should not form the basis for public policy.

Suggested Citation

  • Benjamin S. Sharp, 1985. "Comments On Marvel: How Fair Is Fair Trade?," Contemporary Economic Policy, Western Economic Association International, vol. 3(3), pages 37-42, March.
  • Handle: RePEc:bla:coecpo:v:3:y:1985:i:3:p:37-42
    DOI: 10.1111/j.1465-7287.1985.tb00806.x
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    References listed on IDEAS

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    1. Pickering, J F, 1974. "The Abolition of Resale Price Maintenance in Great Britain," Oxford Economic Papers, Oxford University Press, vol. 26(1), pages 120-146, March.
    2. Howard P. Marvel, 1985. "How Fair Is Fair Trade?," Contemporary Economic Policy, Western Economic Association International, vol. 3(3), pages 23-35, March.
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    Cited by:

    1. William S. Comanor & John B. Kirkwood, 1985. "Resale Price Maintenance And Antitrust Policy," Contemporary Economic Policy, Western Economic Association International, vol. 3(3), pages 9-16, March.

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