THE ECONOMICS OF THE OPEN CONFERENCE SYSTEM

As a result of having to comply with such legal and regulatory imperatives, conference structure and behaviour in the U.S. trades has been subject to some major economic consequences. Most important in this respect has been the promulgation of excess capacity, a problem towards which some of the particular aspects of regulation, especially the weak tying arrangements and the inadequate rate action allowed by conferences against outsiders, have contributed. The principal mechanisms giving rise to this characteristic element of open conferences, however, are somewhat different, and therefore the bulk of this article will be devoted to elucidating such mechanisms . In addition, the open conference system has also contributed to the proliferation of malpractices in U.S. trades, and the complexity of the procedural and administrative foundations of the overall regulatory scheme, through fostering an uncertain legal and regulatory environment and impinging on the sovereignty of foreign states, have likewise generated important economic and political problems. These difficulties, too, will be discussed.

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  • Corporate Authors:

    Taylor & Francis

    4 Park Square, Milton Park
    Abingdon,   United Kingdom  OX14 4RN
  • Authors:
    • Davies, J E
  • Publication Date: 1980

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Filing Info

  • Accession Number: 00323303
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Feb 6 1981 12:00AM