Abstract
To assess the welfare implications of dumping it is helpful to examine first the welfare aspects of price discrimination within national boundaries and to relate such conclusions as may be drawn to the problem of price discrimination within the international context. Subsequently, it will be useful to compare the welfare effects of dumping in the conventional sense (where the export price is assumed to be below the home market price) with the opposite form of differential pricing, generally known as reverse dumping.
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Notes and References
Arthur C. Pigou, Economies of Welfare (London: Macmillan, 1920) p. 244.
Joan Robinson, Economics of Imperfect Competition (London: Macmillan, 1933) p. 201. A similar conclusion is reached by Pigou, op. cit., p. 24.
More generally see: Fritz Machlup, ‘Characteristics and Types of Price Discrimination’ in Business Concentration and Price Policy (Princeton: Princeton University Press, for the National Bureau of Economic Research, 1955); Edgar O. Edwards, ‘The Analysis of Output under Discrimination’, Econometrica, Baltimore, April 1950;
and F. M. Scherer, Industrial Pricing (Chicago: Rand McNally, 1970) ch. 6.
In addition to McGee, op. cit., see, for instance, the following: M. A. Adelman, A and P: a Study in Price-Cost Behaviour and Public Policy (Cambridge, Mass.: Harvard University Press, 1959); David R. Kamerschen, ‘Predatory Pricing, Vertical Integration and Market Foreclosure: the Case of Ready Mix Concrete in Memphis’, Industrial Organisation Review, Blacksburg, vol. 2, 1974; Kenneth G. Elzinga, ‘Predatory Pricing: the Case of the, Gunpowder Trust’, Journal of Law and Economics, April 1970; Roland H. Koller, ‘The Myth of Predatory Pricing: an Empirical Study’, Antitrust Law and Economics Review, Washington, Summer 1971; ‘The FTC Strikes Again: Rooting out “Low” Prices in the Bread Industry’, Antitrust Law and Economics Review, no. 4, 1975; Richard Zerbe, ‘The American Sugar Refinery Company, 1889–1914: the Story of a Monopoly’, Journal of Law and Economics, October 1969. A rare example of successful predatory pricing occurred in the Mogul Steamship Case of 1885: see B. S. Yamey, ‘Predatory Price Cutting. Notes and Comments’, Journal of Law and Economics, April 1972.
Cited in Jacob Viner, Dumping: a Problem in International Trade (Chicago: University of Chicago Press, 1923) p. 141.
William Smart, The Return to Protection (London: Macmillan, 1904) p. 152.
Gottfried Haberler, The Theory of International Trade (London: William Hodge, 1936) p. 314.
Peter Lloyd, Anti-dumping Actions and the GA TT System, Thames Essay no. 9 (London: Trade Policy Research Centre, 1977) p. 15.
Corwin D. Edwards, The Price Discrimination Law (Washington: Brookings Institution, 1959) pp. 2–13.
Frederick Rowe, Price-Discrimination under the Robinson-Patman Act (Boston: Little Brown, 1962) p. 20.
Posner, The Robinson-Patman Act (Stanford: AM Enterprise, 1977) p. 19.
Ervin Hexner, The International Steel Cartel (Chapel Hill: North Carolina University Press, 1943) p. 68.
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© 1980 Richard Dale
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Dale, R. (1980). Welfare Implications of Dumping. In: Anti-Dumping Law in a Liberal Trade Order. Trade Policy Research Centre. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-05045-1_2
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DOI: https://doi.org/10.1007/978-1-349-05045-1_2
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