Antitrust Law in the New Economy: Google, Yelp, LIBOR, and the Control of Information
Markets run on information. Buyers make decisions by relying on their knowledge of the products available, and sellers decide what to produce based on their understanding of what buyers want. But the distribution of market information has changed, as consumers increasingly turn to sources that act a...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, MA
Harvard University Press
[2017]
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| Schlagworte: | |
| Online-Zugang: | FAW01 FAB01 FCO01 FHA01 FKE01 FLA01 UPA01 URL des Erstveröffentlichers |
| Zusammenfassung: | Markets run on information. Buyers make decisions by relying on their knowledge of the products available, and sellers decide what to produce based on their understanding of what buyers want. But the distribution of market information has changed, as consumers increasingly turn to sources that act as intermediaries for information-companies like Yelp and Google. Antitrust Law in the New Economy considers a wide range of problems that arise around one aspect of information in the marketplace: its quality. Sellers now have the ability and motivation to distort the truth about their products when they make data available to intermediaries. And intermediaries, in turn, have their own incentives to skew the facts they provide to buyers, both to benefit advertisers and to gain advantages over their competition. Consumer protection law is poorly suited for these problems in the information economy. Antitrust law, designed to regulate powerful firms and prevent collusion among producers, is a better choice. But the current application of antitrust law pays little attention to information quality. Mark Patterson discusses a range of ways in which data can be manipulated for competitive advantage and exploitation of consumers (as happened in the LIBOR scandal), and he considers novel issues like "confusopoly" and sellers' use of consumers' personal information in direct selling. Antitrust law can and should be adapted for the information economy, Patterson argues, and he shows how courts can apply antitrust to address today's problems |
| Beschreibung: | Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Mai 2022) |
| Beschreibung: | 1 online resource (280 pages) 1 halftone |
| ISBN: | 9780674974319 |
| DOI: | 10.4159/9780674974319 |
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| 520 | |a Markets run on information. Buyers make decisions by relying on their knowledge of the products available, and sellers decide what to produce based on their understanding of what buyers want. But the distribution of market information has changed, as consumers increasingly turn to sources that act as intermediaries for information-companies like Yelp and Google. Antitrust Law in the New Economy considers a wide range of problems that arise around one aspect of information in the marketplace: its quality. Sellers now have the ability and motivation to distort the truth about their products when they make data available to intermediaries. And intermediaries, in turn, have their own incentives to skew the facts they provide to buyers, both to benefit advertisers and to gain advantages over their competition. Consumer protection law is poorly suited for these problems in the information economy. Antitrust law, designed to regulate powerful firms and prevent collusion among producers, is a better choice. But the current application of antitrust law pays little attention to information quality. Mark Patterson discusses a range of ways in which data can be manipulated for competitive advantage and exploitation of consumers (as happened in the LIBOR scandal), and he considers novel issues like "confusopoly" and sellers' use of consumers' personal information in direct selling. Antitrust law can and should be adapted for the information economy, Patterson argues, and he shows how courts can apply antitrust to address today's problems | ||
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| spelling | Patterson, Mark R. Verfasser aut Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information Mark R. Patterson Cambridge, MA Harvard University Press [2017] © 2017 1 online resource (280 pages) 1 halftone txt rdacontent c rdamedia cr rdacarrier Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Mai 2022) Markets run on information. Buyers make decisions by relying on their knowledge of the products available, and sellers decide what to produce based on their understanding of what buyers want. But the distribution of market information has changed, as consumers increasingly turn to sources that act as intermediaries for information-companies like Yelp and Google. Antitrust Law in the New Economy considers a wide range of problems that arise around one aspect of information in the marketplace: its quality. Sellers now have the ability and motivation to distort the truth about their products when they make data available to intermediaries. And intermediaries, in turn, have their own incentives to skew the facts they provide to buyers, both to benefit advertisers and to gain advantages over their competition. Consumer protection law is poorly suited for these problems in the information economy. Antitrust law, designed to regulate powerful firms and prevent collusion among producers, is a better choice. But the current application of antitrust law pays little attention to information quality. Mark Patterson discusses a range of ways in which data can be manipulated for competitive advantage and exploitation of consumers (as happened in the LIBOR scandal), and he considers novel issues like "confusopoly" and sellers' use of consumers' personal information in direct selling. Antitrust law can and should be adapted for the information economy, Patterson argues, and he shows how courts can apply antitrust to address today's problems In English LAW / Antitrust bisacsh Antitrust law United States Consumer protection Law and legislation United States Deceptive advertising Law and legislation United States Disclosure of information Law and legislation United States Information services Law and legislation United States Restraint of trade United States https://doi.org/10.4159/9780674974319?locatt=mode:legacy Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Patterson, Mark R. Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information LAW / Antitrust bisacsh Antitrust law United States Consumer protection Law and legislation United States Deceptive advertising Law and legislation United States Disclosure of information Law and legislation United States Information services Law and legislation United States Restraint of trade United States |
| title | Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information |
| title_auth | Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information |
| title_exact_search | Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information |
| title_exact_search_txtP | Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information |
| title_full | Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information Mark R. Patterson |
| title_fullStr | Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information Mark R. Patterson |
| title_full_unstemmed | Antitrust Law in the New Economy Google, Yelp, LIBOR, and the Control of Information Mark R. Patterson |
| title_short | Antitrust Law in the New Economy |
| title_sort | antitrust law in the new economy google yelp libor and the control of information |
| title_sub | Google, Yelp, LIBOR, and the Control of Information |
| topic | LAW / Antitrust bisacsh Antitrust law United States Consumer protection Law and legislation United States Deceptive advertising Law and legislation United States Disclosure of information Law and legislation United States Information services Law and legislation United States Restraint of trade United States |
| topic_facet | LAW / Antitrust Antitrust law United States Consumer protection Law and legislation United States Deceptive advertising Law and legislation United States Disclosure of information Law and legislation United States Information services Law and legislation United States Restraint of trade United States |
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