Terminal Railroad Revisited

Terminal Railroad Revisited : Foreclosure of an Essential Facility or Simple Horizontal Monopoly?

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St. Louis Terminal Railroad (1912) has been cited by a number of authors as a case of vertical foreclosure by competitive rivals. The alleged foreclosure has been used as a basis for the "Essential Facility Doctrine," an antitrust theory that has attracted a large degree of interest since Aspen Ski (1985). This book examines the factual basis for the claims of foreclosure. We find that a close examination of Terminal Railroad reveals that, consistent with the economic theory of vertical integration, no foreclosure occurred. Instead, Terminal Railroad was simply a case of horizontal monopoly. Our findings suggest that to the extent the Essential Facilities Doctrine is based upon this case, the doctrine should be reexamined.show more

Product details

  • Paperback | 32 pages
  • 215.9 x 279.4 x 2.03mm | 136.08g
  • Createspace
  • United States
  • English
  • black & white illustrations
  • 1514250233
  • 9781514250235