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?"
> " 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...
> " 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...