Cutthroat Competition
Summary of Cutthroat Competition
A discriminatory pricing practice whereby one vendor deliberately reduces prices to a low level with the object of driving out competition, thereby creating a monopoly or dominant market share. In the United States such practices are banned, although they are often employed in foreign countries.
(Main Author: William J. Miller)
Cutthroat Competition and International Trade Economy
In relation to international trade economy, Christopher Mark (1993) provided the following definition of Cutthroat Competition: Predatory or discriminatory pricing practices intended to drive out competition and establish market power. Such practices are proscribed by antitrust 4 laws in the United States, but they are often employed in other countries. See predation.
Leave a Reply