> " So the reason why price-fixing is illegal, and also unethical, is not that it hurts consumers. The key reason is that it violates one of the basic requirements for markets to work efficiently. In order for markets to function with anything approaching efficiency — never mind fairness — several conditions must obtain: for starters, there must be sufficient information in the hands of both buyer and seller, and the costs of transactions must be borne by the participants, rather than spilling over onto bystanders. But most important for the present case, markets can only be efficient if buyers have real options — that is, if no seller has the power to bully the market. Behavior aimed at letting one seller, or a group of sellers, bully the market is contrary to the requirements of efficient markets." http://businessethicsblog.com/2013/06/07/price-fixing-not-ju...
Re:Apple Apologizes and Updates iOS to Restore iPhones Disab...
by Drdrdrq on Thursday February 18, 2016 @04:49PM
(#11129589)
Why the newfound respect? I mean, do you think Apple would try to patch things up if there was no class action lawsuit?
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Re:Apple Apologizes and Updates iOS to Restore iPhones Disab...
by jonknee on Thursday February 18, 2016 @05:33PM
(#11129890)
Apple has settled cases (various defect cases come to mind) and fought others (eBook price fixing), legal action alone doesn't mean much to Apple.
Re:Apple Apologizes and Updates iOS to Restore iPhones Disab...
by craigyk on Thursday February 18, 2016 @05:40PM
(#11129931)
It's not entirely clear cut, but IMO apple was also in the right when it came to the ebook price fixing.
Re:Apple Apologizes and Updates iOS to Restore iPhones Disab...
by baldfat on Friday February 19, 2016 @07:36AM
(#11133111)
Wait, what? So you up for "Price Fixing?"