掠夺性定价与有效资本市场

Predatory Pricing and Efficient Capital Market

本文探讨掠夺性定价、深口袋与市场竞争间的关系。结果显示:由于信息科技创新、金融管制放松形成的有效资本市场与完全信息的产业环境,允许高效率的被掠夺者,能取得充裕资金,对抗拥有深口袋的掠夺者。因此,相关案例多涉及滥讼争议,亦即:低效率的原告鉴于市场竞争失利,期望借由反托拉斯诉讼,干扰高效率的竞争对手。

This article applies economic analysis as basic to discuss the relationships among predatory pricing,deeper pocket,and market competition.The result obtained shows that,owing to information technology innovation and financial deregulation,the industrial environment characterized by efficient capital market and perfect information has allowed an efficient plundered firm to raise enough fund to fight with the deep-pocket predator.Therefore,most predatory pricing cases are filed by an inefficient plaintiff that uses unnecessary litigation as a strategic advantage to hurt its competitors.