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Minimum resale prices: Is a ban justified ?

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  • David Spector

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

The systematic hostility towards minimum resale prices in most jurisdictions - at least until the recent Leegin Decision by the U.S. Supreme Court - lacks solid economic foundations. Economic theory identified mechanisms through which minimum resale prices might be procompetitive or anticompetitive. The procompetitive explanations seem at least plausible in many sectors, and the validity of the anticompetitive ones depends on whether some rather strong conditions are met. The scant empirical evidence is mixed as well. In the light of the current state of economic knowledge, a structured rule of reason based on market share thresholds and allowing for legality or illegality presumptions to be rebutted appears to be more appropriate than an all-out ban.

Suggested Citation

  • David Spector, 2007. "Minimum resale prices: Is a ban justified ?," PSE-Ecole d'économie de Paris (Postprint) halshs-00754204, HAL.
    • Handle: RePEc:hal:pseptp:halshs-00754204
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