-12_Klein

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1 130902ｨｪ0103ｨ ｨｬｨｨｨｪ ｨｦｨｪ, 0406ｨ 0208ｨｰ ｨｮ , 0808ｨｬ02ｨｪ ﾂ07ｨｪ , *, ** ﾁ BENJAMIN KLEIN, ROBERT G. CRAWFORD, ARMEN A. ALCHIAN VERTICAL INTEGRATION, APPROPRIABLE RENTS, AND THE COMPETITIVE CONTRACTING PROCESS ｨ ｨｺｨ 0502ｨｰ 09 ｨｰ ｨｬ02ｨｪｨｨ, ｨｺ060001ｨ 0806ｨｮ ｨ 05 00ｨｮｨｪ01ｨ ｨｬ02ｨｪｨｰｨ 05ｨｹｨｪ ｨｰｨｺ0804ｨｰｨｨ02 06 ｨｰ06ｨｬ, ﾂｨｰ06 ｨｰ08ｨ ｨｪ09ｨ ｨｺ02ｨｨ06ｨｪｨｪ0402, ｨｺ ｨｨｨｪｨ 02ｨｨ06ｨｪｨｪ0402 ｨｨ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪ ｨ ｨｰ08ｨ ｨｰ ｨｪ ｨｪ06ｨｬ 09ｨｨ ｨ 0909ｨｬｨ ｨｰ08ｨｨ09ｨ ｨｰｨｹ ｨ ｨｲ0709ｨｪ02ｨｪｨｨ07 09ｨｰ020702ｨｪｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪ ｨｰ020008ｨ 02ｨｨｨｨ. 1 01ｨ ﾂｨ ｨｰ0806ｨｨ04ｨｬｨ, ﾂｨｰ06 00ｨｨ08ｨｬ04, ｨｬｨ ｨｺ09ｨｨｨｬｨｨ04ｨｨ08ｨｮ06ｨｴｨｨ ｨｨｨ 0405ｨｹ, ｨ ｨｮ01ｨｮｨｰ 0609ｨｮｨｴ0209ｨｰ090507ｨｰｨｹ ｨｰｨｮ ｨｰ0205ｨｹｨｪ0609ｨｰｨｹ, ｨｺ06ｨｰ060806ｨｦ, 0706 ｨｨ01 ｨｬｨｪ 02- ｨｪｨｨ06, ｨｮ0708ｨ ｨｰｨｹ ｨｨ04ｨｪｨｮｨｰ08ｨｨ, ｨｪ ｨｨ 0706ｨｺｨｮ07ｨ ｨｰｨｹ ｨｪｨ 0804ｨｪｨｺ02, 0806ｨｮ04 04ｨ 09ｨｰｨ 09ｨｨ05 05ｨｺ06ｨｪ06ｨｬｨｨ09ｨｰ0609 ｨｨ ｨ ｨｰｨｹ ｨ ｨｪｨｨ ﾂ02ｨｪｨｨ ｨ 04ｨ ｨｺ0506 ﾂ02ｨｪｨｨ ｨｺ, 0609ｨｰｨ ｨｪｨｪ ｨ ｨｪ0202 ｨ ｨｪｨｨｨｬｨ ｨｪｨｨ07, ｨｺ06ｨｰ ｨｬ0600ｨｮｨｰ 0102ｨｦ09ｨｰ09ｨｨｨｰ0205ｨｹｨｪ ｨｨ090209ｨｰｨｨ 09ｨｺ ｨｺ 09ｨｪｨｮｨｰ08ｨｨ00ｨｨ08ｨｬ02ｨｪｨｪ06ｨｦ, ｨｪ 02- * 0207ｨｮｨ 05ｨｨｨｺ0609ｨ ｨｪ06 09 Journal of Law and Economics Vol. 21. P. 297ｨC326. ** ｨｰｨｨｨｬ ｨ 04ｨｨｨｰｨｹ 0708ｨｨ04ｨｪｨ ｨｰ0205ｨｹｨｪ0609ｨｰｨｹ 04ｨ ｨｪ0402 ｨｺ06ｨｬｨｬ02ｨｪｨｰｨ 08ｨｨｨｨ ｨｺ ｨｮｨｴｨｨｨｬ 09ｨ 08ｨｨｨ ｨｪｨｰｨ ｨｬ 09ｨｰｨ ｨｰｨｹｨｨ 01ｨ ｨｹ01ｨｮ 0202ｨｬ090202ｨｮ, 05ｨｰｨｨ0902 ｨｪｨｮ 0808ｨｨ01ｨ ｨｮ, 00ｨｨｨｺｨｰ0608ｨｮ ｨｹ01ｨ ｨｮ, ｨｨ09ｨｮ 0806 ﾂｨｨｨｪｨｮ, 0802ｨｦｨｰｨｮ ｨｮ, 09ｨｨｨｪｨｪ 01ｨｪ02ｨｦ010208, ｨｮ 0606ｨｬ070906ｨｪｨｮ ｨｨ ｨｮ ﾂｨ 09ｨｰｨｪｨｨｨｺｨ ｨｬ 0902ｨｬｨｨｨｪｨ ｨｪｨｰ 0802 ｨｨ04ｨｮ ﾂ02ｨｪｨｨ07 ｨ ｨｬ0208ｨｨｨｺｨ ｨｪ09ｨｺ ｨ ｨｨ04ｨｪ0209ｨ 00ｨ 03ｨｨｨｪ00ｨｰ06ｨｪ09ｨｺ ｨｮｨｪｨｨ ｨｨ ｨｰ02ｨｰｨ, ｨ ｨｰｨ ｨｺ ｨｬｨｨｨｪｨ ｨｺ06ｨｪ06ｨｬｨｨｨｺ02 ｨｨ 0708ｨ 09ｨｮ 09 08ｨ 05ｨｨ000608ｨｪｨｨｨｦ09ｨｺ06ｨｬ ｨｨ ﾁ ｨｨ- ｨｺｨ 0009ｨｺ06ｨｬ ｨｮｨｪｨｨ ｨｨｨｰ02ｨｰｨ Coase R. H. The Nature of the Firm. 4 Economica (04ｨｮ0909ｨｺ : ｨｮ ｨｨ080601ｨ 00ｨｨ08ｨｬ ｨ.: ｨｨ 05ｨｺ06ｨｪ06ｨｬｨｨ ﾂ0209ｨｺ06ｨｦ ｨｬ040905ｨｨ ｨｨ07 00ｨｨ08ｨｬ04 / ｨ 05ｨｹ070208ｨｨｨｪｨ. 0503ｨ.: 06ｨｺ06ｨｪ06ｨｬｨｨ ﾂ0209ｨｺｨ 07 03ｨｺ0605ｨ, ｨC32.)

2 1306ｨｪｨｰ020008ｨ 02ｨｨ07, 0802ｨｪｨｰｨ ｨｨ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｨ ｨｺ ｨｬ020300ｨｨ08ｨｬ02ｨｪｨｪ06ｨｦ ｨｰ08ｨ ｨｪ09ｨ ｨｺ02ｨｨｨｨ ｨｰ06ｨｦ 08ｨ ｨ 06ｨｰ ｨ ｨｪｨ ｨｰｨｺｨ ｨｪｨｨｨｰｨｹ 05ｨｨｨｰ0208ｨ ｨｰｨｮ08ｨｮ ｨｰ06ｨｬｨｮ ｨｮ ｨｨ04ｨｮ ﾂ02ｨｪｨｨ02ｨｬ 0601ｨｪ ｨｨ04 09ｨｨ ｨｰ06ｨｨｨｬ0609ｨｰｨｨ ｨｨ ｨｹ040609ｨ ｨｪｨｨ ｨｪ06 ﾂｨｪ06ｨｦ 09ｨｨ09ｨｰ02ｨｬ04 ｪ ｨｬ0603ｨｪ0609ｨｰｨｨ ｨｰｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ02 ｨ ｨｨ0102ｨｪｨｰｨｨ00ｨｨ02ｨｨ080609ｨ ｨｪ06 ｨｨ ｨｨ ｨ ｨｪ ｨｬ02ｨｪｨｪ06ｨｬ ｨ ｨｪｨ 05ｨｨ ｨ ｨｪｨｨ04ｨ 02ｨｨｨｨ 05ｨｺ06ｨｪ06ｨｬｨｨ ﾂ0209ｨｺ06ｨｦ ｨｰ0205ｨｹｨｪ0609ｨｰｨｨ. 07ｨｨ05ｨｹ07ｨｬ0906ｨｪ, ｨｪｨ 0708ｨｨｨｬ0208, ｨｮ0706ｨｬｨｨｨｪｨ ｨｨ07ｨｪｨｨｨｨ ｨｪｨ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ ｨｺ 00ｨｪ02ｨ 0605ｨｹ ｨｺ0605ｨｨ ﾂ0209ｨｰ09ｨ ex post ｨｰｨｮｨｪｨｨ04ｨｬｨ 03, 2 ｨ 06ｨｨ09 ｨｮｨｰ ｨ ｨｮ06ｨｴ0202: 02ｨ ｨｨ 09 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ02 ｨｬ0603ｨｪ06 ｨ ｨ 04 ｨｮｨｺｨ 04ｨ ｨｰｨｹ ｨｪ ｨｨ0102ｨｪｨｪ ｨ 09ｨｰ0607ｨｰ0205ｨｹ09ｨｰ09ｨ, ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｰｨ 05ｨｨ09ｨｹ ｨ 04 ｨｪ0204 ｨ - ｨｴｨｨｨｴ02ｨｪｨｪ04ｨｬｨｨ 06ｨｰ ｨｹ0204ｨｪ ｨｨ09ｨｺ0609, ｨｰｨ ｨｺ ｨｺｨ ｨｺ 06ｨｪｨｨ ｨｪ ｨ 0906ｨ ｨ 06ｨｰ ｨ ｨｬｨｪ ｨｰ ｨｨｨｬ ｨｨ09ｨｺ0609, ｨ ｨｪｨｪ ｨｨ02ｨｬ ｨｺ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ ｨｬ ｭ 02ｨｰｨｺ0804ｨｰ ｨｪｨｨ ｨｰｨｮｨｪｨｨ04 ｨｬｨ ｨｪ02 ｨｰｨ ｨｺ ｨｮ ｨｺｨｨ, ｨ 09ｨｮ0102ｨ ｨｪ ｨ 04ｨ ｨｨ08ｨ ｨｰ0205ｨｹ09ｨｰ09ｨ 06ｨｺｨ ｨ 06ｨｰ ｨｰ0607ｨｴｨｨｨｬｨｨ ｨｨ ｨｪ ｨｺｨｰｨｨ09ｨｪ04ｨｬｨｨ ｨ 04ｨｬ 06ｨ 09ｨｰ0607ｨｰ0205ｨｹ09ｨｰ0906ｨｬ, ｨｺ06ｨｰ ｨｬ ｨｰ0205ｨｨ ｨ ｨｨｨｰｨｹ 09 ｨｺｨ ﾂ0209ｨｰ ｨｰｨｪ06ｨｦ 0708ｨｨ ﾂｨｨｨｪ04 ｨｮ ｨｪ020906ｨ ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺ- ｨｰ0609 ｨｰｨ ｨｺ ｨ, ｨｰ ｨｮｨｴ0209ｨｰ090609ｨ ｨｪｨｨ ｨｨ0909ｨ ｨｨ09ｨ 02ｨｬ ｨｨｨ 05ｨｨ04ｨｨ080609ｨ ｨｪｨｪ0401 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ ｨｰ ｨｺｨ ｨｺ ｨ ｨｪ ｨｪｨｪ0402 ｨｨｨｪ090209ｨｰｨｨ02ｨｨｨｨ ｨｨ ｨ ｨｪ04 ｨｰｨ ｨｺ ｨ ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ04, ｨｪｨｨ - ｨｺｨ 02ｨｰ 0802ｨ 05ｨｹｨｪｨ ｨｬ0603ｨｪ0609ｨｰｨｹ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ ｨｮ ｨｨｨｺ ｨｮ04ｨ, 05ｨｰｨ ｨ 0502ｨｬｨ ｨｬ060302ｨｰ ｨ 04ｨｰｨｹ ｨｪｨ 0109ｨｮｨｬ07 07ｨｮｨｰ07ｨｬｨｨ: 05ｨｨｨ ｨｰ0906ｨｬ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ, 05ｨｨｨ ｨｰ0906ｨｬ 04ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨ 09ｨｪ04ｨｬ ｨｮｨｴ02ｨｪｨｨ02ｨｬ, ｨ ｨｴｨｨｨｬ ｨｪ ｨ ｨｪｨ 05ｨｨ04ｨ, ｨ ｨｪｨｪ ｨｰ06ｨｦ 08ｨ ｨ 06ｨｰ02, ｨｰ ｨｮ06ｨｴ0202: ｨｺ0605ｨｹｨｺｨｮ ｨ ｨｺｨｰｨｨ ｨｰｨ ｨｪ060907ｨｰ0907 ｨ ｨｨ00ｨｨ ﾂ0209ｨｺｨｨｨｬｨｨ ｨｨ ｨ 02ｨｰ0907 ｨ 0605ｨｹ ｨｨ0909ｨ ｨｨ09ｨ 02ｨｬ06ｨｦ ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ04 (ｨｨ, ｨｺｨ ｨｺ ｨｰ09ｨｨ02 05ｨｰ060006, ｨ 09ｨｰｨ 02ｨｰ ｨｬ0603ｨｪ04ｨｦ 0904ｨｨ ｨｰ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ07), 09ｨｰ06ｨｨｨｬ0609ｨｰｨｹ 04ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06 ｨｪ- ｨｰ08ｨ ｨｺｨｰ ｨ 04 ﾂｨｪ06 ｨ ｨｮ0102ｨｰ , ﾂ02ｨｬ 09ｨｰ06ｨｨｨｬ0609ｨｰｨｹ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ ｨ ｨｰ0205ｨｹｨｪ06, ceteris paribus, ｨ ｨｰｨｪ ｨｪｨｨｨｺｨｪ060902ｨｪｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ. 2 Williamson O. E. Markets and Hierarchies: Analysis and Antitrust Implications ｨC30. 3 Teece D. J. Vertical Integration and Divestiture in the U. S. Oil Industry

3 ｨｪ0103ｨ ｨｬｨｨｨｪ ｨｦｨｪ, 0406ｨ 0208ｨｰ ｨｮ , 0808ｨｬ02ｨｪ ﾂ07ｨｪ I. 0308ｨｨ0909ｨ ｨｨ09ｨ 02ｨｬｨ 07 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰｨ 06ｨｰ ｨｨｨ 05ｨｨ04ｨｨ080609ｨ ｨｪｨｪ0401 ｨ ｨｺｨｰｨｨ ｨｮ09ｨｰｨｨｨｬ, ﾂｨｰ ｨｨｨｪ ｨｨｨｪ01ｨｨ09ｨｨ01ｨｮｨｮｨｬ 0905ｨ ｨｰ ｨ ｨｺｨｰｨｨ0906ｨｬ ｨｨ 0901ｨ ｨ 0802ｨｪ01ｨｮ 0108ｨｮ0006ｨｬｨｮ. 0809ｨ 04ｨｨ0802ｨｪｨｰｨｪ06ｨｦ 0202ｨｪｨｪ0609ｨｰｨｹ06 ｨ ｨｺｨｰｨｨ09ｨ ｨｰ ｨｪｨｨ ｨｪｨｪ0609ｨｰｨｨ ｨｪｨ ｨｨｨｺ09ｨｨ01ｨ 02ｨｨ06ｨｪｨｪ06ｨｦ 0202ｨｪｨｪ 06-09ｨｰｨｹ06, ｨｰ ｨｪｨｪ0609ｨｰｨｹ 0708ｨｨ ｨｮ06ｨｴ02ｨｬ 05ｨｮ ﾂ0302ｨｬ ｨｨ ｨｹ040609ｨ ｨｪｨｨｨｨ 0108ｨｮ00ｨｨｨｬ ｨ 0802ｨｪ01ｨ ｨｰ060806ｨｬ ｨｨｨ 05ｨｨ04ｨｨ080609ｨ ｨｪｨｪｨ 07 ﾂｨ 09ｨｰｨｹ ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ 04, ｨｺ06ｨｰ0608ｨｮ06 ｨｬ0603ｨｪ ｨｨ090906ｨｨｨｰｨｹ, ｨｨ ｨｰｨ ｨｺ0609ｨ 07 ｨｨｨｬ0202ｨｰ0907, ｪ 05ｨｰ ｨｪｨｨ02 ｨｪｨ ｨｪｨｪ0609ｨｰｨｹ06 ｨ ｨｺｨｰｨｨ09ｨ ｨｹ040609ｨ ｨｰ ｨｰ060806ｨｦ ｨｦ ｨｪｨｺ06ｨｦ ｨ ｨｺｨｰｨｨ09ｨ. ﾁｨｰ06ｨ 04 05ｨｰ06 08ｨ 0405ｨｨ ﾂｨｨ02 ｨｪ ｨｰｨ ｨｹ ｨｰ0605ｨｹｨｺ06 ｨｺｨ 03ｨｮｨｴｨｨｨｬ0907, 08ｨ 0909ｨｬ06ｨｰ08ｨｨｨｬ ｨｮ06ｨｴｨｨｨｦ 0708ｨｨｨｬ ｨｰｨ 09ｨｨｨｬ, ﾂｨｰ ﾂｨ ｨｰｨｪ04ｨｦ 09ｨｰｨ ｨｪ06ｨｺ ｨｪｨ ｨｨｨｰ ｨ 0102ｨｪｨｨｨｨ ｨｨ ｨｹ040609ｨ ｨｪｨｨｨｨ 05ｨｨ02ｨ ｨ ｨｰ0205ｨｹ B 0706ｨｺｨｮ07ｨ 02ｨｰ ｨｮ0905ｨｮ00ｨｨ 0702 ﾂｨ ｨｰｨｨ ｨｮ 05ｨｨ02ｨ 08, ｨ 0802ｨｪ01ｨｮ ｨｰｨ ｨｪ06ｨｺ 0706 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪ06ｨｦ 0202ｨｪ ｨｰ ｨｪｨｹ. 08ｨｬ0608ｨｰｨｨ04ｨ 02ｨｨ06ｨｪｨｪｨ ｨｰ0607ｨｪｨｪｨ 07 09ｨｰ06ｨｨｨｬ0609ｨｰｨｹ 0702 ﾂｨ ｨｰｨｪ ｨｰｨ ｨｪｨｺｨ ｨｰｨ ｨｰ 4 ｨｰ ｨｪｨｹ, ｨ ｨｰ02ｨｺｨｮｨｴｨ 07 05ｨｨｨｺ09ｨｨ01ｨ 02ｨｨ06ｨｪｨｪｨ ｨｪｨｪ0609ｨｰｨｹ 0708ｨｨ ｨｰｨ ｨｪ0609ｨｺ02 ｨｺｨｮ01ｨ -05ｨｨｨ ｨｰｨ ｨｰ 1 ｨｰ (05ｨｺ09ｨｨ09ｨ 0502ｨｪｨｰ 01ｨｪ0209ｨｪ06ｨｦ ｨ 0802ｨｪ01ｨｪ06ｨｦ 0705ｨ ｨｰ04) ｨ 02ｨｨ06ｨｪｨｪ ｨ ｨｰ08ｨ ｨｰ ｨｰｨ ｨｰ 1.5 ｨｰ ｨｨ ｨ ﾂｨｨ09ｨ 06ｨｰ ｨ ｨｹ0202ｨｬ 09ｨｰｨ ｨｪｨｺｨ, ｨｺ06ｨｰ060804ｨｦ 0702 ﾂｨ ｨｰｨ 02ｨｰ ｨｰｨｨ08ｨ ｨｨ0401ｨ ｨｰ ｨｮ09ｨｰｨｨｨｬ ｨｰｨ ｨｺ , ﾂｨｰ06 09ｨｰ060806ｨｦ ｨｨ0401ｨ ｨｰ0205ｨｹ C ｨｬ060302ｨｰ ｨｨｨｰｨｹ 09ｨ ｨｬ0602 ｨ 0605ｨｹ ｨｰ ｨ ｨｮ0905ｨｮ00ｨｨ ｨｪｨｹ. 0602ｨｺｨｮｨｴｨ 07 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰｨ 06ｨｰ ｨｮ09ｨｰｨ ｨｪ ｨｪｨｪ ｨｰｨ ｨｪｨｺｨ ｨｰｨ ｨｰ 3 ｨｰ (5.5 ｨｰ ｨC ｨC 1 ｨｰ ), ｨｮ ﾂｨｺｨ ｨｬｨｨｨｪｨｮ ｨ 02ｨｨ06ｨｪｨｪ ｨ ｨｰ08ｨ ｨｰ04 ｨｨ ｨｬｨｨｨｪｨｮ09 05ｨｨｨｺ09ｨｨ01ｨ 02ｨｨ06ｨｪｨｪｨ ｨｪｨｪ0609ｨｰｨｹ. 0201ｨｪｨ ｨｺ ｨｪ0209ｨｪｨ 07 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰｨ 06ｨｰ ｨｨ0401ｨ ｨｰ B 06ｨｰｨｪ0609ｨｨｨｰ0205ｨｹｨｪ ｨｬ0603ｨｪ ｨｨ ｨｹ040609ｨ ｨｪｨｨ07 09ｨｰｨ ｨｪｨｺｨ ｨｨ0401ｨ ｨｰ020502ｨｬ C ｨｰｨ ｨｰ ｨｰ0605ｨｹｨｺ06 2 ｨｰ (5.5 ｨｰ ｨC 3.5 ｨｰ ). 0308ｨｨ ｨｪ0209ｨｪ06ｨｦ ｨｮ ﾂｨｺ ｨｰ , ｨｮ ﾂｨ 02ｨｬ06ｨｦ 06ｨｰ ｨｨ0401ｨ ｨｰ B, ｨｪｨｨ ｨ ｨｹ02ｨ 09ｨｰｨ ｨｪｨｺｨ 06ｨｺｨｮ0707ｨｰ ｨ, ｨｨ ｨｨ0401ｨ ｨｰ0205ｨｹ 09ｨｬ0600 ｨ 04 09ｨｪｨｨ04ｨｨｨｰｨｹ 0202 ｨｪｨｮ ｨｰ ﾂｨｰｨｨ 3.5 ｨｰ , ｨｮ0905ｨｮ00ｨｨ 0702 ﾂｨ ｨｰｨｨ ｨｴ02 02ｨｬｨｮ ｨｰｨ ｨｨ09ｨｹ ｨ ｨｪ ｨ ｨｨ0909ｨ ｨｨ09ｨ 05 2 ｨｰ ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ ｨ ｨｹ02ｨ 09ｨｰｨ ｨｪｨｺｨ. 04ｨ 04ｨｪｨｨ02ｨ 09 2 ｨｰ ｨｬ020301ｨｮ ｨｮｨｴ02ｨｦ ｨ ｨ ｨｪｨｪ06ｨｦ ｨｪ0209ｨｪ06ｨｦ 09ｨｰｨ 09ｨｺ06ｨｦ ｨ 0802ｨｪ01ｨｪ06ｨｦ 0705ｨ ｨｰ ｨｰ ｨｨ ｨｮ06ｨｴ02ｨｦ 05ｨｮ ﾂ0302ｨｦ ｨｮ ﾂｨｺ06ｨｦ 06ｨｰ 09ｨｰｨ ｨｪｨｺｨ, 0708ｨｨｨｰ06ｨｬ ﾂｨｰ06 09ｨｰｨ ｨｪ06ｨｺ ｨ 0405 ｨｪ02ｨｺ060001ｨ ｨｺｨｮ070502ｨｪ ｨｨ ｨｮ09ｨｰｨ ｨｪ ｨｪ, ｨｬ02ｨｪｨｹ0302 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ04 ｨｨ ｨｰ06ｨｬｨｮ 09ｨｮｨｴ0209ｨｰ09ｨｮ02ｨｰ ｨｬ0603ｨｪ0609ｨｰｨｹ ｨｨ ｨｪ ｨｨ ｨｨ ｨ ｨｰ06ｨｬ ｨｬ0209ｨｰ02 ｨｪ02 ｨ ｨｰ ｨｨ02ｨ, ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰｨ ｨｪｨ ｨｨ05ｨ 09ｨｹ ｨ ｨｮ ｨｦ 0708ｨｨ ｨｪｨｨ07 ｨ ｨｰｨｪ04ｨｬ ｨｨ05ｨｨ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺｨｨ ｨｪｨ 09ｨｰ080602ｨｪｨｪ04ｨｬ ｨｨ0401ｨ ｨｰ020502ｨｬ.

4 1306ｨｪｨｰ020008ｨ 02ｨｨ07, 0802ｨｪｨｰｨ ｨｨ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｮ06 06 ﾂ ｨｹ ｨｪｨ 09 ｨｨｨｪｨｰ ｨｮ02ｨｰ, ｨｺｨ ｨｺｨｨｨｬｨｨ ｨ ｨ ｨｬｨｨ 05ｨｰ06ｨｰ 08ｨｨ09ｨｺ ｨｬ0603ｨｪ06 09ｨｪｨｨ04ｨｨｨｰｨｹ ｨｨ05ｨｨ ｨｺｨ ｨｺ ｨｨ04ｨ 0203ｨ ｨｰｨｹ. 00 ﾂｨ 09ｨｰｨｪ0609ｨｰｨｨ, ｨｰｨｨｨｺｨ 05ｨｹｨｪｨ 07 ｨｨｨｪｨｰ020008ｨ 02ｨｨ07 08ｨ 0909ｨｬｨ ｨｰ08ｨｨ09ｨ 02ｨｰ0907 ｨｺｨ ｨｺ ｨ 05ｨｺ06ｨｪ06ｨｬ ｨｨｨｨ 04ｨ ｨｰ08ｨ ｨｰ 0906 ｨｨ04ｨ 0203ｨ ｨｪｨｨ02 08ｨｨ09ｨｺ ｨｨ ｨｪｨｨ07 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ04 06ｨｰ ｨｨ- ｨ 05ｨｨ04ｨｨ080609ｨ ｨｪｨｪ0401 ｨ ｨｺｨｰｨｨ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺｨｨ ｨｪｨ 09ｨｰ080602ｨｪｨｪ04ｨｬｨｨ ｨｨ ｨｪ- 01ｨｨ09ｨｨ01ｨｮｨｮｨｬｨ ｨｬｨｨ ｨｨｨｬｨｮｨｴ0209ｨｰ ｨｬ0209ｨｰｨｪ ｨ 0102ｨｪｨｨ ｨ ｨｪ ｨ ｨｨｨ 05ｨｨ04ｨｨ080609ｨ ｨｪｨｪ04ｨｬｨｨ ｨ ｨｺｨｰｨｨ09ｨ ｨｬｨｨ, ｨ ｨｨｨｬ02ｨｪｨｪ06 05ｨｺ06ｨｪ06ｨｬｨｨ07 04ｨ ｨｰ08ｨ ｨｰ ｨｪｨ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ 02ｨｨ06, ｨｪ0206ｨ ｨｨｨｬ ｨ ﾂ02ｨｪｨｨ07 ｨｪ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ07, ｨｪ06, 0209ｨｰ0209ｨｰ0902ｨｪｨｪ06, ｨｪｨｨ09ｨ ｨｰｨｹ ｨ 09ｨｪ02ｨｪｨｨｨｨ 09 04ｨ ｨｰ08ｨ ｨｰｨ ｨｬｨｨ ｨｪｨ ｨｮ0708ｨ ｨｪｨｨ ｨｨｨｬ ｨｺ0605ｨｨ ﾂ0209ｨｰ09 06ｨｬ ｨ ｨｺｨｰｨｨ ｨｪｨｮｨｰ08ｨｨ 00ｨｨ08ｨｬ ｨｨ0909ｨ ｨｨ09ｨ 02ｨｬｨ 07 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰｨ ｨｪ ｨｰ ｨ 04 ﾂｨｪ06ｨｬ 09ｨｬ ｨｬ06ｨｪ ｨｹｨｪ06ｨｦ 0802ｨｪｨｰ06ｨｦ, ｨｰ ｨｪｨｪ06ｨｦ 0202ｨｪｨｪ0609ｨｰｨｹ06 ｨ ｨｺｨｰｨｨ090609, 04ｨ ｨｴｨｨｨｴ02ｨｪｨｪ ｨｰ ｨ ｨｪｨ 0804ｨｪ06ｨｺ, ｨｰｨｪ060302ｨｪｨｨ06 ｨｺ 0202ｨｪｨｪ0609ｨｰｨｨ, ｨｺ06ｨｰ0608ｨｮ06 06ｨｪｨｨ ｨｨｨｬ0205ｨｨ ｨ ｨｮ ｨｨ ｨｰｨｺ0804ｨｰ ｨｪｨｺｨ. 0308ｨｨ0909ｨ ｨｨ09ｨ 02ｨｬｨ 07 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰｨ ｨｬ060302ｨｰ ｨｨｨｬ02ｨｰｨｹ ｨｬ0209ｨｰ06 ｨｨ 09 ｨｰ06ｨｬ 0905ｨｮ ﾂｨ 02, ｨｨ 0804ｨｪ06ｨｺ 06ｨｰｨｺ0804ｨｰ ｨｨ ｨｪ02 ｨｪｨ ｨｪ ｨ ｨｪｨｨ ﾂ02ｨｪｨｨ07 ｨｪｨ ｨｪｨｨ ﾂｨ 06ｨｴｨｨ02 ｨ ｨｺｨｰｨｨ ｨｰｨ ｨｪ0609ｨｺｨ 0601ｨｪｨ ｨｮ09ｨｰｨ ｨｪ ｨｪｨｪ ｨ 0608ｨｮ010609ｨ ｨｪ ｨｨ07 ｨｬ060302ｨｰ ｨ 04ｨｰｨｹ ｨｪｨ 09ｨｰ0605ｨｹｨｺ ｨｦ ｨｨ05ｨｨ 06ｨ 0608ｨｮ010609ｨ ｨｪｨｨ02 ｨｪｨ 09ｨｰ0605ｨｹｨｺ ｨｨｨ 05ｨｹｨｪ ｨｪｨ 04ｨｪｨ ﾂ02ｨｪｨｪ04ｨｬ ｨｪｨｪ ｨｹ040609ｨ ｨｰ , ﾂｨｰ ｨｨ 09ｨｮｨｬｨｬｨ, ｨ ﾂｨｨ09ｨ 02ｨｬｨ ｨ ｨｹ02ｨｮ, ｨｬ060302ｨｰ ｨ 04ｨｰｨｹ ｨｺｨ ｨｺｨｨｨｬ - ｨｰ06 06ｨ 08ｨ 0406ｨｬ 09ｨｪｨｨ0302ｨｪｨ, ｨｰ06 06ｨ ｨｲ02ｨｬ ｨｮ0905ｨｮ00 ｨｪ ｨｺ08ｨ ｨｰｨｨｨｰ ｨ ｨｺｨｨｨｬ 06ｨ 08ｨ 0406ｨｬ, 01ｨ ｨｨ ｨ 04 ｨｨｨｬ0205ｨ ｨｬ0209ｨｰ06 06ｨｰｨｺ0804ｨｰｨ 07 ｨｺ06ｨｪｨｺｨｮ0802ｨｪ02ｨｨ07 04ｨ ｨｪｨ 0804ｨｪ06ｨｺ, 0608ｨｨ02ｨｪｨｰｨｨ080609ｨ ｨｪｨｪ0609ｨｰｨｹ ｨｮ09ｨｰｨ ｨｪ ｨｪｨｪ ｨ 0608ｨｮ ｨ ｨｪｨｨ07 ｨｪｨ ｨｪｨｪ ｨｹ040609ｨ ｨｰ (05ｨｨｨ 06, ｨｰ06 ﾂｨｪ0202, ｨｺｨｨ02 04 ｨ - ｨｰ08ｨ ｨｰ04 ｨｪｨ ｨｰ06, ﾂｨｰ06ｨ ｨ ｨｰｨｹ ｨｰｨｮ07ｨｪ04ｨｬ ｨｮ00ｨｨ01) ｨ 02 ｨｰ ｨｨｨｬ02ｨｪｨｪ06 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰｨｮ, ｨ ｨｪ02 00ｨｬ06ｨｪ ｨｹｨｪｨｮ ｨｪｨｰｨｮ. 0208ｨｮ0006ｨｦ ｨｺ08ｨ ｨｦｨｪｨｨｨｦ 0905ｨｮ ﾂｨ ｨｦ, ｨｺ060001ｨ ｨ ｨｺｨｰｨｨ0904 ｨｬ0600ｨｮｨｰ ｨ 04ｨｰｨｹ ｨ ｨｪ04 ｨ ｨ ｨｰ08ｨ ｨｰ 0108 ｨｮ- 0006ｨｬｨｮ ｨｹ040609ｨ ｨｰ ｨｨ 0708ｨｨ 05ｨｰ06ｨｬ 0202ｨｪｨｪ0609ｨｰｨｹ ｨｨ01 ｨｪ02 09ｨｪｨｨ04ｨｨｨｰ0907, ｨｪ0209ｨｬ06ｨｰ0807 ｨｪｨ ｨｰ06 ﾂｨｰ ｨｪｨ 0804ｨｪ06ｨｺ ｨ ｨｪ0401 ｨ ｨｺｨｰｨｨ ｨ ｨｪｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪｨ 07 ｨｨｨｪｨｰ020008ｨ 02ｨｨ07 ｨｪ02 ｨｨ04ｨ ｨ ｨｰ 06ｨｰ ｨ 0502ｨｬ, ｨ ｨｪｨｪ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ02ｨｬ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｪ06 08ｨ 0909ｨｬｨ ｨｰ08ｨｨ09ｨ ｨｰｨｹ 00 ｨｨ08ｨｬｨｮ ｨｺｨ ｨｺ ｨｪ02ｨｺｨｮ ｨｪｨｮ06 ｨｪ020804ｨｪ06 ﾂｨｪｨｮ06 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪｨｮ06 09ｨｨ09ｨｰ02ｨｬｨｮ, 09 ｨｺ06ｨｰ ｨｦ 0102ｨｦ09ｨｰ09ｨｮ06ｨｰ ｨｨ02 09ｨｨ ｨｪｨｺ 01ｨ ｨｦｨｰ ﾂ0208ｨｺｨｨ09ｨ 05 09ｨ 03ｨｪ0609ｨｰｨｹ 05ｨｰ ｨ ｨ ｨｰ ｨｰ06ｨｬｨｮ ｨｪｨ 04ｨ ｨｮ06ｨｴ02ｨｬ ｨｮｨｰ ｨｪｨｨｨｨ: 0000ｨｪ ｨｮ- ｨｰ0802ｨｪｨｪｨｨ ｨ 0502ｨｬ04 ｨｺ ｨ 02ｨｨｨｨ, ｨｪ0206ｨ ｨｨｨｬ0609ｨｰｨｹ 04ｨ ｨｴｨｨｨｰ ｨ 04 ｨｪ0401 ﾂ0502ｨｪ0609 ｨｨ 09ｨｰ060806ｨｪｨｪｨｨｨｺ ｨｰ 01ｨｨｨｴｨｪｨｨ ﾂ0209ｨｺｨｨ01 ｨｪｨ ｨｺ0506ｨｪｨｪ0609ｨｰ02ｨｦ 0108ｨｮ0006ｨｦ ｨｰｨ ｨｺ ｨ 03ｨｪ04, ｨｺｨ ｨｺ ｨｨ 09ｨｪ0203ｨｪ ｨ 0502ｨｬｨ 04ｨ ｨｴｨｨｨｰ04 06ｨ ｨｴ0209ｨｰ0902ｨｪｨｪ0401 ｨｨｨｪｨｰ ｨｰ 05ｨｺ090705ｨｮｨ ｨｰｨ 02ｨｨｨｨ ｨｺ ｨ 02ｨｨ02ｨｦ03. Knight F. H. Risk, Uncertainty, and Profit

5 ｨｪ0103ｨ ｨｬｨｨｨｪ ｨｦｨｪ, 0406ｨ 0208ｨｰ ｨｮ , 0808ｨｬ02ｨｪ ﾂ07ｨｪ ﾂ02ｨｪ ｨｰ06ｨｬ 0905ｨｮ ﾂｨ 02 ｨｨｨｬ0202ｨｰ ｨｬ0209ｨｰ06 ｨｬ06ｨｪ ｨｹｨｪｨ ｨｪｨｰｨ, ｨ ｨｪ02 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰｨ ｨｬ060302ｨｬ ｨｨ ｨｹ040609ｨ ｨｰｨｹ ｨｰ0208ｨｬｨｨｨｪ ｨｨ06, 06ｨｰｨｪ060907ｨｴｨｮ ｨｺ 0706ｨｪ07ｨｰｨｨ06 ｨｬ06ｨｪ ｨｨｨｨ, ｨ ｨｲ0709ｨｪ02ｨｪｨｨ07 ｨｨ ｨｮ02ｨｬ ｨｪｨｨ07, ｨｨ ｨｬ ｨｪｨ 02ｨｬ, ﾂｨｰ ﾂｨｹ ｨｪ02 ｨｨ0102ｨｰ 06ｨ 06ｨ 04 ﾂｨｪ06ｨｦ ｨｬ06ｨｪ ｨｨｨｨ, ｨ ｨｪｨｪ06ｨｦ ｨｰ0906ｨｬ ｨｮ01ｨ 0809ｨｰ0902ｨｪｨｪ ｨ ｨｪｨｨ ﾂ02ｨｪｨｨｨｦ ｨ ｨｪｨ 0804ｨｪ06ｨｺ, ｨｨ05ｨｨ ｨｨｨｪ09ｨｰ0902ｨｪｨｪ06ｨｬ ｨｰｨ 09ｨｴｨｨｨｺ02, ｨｨ05ｨｨ 01ｨ ｨｺ06ｨｦ ｨｺ06ｨｪ0202ｨｪｨｰ08ｨ 02ｨｨｨｨ ｨｪｨｨ ｨｪ06ｨｦ ｨｨ04 00ｨｮｨｪ01ｨ ｨｬ02ｨｪｨｰｨ 05ｨｹｨｪ ｨｺ 01ｨ ｨｪｨｪ06ｨｦ 08ｨ ｨ 06ｨｰ ｨｰ0907 ｨｰ06, ﾂｨｰ ｨ 09ｨｰｨｹ ｨｬ06ｨｪ ｨｨｨｨ, ｨｨ05ｨｨ 05ｨｮ ﾂ ｨｪｨ ｨ ｨｰｨｹ ｨｪ06 ﾂｨｪ06ｨｦ 0905ｨ 09ｨｰｨｹ0603, ｨｰ ｨｨ0806ｨｺ06 08ｨ ｨｰ08ｨ ｨｪ02ｨｪｨｪ06ｨｦ ｨｺ0605ｨｹｨｺｨｮ 09ｨｮｨｴ0209ｨｰ09ｨｮ06ｨｰ ｨｰ08ｨ ｨｪ09ｨ ｨｺ02 ｨｨ- 06ｨｪｨｪ ｨ ｨｰ08ｨ ｨｰ04 ｨｨ 04ｨ ｨｰ08ｨ ｨｰ04 ｨｪｨ ｨｬ02ｨｴ02ｨｪｨｨ02, ｨｪ06 ﾂｨｪｨ ｨ 09ｨｰｨｹ03 ｨ ｨｮ0102ｨｰ 09ｨｮｨｴ0209ｨｰ090609ｨ ｨｰｨｹ 0906 ｨｬｨｪ0600ｨｨ01 09ｨｨｨｰｨｮｨ 02ｨｨ0701, 06ｨ 04 ﾂｨｪ06 ｨｪ02 ｨｨｨｬ02ｨｪｨｮ02ｨｬ0401 ｨｬ06ｨｪ ｨｨ07ｨｬｨｨ ｨｰ 09ｨｮｨｴ0209ｨｰ090609ｨ ｨｰｨｹ ｨｬｨｪ ｨｰ ｨｰ02ｨｪ02ｨｨｨ 05ｨｹｨｪ ｨｰｨ 09ｨｴｨｨｨｺ ｨｪｨｪ0401 ｨ ｨｺｨｰｨｨ ｨｪｨｪ ｨｹ040609ｨ ｨｰ020507, ｨｪ ｨｨ ｨｨｨｪ090209ｨｰｨｨ02ｨｨｨｨ 09 01ｨ ｨｪｨｪ04ｨｦ 09ｨｨ01 ｨ ｨｺｨｰｨｨ ｨｮ ｨｪｨ ｨ ｨｪ04, 05ｨｰ06ｨｰ 09ｨｨ01 ｨ ｨｺｨｰｨｨ ｨｬ060302ｨｰ ｨ 04ｨｰｨｹ ｨｪｨ 09ｨｰ0605ｨｹｨｺ ｨｨ02ｨｪｨｰｨｨ080609ｨ ｨｪ ｨｪｨ ｨｪｨｪ ｨｹ040609ｨ ｨｰ020507, ﾂｨｰ ｨｪｨｨ ｨｺｨ 02ｨｰ 0804ｨｪ06 ﾂｨｪｨ ｨ 09ｨｰｨｹ ｨｬ06ｨｪ ｨｨｨｨ ｨｨ05ｨｨ ｨｬ06ｨｪ ｨｪｨｨｨｨ 05ｨｨｨ ｨｪ ｨｬ02ｨｪｨｪ06 06ｨ ｨ 05ｨｰｨｨ 09ｨｨ01ｨ 0804ｨｪ06 ﾂｨｪ06ｨｦ 0905ｨ 09ｨｰｨｨ. 0308ｨｨ ﾂｨｨｨｪ06ｨｦ, ｨｰ0902ｨｪｨｪ06ｨｦ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ, ｨｺ06ｨｰ0608ｨｮ06 ｨｪ ｨｮ02ｨｰ, 0601ｨｪｨ ｨｺ06, 09ｨｬ0203ｨｨ09ｨ ｨｰｨｹ ｨｬ02ｨｰ06ｨｬ ｨｪｨ ｨｪ ｨｪ ｨｨｨｪｨｰ ｨ, ｨｰ ｨｰｨｨｨｬｨ 05ｨｹｨｪ04ｨｦ ｨｮ09ｨｺ ｨｨ 0202ｨｪ0606ｨ 08ｨ ｨ - ｨｪｨｨ ｨｮ ｨｮ06ｨｴｨｨ ｨｨｨｪ 04ｨ 0108ｨｮ00ｨｨｨｬ ｨｬ06ｨｪ ｨｨ09ｨｰ0609 ｨｨ05ｨｨ 0109ｨｮ09ｨｰ060806ｨｪｨｪｨｨ01 ｨｬ06ｨｪ ｨｨ09ｨｰ0609 (020905ｨｨ ｨｹｨｪｨ ｨｮ ﾂｨｺｨ ｨｬ02ｨｪｨｹ ｨｪ04). 0609ｨｺｨ 0302ｨｪｨｨ ｨｪｨｨｨｺｨ 02ｨｰ ｨｨ 09 ｨｰ02ｨｬ, ﾂｨｰ06 ｨｺｨ ｨｦ ｨｨ04 ｨｪｨｨ01 ｨｨｨｬ0202ｨｰ ｨｨ09ｨｺｨ 0302ｨｪｨｪ06ｨｦ ｨｹｨｪ06ｨｦ ｨｮ ﾂｨｺ06ｨｦ ｨｨ05ｨｨ ｨｹｨｪ04ｨｬｨｨ 04ｨ ｨｰ08ｨ ｨｰｨ ｨｬｨｨ ｨｰ07 ｨｨ ｨｪ06 ｨｰ06, ﾂｨｰ06 05ｨｰ06 ｨｨ09ｨｺｨ 0302ｨｪｨｨ ｨｨ ｨｪｨ 05ｨｨ ﾂｨｨｨｨ ｨｮ06ｨｴｨｨ ｨｨｨｪ 04ｨ 0108ｨｮ00ｨｨｨｬ ｨｬ06ｨｪ ｨｨ09ｨｰ0609 ｨｬ0603ｨｪ ｨｰｨｹ 0708ｨｨ 0706ｨｬ06ｨｴｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ, ｨｮ05ｨｹｨｰｨ ｨｰ04 ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ ｨｰ0605ｨｹｨｺ ｨｰ06ｨｦ 0201ｨｨｨｪ09ｨｰ0902ｨｪｨｪ06ｨｦ ｨｨ ｨｬ060005ｨｨ ｨ 04 ｨ 04ｨｰ ｨｹ ｨｰｨｨ00ｨｪｨｮｨｰ04 ｨｨ 0708ｨｨ 0706ｨｬ06ｨｴｨｨ 04ｨ ｨｺ0506 ﾂ02ｨｪｨｨ ﾂｨｪ ｨｨ05ｨｨ ｨ ｨｰｨ 05ｨｹｨｪ ｨ ｨ 06ｨｰｨ ｨｪｨｪ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ, 0609ｨｪ0609ｨ ｨｪｨｪ ｨｪｨ 0102 ｨｦ ｨ 0502ｨｬｨ ｨ ｨｰ0205ｨｹｨｪ06ｨｦ ｨｨ 0109ｨｮ09ｨｰ060806ｨｪｨｪ02ｨｦ ｨｬ06ｨｪ ｨｨｨｨ ｨｨ ｨｰｨｪｨ ｨｮ ｨ 09ｨｪ06 ｨｨ 08ｨ 0909ｨｬｨ ｨｰ08ｨｨ09ｨ 05ｨ 09ｨｹ 0906 ｨｬｨｪ0600ｨｨ01 08ｨ ｨ 06ｨｰｨ ｨｬ., ｨｪｨ 0708ｨｨ ｨｬ0208: Bork R. Vertical Integration and the Sherman Act: The Legal History of an Economic Misconception. U. Chi. L. Rev Vol. 22. P. 157, 196; ｨ ｨｰｨ ｨｺ ｨ 09ｨｮ030102ｨｪｨｨ02 09: Machlup F., Taber M. Bilateral Monopoly, Successive Monopoly, and Vertical Integration. Economica Vol. 27. P. 101, ｨ 0502ｨｬｨ 01ｨ ｨｰｨｨ08ｨｮ02ｨｰ ｪ ｨｬ 0202 ｨｨ ｨｪｨｨ ｨ ｨ 06ｨｰ02 08ｨｮ08ｨｪ06.

6 1306ｨｪｨｰ020008ｨ 02ｨｨ07, 0802ｨｪｨｰｨ ｨｨ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｰ09ｨｨｨｰ0205ｨｹｨｪ ｨｹｨｪ ｨ ｨｰ08ｨ ｨｰｨ 01 ｨｨ ｨｮ ﾂｨｺ02. 02ｨ ｨｲ0201ｨｨｨｪ02ｨｪｨｨ ｨ 09ｨｰ0902ｨｪｨｪ0609ｨｰｨｨ ｨｬ060302ｨｰ ｨｨｨｪ060001ｨ ｨｨ ｨｹ040609ｨ ｨｰｨｹ ｨｺ06ｨｪ06ｨｬｨｨｨｨ 04ｨ ｨｰ08ｨ ｨｰ ｨｪｨ ｨｪｨｨ , ｨｰ09ｨｮ06ｨｴｨｨ01 04ｨ ｨｺ0506 ﾂ02ｨｪｨｨ06 ｨｺ 06ｨｪｨｰ08ｨ ｨｺｨｰｨ. 0201ｨｪｨ ｨｺ06 ｨｬ04 04ｨ ｨｪｨｨｨｬｨ 02ｨｬ0907 ｨｨ ｨ ｨｪｨｨ02ｨｬ 0108ｨｮ0006ｨｦ 0708ｨｨ ﾂｨｨｨｪ ｨｬ0209ｨｰｨｪ ｨ 0102ｨｪｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ ｨ ｨｪｨｪ04ｨｬｨｨ ｨ ｨｺｨｰｨｨ09ｨ ｨｬｨｨ ｪ ｨ ｨｪｨｨ02ｨｬ ｨｨ04ｨ 0203ｨ ｨｰｨｹ ｨｰｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ ｨｨ ｨｪｨ 05ｨｨ ﾂｨｨｨｨ ｨｨｨ 05ｨｨ04ｨｨ080609ｨ ｨｪｨｪ0401 ｨ ｨｺｨｰｨｨ ｨｨ ｨｬ0603ｨｪ0609ｨｰｨｨ 0708ｨｨ ｨｪｨｨ07 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ ｨ ｨｨｨｬ ｨｪ06 06ｨｰ05ｨｨ ﾂｨ ｨｰ ｨｹ ｨｰ08ｨ ｨｪ09ｨ ｨｺ02ｨｨ06ｨｪｨｪ0402 ｨｨ ｨｨｨｪ000608ｨｬｨ 02ｨｨ06ｨｪｨｪ ｨ ｨｰ08ｨ ｨｰ04 ｨｪｨ ｨｰｨｨ0302ｨｪｨｨ ｨ 0302ｨｪｨｨ07 (06ｨ ｨｪｨ 08ｨｮ0302ｨｪｨｨ02 ｨｨ 0708ｨｨｨｪ07ｨｰｨｨ ｨｪｨｨｨｬｨ ｨｪｨｨ ｨｦ09ｨｰ09ｨｨｨｰ0205ｨｹｨｪ ｨ ｨｰ08ｨ ｨｰ ｨｨ ｨｮ ﾂｨｺｨｨ, ｨ ｨｰｨ ｨｺ ｨｰｨｨ0302ｨｪｨｨ ｨ 0302ｨｪｨｨ ｨ ｨｨｨ 0405ｨｨ) 06ｨｰ 04ｨ ｨｰ08ｨ ｨｰ ｨｪｨ 01ｨ ｨｪｨｨ02, ｨ ｨｪｨｪ ｨ ﾂ02ｨｪｨｨ02ｨｬ ｨｪ02ｨｪｨｨ07 06ｨ 0704ｨ ｨｰ0205ｨｹ09ｨｰ ｨｰ0902ｨｰ09ｨｰ09ｨｨｨｨ ｨ 0302ｨｪｨｨ 02ｨｬ, ｨ 02ｨｪｨｪ ｨｨ 05ｨｰ ｨ 0302ｨｪｨｨ02 ｨｺｨ 09ｨ 02ｨｰ0907 ｨｨ ｨｹ040609ｨ ｨｪｨｨ ｨｨｨ 05ｨｨ04ｨｨ080609ｨ ｨｪｨｪ0401 ｨ ｨｺｨｰｨｨ ｨｬ02ｨｪｨｪ ｨｪ ｨｨｨｰｨｮｨ 02ｨｨ07, ｨｺ06ｨｰ06-08ｨｮ06 ｨｬ ｨｹ ｨｨ ｨｮ02ｨｬ, ｨ 02ｨｰ ｨｬ06ｨｰｨｨ09ｨ 02ｨｨ06 09ｨｺ ｨｪｨｮｨｰ - 08ｨｨ00ｨｨ08ｨｬ02ｨｪｨｪ0401, ﾂ02ｨｬ ｨｬ020300ｨｨ08ｨｬ02ｨｪｨｪ0401 ｨｰ08ｨ ｨｪ09ｨ ｨｺ02ｨｨｨｦ ｨｮｨｰ ｨ 02ｨｬ, ﾂｨｰ ｨｨ 0601ｨｨｨｪ ｨｨ04 ｨ ｨｺｨｰｨｨ ｨ 05ｨ 01ｨ 02ｨｰ 04ｨｪｨ ﾂｨｨｨｰ0205ｨｹｨｪ06ｨｦ ｨｦ ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ04, ｨｺ06ｨｰ0608ｨ 07 09ｨｨ05ｨｹｨｪ06 04ｨ 09ｨｨ09ｨｨｨｰ 06ｨｰ ｨｺｨ ｨｺ ｨｨｨ ｨｮ ｨｪｨｪ ｨ ｨｺｨｰｨｨ09ｨ, 06ｨ ｨ 09ｨｨ01ｨ ｨ ｨｺｨｰｨｨ090609, 09ｨｺ , ｨ ｨｮ01ｨｮｨｰ ｨｪｨ ｨｨｨｰｨｹ ｨ 09ｨｰ0902ｨｪｨｪ0609ｨｰｨｨ ｨｮ 0601ｨｪ ｨｨ02ｨ ｨｨｨｬ0208ｨｮ, 08ｨ 0909ｨｬ06ｨｰ08ｨｨｨｬ 02ｨｴ02 08ｨ 04 ｨｪｨ ｨｮ ﾂｨ ｨｦ ﾂｨ ｨｰｨｪ04ｨｬ 09ｨｰｨ ｨｪｨｺ06ｨｬ. 05ｨｪｨ 07 ｨｰ06, ﾂｨｰ06 09ｨｰｨ ｨｪ06ｨｺ ｨ ｨｮ0102ｨｰ 09ｨｮｨｴ0209ｨｰ090609ｨ ｨｰｨｹ ｨｨ ｨｨ ｨｹ040609ｨ ｨｰｨｹ 0907, 01ｨ ｨｨ ｨ ｨｮ ﾂｨｨｨｰ ｨｪ02 ｨ ｨｰ , ｨｨ0401ｨ ｨｰ0205ｨｹ B 09ｨｬ0600 ｨ 04 ｨｪｨ ｨｦｨｰｨｨ ｨ 0901ｨ ｨｪｨｨ ｨｰｨｺｨ 04ｨ 06ｨｰ ｨｪｨ ﾂｨ 05ｨｹｨｪ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ, ﾂｨｰ06ｨ 04 09ｨｪｨｨ04ｨｨｨｰｨｹ ｨｪ ｨｹｨｪｨｮ06 09ｨｰｨ 09ｨｺｨｮ ｨ 0802ｨｪ01ｨｪ06ｨｦ 0705 ｨ ｨｰ ｨｰ ﾂｨｰｨｨ 3.5 ｨｰ (ｨｰ ｨｰ02ｨｪ02ｨｨｨ 05ｨｹｨｪ ｨｪｨｨ07 06ｨｰ ｨｨ0401ｨ ｨｰ C, ｨｮ06ｨｴ ｨｹ040609ｨ ｨｰ ｨｰ ｨｪｨｺｨｨ ｨ ｨｺｨｰｨｨ09ｨ 09 01ｨ ｨｪｨｪ06ｨｬ ｨｬ0209ｨｰ02) ｨｨ ｨｨ0401ｨ ｨｰ0205ｨｹ B 09ｨｬ0600 ｨ ｨｦ09ｨｰ09ｨｨｨｰ0205ｨｹｨｪ06 04ｨ 0709ｨｨｨｰｨｹ, ﾂｨｰ06 06ｨｪ ｨｪ02 ｨｪｨ ｨｬ020802ｨｪ 0705ｨ ｨｰｨｨｨｰｨｹ ｨ 0605ｨｹ03 02, 09ｨｺｨ 0302ｨｬ, 4 ｨｰ ｨｪ , 0905ｨ ｨｰｨ ｨｪｨｺｨ, ｨ 05ｨｮｨｦ, ｨ 0405 ｨ ｨｰｨ ｨｪ 09 ｨｰｨｮ07ｨｨｨｺ. 06ｨｰ06 ｨｪ020603ｨｨ01ｨ ｨｪｨｪ ｨｦ09ｨｰ09ｨｨ02 ｨ ｨ ｨｨ - 04ｨｪｨ ｨｺ06ｨｬ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ07 (ｨｺ06ｨｰ ｨｪｨｨ06 06ｨｰｨｪ0609ｨｨｨｰ0907 ｨｺ ｨｪ ｨｨ0102ｨｪｨｪ06ｨｬｨｮ ｨｪ ｨｪ02ｨｪｨｨ06 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ ), ｨｨ 0905ｨ ｨｰｨ ｨｪｨｺｨ ｨｮ09ｨｰｨ ｨｪ0609ｨｨ05 09ｨｰｨ ｨｪ06ｨｺ 0708ｨｨ ｨｺ06ｨｪｨｺｨｮ0802ｨｪｨｰｨｪ06ｨｦ 02 02ｨｪ02 ｨ 0802ｨｪ ｨｰ , 0603ｨｨ01ｨ 07 (090604ｨｬ0603ｨｪ06, ｨｪｨ ｨｨ09ｨｪ06) 0106ｨ ｨｰｨｪ0609ｨｰｨｨ 06ｨｰ ｨｨ0401ｨ ｨｰ ｨ ｨｰ0205ｨｹ, ｨｪｨ 0708ｨｨｨｬ0208, ｨｬ060302ｨｰ 03ｨ ｨ ｨｰｨｹ 0907 ｨｪｨ ｨｰ06, ﾂｨｰ ｨ ｨｨ04ｨｪ ｨｨ0401ｨ ｨｪｨｨ06 00ｨ 0402ｨｰ 0708ｨｨ ｨｮ07ｨ 0106ｨｺ ｨｨ ﾂｨｰ06 06ｨｪ ｨｪ02 09ｨｬ060302ｨｰ ｨ ｨｰｨｹ 06ｨｰｨｪ060302ｨｪｨｨ07, 0706ｨｺｨ ｨｮ ｨｨ07 ｨ 0802ｨｪ0104 ｨｪ02 ｨ ｨｮ01ｨｮｨｰ ｨｬ06ｨｰ0802ｨｪ04.

7 ｨｪ0103ｨ ｨｬｨｨｨｪ ｨｦｨｪ, 0406ｨ 0208ｨｰ ｨｮ , 0808ｨｬ02ｨｪ ﾂ07ｨｪ 06ｨ ｨｺ ｨｺｨ ｨｺ 0905ｨ ｨｰｨ ｨｪｨｺｨ ｨｬ060302ｨｰ ｨｨｨｬ02ｨｰｨｹ 09ｨｨ05ｨｹｨｪｨｮ ｨｨ02ｨｨ06 ｨｪｨ ｨ ｨｨ 09 ｨ 0605ｨｹ03ｨｨｨｬｨｨ ｨｮｨ 04ｨｰｨｺｨ ｨｬｨｨ, ｨｺ06ｨｰ ｨｪ ｨｬ060302ｨｰ ｨｺ ｨｨｨｰｨｹ ｨｪｨ ｨｨ0401ｨ ｨｰ020507, ｨ 05ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ09ｨｪ04ｨｬ ｨｨ ｨ ｨ 05ｨｨ09ｨｰｨｨ ﾂｨｪ04ｨｬ ｨｬ ｨ ｨｮ0102ｨｰ ｨｰｨｺｨ ｨｮ ﾂｨｨｨｰｨｹ ｨ 0802ｨｪ01ｨｪｨｮ ｨ ｨｰｨｮ ｨｰ ｨｹ06 04ｨ 0109ｨ ｨｰｨｨｨｰｨｹ 04ｨ ｨｬ02 ﾂ02ｨｪｨｪ04ｨｦ ｨｨｨｬ 0708ｨｨ080609ｨｰ 0708ｨｨｨ 0405ｨｨ ｨｨ0401ｨ ｨｰ ｨｪ ｨｬ0600 ｨ 04 05ｨｰ ｨ ｨｰｨｹ, 04ｨ 0709ｨｨ ｨｬｨｺｨ 01 ｨｨ ｨｪ0206ｨ 04ｨｺｨｪ060902ｨｪｨｪ ｨｺｨｨ01 05ｨｺ090705ｨｮｨ ｨｰｨ 02ｨｨ06ｨｪｨｪ ｨ ｨｰ08ｨ ｨｰｨ ｨ ｨｺ06ｨｦ ｨｰｨｨ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ07 ｨｰ08ｨｮ01ｨｪ ｨｺｨ 04ｨ ｨｰｨｹ ｨｨ ｨｰ09ｨｨ02 05ｨｰ ｨｰ08ｨｮ01ｨｪ ｨｰｨｨ 09ｨｮ0102ｨ ｨｪ ｨ 04ｨ ｨｨ08ｨ ｨｰ0205ｨｹ09ｨｰ ｨ ｨｺ ｨｬ ｨｦ ﾂｨ 09 ｨｮ09ｨｨ01ｨｨｨｬ, 04ｨ ｨｰ08ｨ ｨｰ04 ｨｪｨ 09ｨｺ0506 ﾂ02ｨｪｨｨ02 09 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨ 03ｨｪ ｨｰｨ ｨｴｨｨ ｨｬ02ｨｪｨｰ0609 ｨｺｨ ﾂ0209ｨｰ09ｨ 09 04ｨｪｨ ﾂｨｨｨｰ0205ｨｹ - ｨｪ06ｨｦ 09ｨｰ020702ｨｪｨｨ 08ｨ 0405ｨｨ ﾂｨ 06ｨｰ ｨ 09ｨｨ09ｨｨｨｬ0609ｨｰｨｨ 06ｨｰ ｨｰｨｨ07ｨ ｨ ｨｺｨｰｨｨ ｨｪ02ｨｺ06ｨｰ ｨｨ ｨ ｨｺｨｰｨｨ ｨｮｨｴ0209ｨｰ09ｨｮ ｨｪ ｨｬ0603ｨｪ06 ｨｮｨｺｨ 04ｨ ｨｰｨｹ ｨｰｨ ｨｴｨｨ ｨｬ02ｨｪｨｰ04 ｨｺｨ ﾂ0209ｨｰ09ｨ, ｨｨ ｨｰ06ｨｬｨｮ ｨｪｨｨｨｺｨｪ060902ｨｪｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ ｨ ｨｰｨｪ ｨ ｨｰ ｨｨ ｨ ｨｺｨｰｨｨ090609, ｨｺ06ｨｰ ｨｨ ｨｹ04ｨｮ06ｨｰ ｨｨｨｰｨｮｨ 02ｨｨ0701, ｨｺ060001ｨ ｨｬ ｨｪ06 ｨｪ020109ｨｮ09ｨｬ ｨｪｨｪ06 ｨｮｨｺｨ 04ｨ ｨｰｨｹ 09 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｰ0902ｨｰ09ｨｰ09ｨｮ06ｨｴ ｨｨ02 07ｨ 08ｨ ｨｬ02ｨｰ0804 ｨｺｨ ﾂ0209ｨｰ09ｨ, ｨｮ ｨ ｨｰ ｨｨ ｨｰ09ｨ ｨｬ07 09ｨｮ0102ｨ ｨｪ ｨ 04ｨ ｨｨ08ｨ ｨｰ0205ｨｹ09ｨｰ09ｨ ｨｬ060302ｨｰ ｨ 04ｨｰｨｹ ｨｺｨｰｨｨ09ｨｪ04ｨｬ ｨｬ0201ｨ ｨｪｨｨ04 - ｨｬ06ｨｬ ｨｪ06ｨｬ ｨｰ09ｨｨ02 05ｨｰ ｨｰ07 ｨｨ ｨｬ0603ｨｪ 06 04ｨ 09ｨｰｨ 09ｨｨｨｰｨｹ ｨｪｨｨｨｰｨｹ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ, 06ｨｪ ｨｪ02 ｨ ｨｮ0102ｨｰ 04ｨ ｨｴｨｨｨｰ06ｨｦ 06 ｨｰ ｨｰｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ07. 01ｨ 0708ｨｨｨｬ 0208, ｨｮ ｨ ｨ ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ 0905ｨ ｨｹ0202ｨｬ 09ｨｰｨ ｨｪｨｺｨ ｨｰ 0906ｨｬ ｨｬ06ｨｪｨｰｨ 03ｨ 0708ｨ ｨ ｨｪｨ, 0106ｨｰ07 ｨｨ ｨｪ0204ｨ ｨｺ06ｨｪｨｪｨ ｨｨ ｨｬ060302ｨｰ ｨ 04ｨｰ ｨｹ 04ｨ ｨｴ02ｨｪｨ 09ｨｮ0102ｨ ｨｪ04ｨｬ ｨｨ09ｨ ｨｪｨｨ02ｨｬ. 0308ｨ ｨ ｨｪｨ 0706ｨｰ06ｨｬｨｮ, ﾂ ｨｰ06 ｨｰｨ ｨｺ ｨｦ09ｨｰ09ｨｨ02 01ｨ ﾂ02ｨｪｨｹ ｨｺ060806ｨｰｨｺｨｨｨｦ ｨｺ ｨｬ060302ｨｰ 0706ｨｰ0802ｨ 0609ｨ ｨｰｨｹ 06ｨｰ ｨｨ0401ｨ ｨｰ ｨ 0402ｨｰ 04ｨｪｨ ﾂｨｨｨｰ0205ｨｹｨｪ ｨ ｨｰ08ｨ ｨｰ ｨ ｨｰ0205ｨｨ 00ｨ 0402ｨｰ, ｨｺｨ ｨｺ 0708ｨ 09ｨｨ0506, ｨｰ ｨ ｨｹ02ｨ ｨｬｨｨ ｨｨ01 09ｨｰｨ ｨｪｨｺ0609, ｨｰ060001ｨ ｨｺｨ ｨｺ ｨｺｨｪｨｨ03ｨｪ04ｨｬ ｨｨ0401ｨ ｨｰ020507ｨｬ 09ｨｰｨ ｨｪｨｺｨｨ 06ｨ 04 ﾂｨｪ06 ｨｪ ｨｨｨｪｨ ｨ ｨｰ. 0201ｨｪ06ｨｦ ｨｨ ｨｬ0603ｨｪ ｨｨ ﾂｨｨｨｪ ｨｰ060006, ﾂｨｰ ｨｨ ｨｨ0401ｨ ｨｰ020502ｨｦ ｨｺｨｪｨｨ00 ｨｨ ｨｪｨｰ020008ｨ 02ｨｨ07 ｨｬ02ｨｪ ｨ ｨｰ08ｨ ｨｪ02ｨｪｨ, ｨｬ060302ｨｰ ｨｰｨｹ0907 ｨｰ06, ﾂｨｰ06 ｨｨ0401ｨ ｨｪ ｨｨ02 ｨｺｨｪｨｨ00ｨｨ 0705ｨ ｨｪｨｨ08ｨｮ02ｨｰ0907 ｨｪｨ ｨ ｨｨｨｦ ｨｺ ｨｨ ｨｬ060302ｨｰ 0609ｨｮｨｴ0209ｨｰ090507ｨｰｨｹ0907, 0609ｨｰｨ 09ｨ 0709ｨｹ 05ｨｺ06ｨｪ06ｨｬｨｨ ﾂ0209ｨｺｨｨ ｨｪ04ｨｬ, 09 ｨｬ02ｨｪｨｹ0302ｨｦ ｨｪ0609ｨｰｨｹ ｨｰ ｨｬ0600ｨｮｨｰ ｨｨ ｨｹ040609ｨ ｨｰｨｹ ﾂｨ ｨｰｨｪ ｨｰｨ ｨｪｨｺｨｨ, ｨｪｨ ｨｴｨｨ ｨ 06 ｨｬ 08ｨ ｨｦ06ｨｪ ｨｨ 0601ｨｨｨｪ 09ｨｰｨ ｨｪ06ｨｺ ｨｪ ｨｰ ｨｨｨ 05ｨｹｨｪ ｨｪｨ 04ｨｪｨ ﾂ02 ｨｪｨｪ04ｨｬ ｨｺ06ｨｪｨｺ0802ｨｰｨｪ ｨｨ0401ｨ ｨｰ020507, 09 ﾂｨ 09ｨｰｨｪ0609ｨｰｨｨ ｨｨ 09 ｨｰ02ｨｬ, ﾂｨｰ ｨｺｨｪｨｨ00 09ｨｺ ｨｰｨｹ 07ｨｮｨ 05ｨｨｨｺｨ 02ｨｨｨｨ ｨｨ 08ｨ ｨｰ08ｨ ｨｪ02ｨｪｨｨ07 ｨｬ02ｨｪ ｨ 03ｨｪｨ, ﾂ02ｨｬ ｨ 0402ｨｰ, ｨ ｨｰ09ｨｨ02 05ｨｰ ｨｨ0909ｨ 0209ｨ 02ｨｬ0402 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ04 ｨｪ ｨｪｨｨｨｺｨ 06 ｨｰ. 04ｨｮ08ｨｪｨ 0504 ｨｨ 0108ｨｮ00ｨｨ ｨｨ0601ｨｨ ﾂ0209ｨｺｨｨ02 ｨｨ0401ｨ ｨｪｨｨ07 ｨｬ0600ｨｮｨｰ 08ｨ 0909ｨｬｨ ｨｰ08ｨｨ09ｨ ｨｰｨｹ 0907 ｨｺｨ ｨｺ

8 1306ｨｪｨｰ020008ｨ 02ｨｨ07, 0802ｨｪｨｰｨ ｨｨ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｮ05ｨｹｨｰｨ ｨｰ06ｨｬ 05ｨｰ06ｨｦ ｨ ｨｮｨｰ06ｨｪ ﾂ02ｨｪｨｪ06ｨｦ ｨｬ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ07, ｨｰｨｪ06, ｨ ｨｮ0102ｨｰ 0706ｨｰ ｨｺｨｰｨｨ09ｨｪ0609 ｨｰｨｨ, ｨ ｨｪ ｨ ｨｪｨｨ02 ｨ 0600ｨ ｨｰ09ｨｰ09ｨ ｨ ｨｰ0205ｨｹ, ｨｪｨ 0708ｨｨｨｬ0208, 0708ｨｨ ｨｪｨ 05ｨｨ ﾂｨｨｨｨ ｨｰｨ ｨｺ06ｨｦ ｨｬ0603ｨｪ0609ｨｰｨｨ ｨｬ060302ｨｰ ｨｨｨｰｨｹ 0708ｨｨ06ｨ ｨｰｨｨ ｨｨ05ｨｨ ｨｪｨ ｨｦｨｰｨｨ ｨｪ0402 ｨｬ06ｨｴｨｪ0609ｨｰｨｨ, ｨｪ02 04ｨ 0905ｨｮ03ｨｨ09ｨ 06ｨｴｨｨ02 09ｨｪｨｨｨｬｨ ｨｪｨｨ07 09 ｨｨｨｪ06ｨｬ 0905ｨｮ ﾂｨ ｨ ｨｨ ｨｮ ﾂｨ 09ｨｰｨｪｨｨｨｺｨｨ ｨｺｨｨ ｨｪ02ｨｦｨｰ08ｨ 05ｨｹｨｪ04 ｨｺ 08ｨｨ09ｨｺｨｮ, ｨｬ0603ｨｪ0609ｨｰｨｹ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ ﾂ02ｨｰ 04ｨ 0906ｨ 06ｨｦ 04ｨ ｨｰ08ｨ ｨｰ04, ｨｰｨ ｨｺ ｨｺｨ ｨｺ 0802ｨ 05ｨｹｨｪ ｨｮ ｨ ｨｮ01ｨｮｨｰ ｨｪｨ 0708ｨ ｨｪ04 ｨｪｨ ｨｮ05ｨｮ ﾂ- 0302ｨｪｨｨ ｨｰｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪ ｨｨ02ｨｨｨｦ ｨｪｨ ｨ ﾂｨ 09ｨｰｨｪ0609ｨｰｨｨ, ｨ ｨｮ0102ｨｰ ｨ ｨｪ06 ｨｬ02ｨｪｨｹ ｨｨ00ｨｨ ﾂ0209ｨｺｨｨ01 ｨｨｨｪ090209ｨｰｨｨ02ｨｨｨｦ ｨｨ04-04ｨ 0607ｨ 09ｨｪ0609ｨｰｨｨ 06ｨｺｨ 04ｨ ｨｰｨｹ ｨｨ03ｨ ｨｰ04ｨｬｨｨ ｨｺ 09ｨｰ02ｨｪｨｺ ｨｰ06ｨｬｨｮ ｨ 07 ｨｪ ｨｪｨｪ0609ｨｰｨｹ 09 06ｨｰｨｪ060302ｨｪｨｨｨｨ ｨｺｨ ﾂ0209ｨｰ09ｨ ｨｨ ｨｺ0605ｨｨ ﾂ0209ｨｰ 09ｨ 0708ｨｨ090601ｨｨｨｰ ｨｺ ｨ 0605ｨｹ0302ｨｬｨｮ 0607ｨｰｨｨｨｬｨ 05ｨｹｨｪ06ｨｬｨｮ 04ｨ 07ｨ 09ｨｮ, ｨ ｨｰｨ ｨｺ ｨｰｨｮ 0108 ｨｮ- 00ｨｨ ｨ 05ｨｹｨｪ ｨｨ ｨｰ0902ｨｪｨｪ ｨ ｨｰ08ｨ ｨｰ. 06ｨ ｨｺ ｨｪｨｨｨｬｨ ｨｪｨｨ02 ｨｺ 0708ｨｨ0909ｨ ｨｨ09ｨ 02ｨｬ06ｨｦ ｨｨｨ 05ｨｨ04ｨｨ080609ｨ ｨｪｨｪ06ｨｦ ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ02 ｨｪ ｨｰ0907 ﾂ02ｨｬ-ｨｰ06 ｨｪ060904ｨｬ. 01ｨ ｨｮ 09 06ｨｰｨｺ080409ｨ 06ｨｴ02ｨｦ 07ｨｮｨｰｨｹ ｨｺ 0706ｨｪｨｨｨｬｨ ｨｪｨｨ ｨ 0502ｨｬ04 08ｨ ｨ 06ｨｰ06ｨｦ 07ｨｨ05ｨｹ07ｨｬ0906ｨｪｨ 8 ｨｰ02ｨｬ06ｨｦ ｨｪｨ ｨ 09ｨｮ030102ｨｪｨｨ07, ｨｪ06 09 ｨｪ0209ｨｺ0605ｨｹｨｺ ｨｮ0006ｨｬ ｨｺ06ｨｪｨｰ02ｨｺ09ｨｰ02, 04ｨ ｨｪｨｨｨｬｨ 06ｨｴｨｨ ｨｬ0203ｨｮｨｰ06 ﾂｨｪ ｨｪｨｨ02 ｨｬ020301ｨｮ ｨｺｨｪｨｨ00ｨ ｨｬｨｨ ｨｨ 00ｨ 0402 ｨｰｨ ｨｬｨｨ 09 06ｨｰｨｪ060302ｨｪｨｨｨｨ 09ｨ 03ｨｪ0609ｨｰｨｨ ｨｬ02ｨｪｨｨ 08ｨ ｨｰ08ｨ ｨｪ02ｨｪｨｨ ｨｰ06ｨｬｨｮ ｨｨ 09 ｨｰ02ｨｬ, ﾂｨｰ06 03ｨｮ08ｨｪｨ ｨ ｨｰ08ｨ ｨｪ0706ｨｰ ｨｰ08ｨ ｨｪ02 ｨｨ04 ｨｪ02ｨ 0605ｨｹ ﾂｨｨ0905ｨ ｨｰｨｨ ｨ 00ｨｨｨｦ, 0702 ﾂｨ ｨｰｨｪ ｨｰｨ ｨｪｨｺｨｨ, 08ｨ ｨｪｨｪ ｨｬｨｪ0600ｨｨ ｨｮ00ｨｨ01 ｨｬ0209ｨｰｨ 01, ｨｰ ｨｬ0603ｨｪ04ｨｬｨｨ ｨｺ06ｨｪｨｺｨｮ0802ｨｪｨｰｨ ｨｬｨｨ 09ｨｰｨ ｨｪｨｺｨ, ｨｮ09ｨｰｨ ｨｪ ｨｪｨｪ ｨｪｨｪ06ｨｬ ｨｬ0209ｨｰ ｨ ｨｰ0205ｨｹｨｪ06, 0804ｨｪ06 ﾂｨｪｨ ｨ 09ｨｰｨｹ 0905ｨ ｨｹ02ｨ 09ｨｰｨ ｨｪｨｺｨ ｨｪｨ 01 ｨｨ0401ｨ ｨｰ020502ｨｬ 03ｨｮ08ｨｪｨ 05ｨ 04ｨｪｨ ﾂｨｨｨｰ0205ｨｹｨｪ06 ｨｬ02ｨｪｨｹ0302, ﾂ02ｨｬ ｨｪｨ 01 ｨｨ0401ｨ ｨｰ020502ｨｬ 00ｨ 0402ｨｰ, ｨｨ ｨｬ04 09ｨｨ01ｨｨｨｬ, ﾂｨｰ06 03ｨｮ08ｨｪｨ ｨ 04 ﾂｨｪ ﾂｨ ｨｰｨ 06ｨｰ ｨｰｨｨ ｨ 00ｨｨ0701, ｨｪ ｨｨｨｪｨ ｨ ｨｴｨｨ01 ｨｨ0401ｨ ｨｰ (05ｨｬ.: Gustafson W. E. Periodicals and Books. Made in New York. Max Hall ed , 190) ｨｪ0209ｨｬ06ｨｰ0807 ｨｪｨ ｨｰ06, ﾂｨｰ ﾂｨ ｨｰｨｪ04ｨｦ 09ｨｰｨ ｨｪ06ｨｺ ｨｬ060302ｨｰ ｨ 04ｨｰｨｹ 06ｨｰｨｪ0609ｨｨｨｰ02 05ｨｹｨｪ06 ｨｬ02ｨｪ ｨｨ00ｨｨ ﾂ0209ｨｺｨｨｨｬ ｨ ｨｺｨｰｨｨ0906ｨｬ ｨ 09ｨｪ02ｨｪｨｨ ｨ 0402ｨｰｨｪ04ｨｬ 0702 ﾂｨ ｨｰｨｪ04ｨｬ 09ｨｰｨ ｨｪｨｺ06ｨｬ, 0708ｨｨ0909ｨ ｨｨ09ｨ 02ｨｬ0402 ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ04 ｨｬ0600ｨｮｨｰ 06ｨｺｨ 04ｨ ｨｰｨｹ0907 ｨｪ02 ｨｰｨ ｨｺｨｨｨｬｨｨ ｨｮ03 ｨｪ0204ｨｪｨ ﾂｨｨｨｰ0205ｨｹｨｪ04ｨｬｨｨ (ｨｺｨ ｨｺｨｨｨｬｨｨ, ｨｬ0603ｨｪ06, 06ｨｪｨｨ ｨｰ ｨｨ 0702 ﾂｨ ｨｰ ｨ ｨｪｨｨｨｨ ｨｺｨｪｨｨ00) ｨｰ06ｨｬｨｮ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｪｨ 0702 ﾂｨ ｨｰｨ ｨｪｨｹ02 03ｨｮ08ｨｪｨ 05ｨ ｨｨ ｨ ｨｮ0102ｨｰ ｨｺ08ｨ ｨｰｨｺ ﾂｨｪ04ｨｬ ｨ 0302ｨｪｨｨ02ｨｬ, 04ｨ ｨｺ0506 ﾂ02ｨｪｨｪ04ｨｬ ｨｪ06ｨｦ ｨｰ08ｨ ｨｪ09ｨ ｨｺ02ｨｨｨｨ, 06ｨｪ, 09ｨｺ , ｨ ｨｮ0102ｨｰ ﾂｨｪ04ｨｬ ﾂｨ 05ｨｹｨｪ06 ｨｨ ｨｰｨｪ06, ｨｪｨ 09ｨｺ0605ｨｹｨｺ06 ｨｮｨｬ0209ｨｰｨｪ04 ﾂｨ 09ｨｰｨｪ0402 ｨｨｨｪ090209ｨｰｨｨ02ｨｨｨｨ 09 ｨｪ0208ｨ 0409ｨｨｨｰ0401, ｨｨｨｰｨｨ ﾂ0209ｨｺｨｨ ｨｪ0209ｨｰｨ ｨ ｨｨ05ｨｹｨｪ0401, ｨｰ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺｨｨ0103, 09ｨｰ08ｨ ｨｪｨ ｨｪｨ ﾂ02ｨｪｨｨ ｨｺ06ｨｪ06ｨｬｨｨ ﾂ0209ｨｺ ｨｰｨ ｨｺｨ 04ｨｮ02ｨｬ ｨｪｨｨ ｨ 09ｨｨｨｰ0205ｨｹ09ｨｰ09ｨ 09 06ｨｰｨｪ060302ｨｪｨｨｨｨ ｨｪｨｨ07 ｨｨ 0802ｨ 05ｨｨ04ｨ 02ｨｨｨｨ 07 08ｨ ｨ 09ｨｰ0902ｨｪｨｪ0609ｨｰｨｨ 06ｨｰｨｬ02 ﾂｨ ｨｹ ｨｪ020601ｨｪ06ｨｺ08ｨ ｨｰｨｪ06. 8 Williamson O. E. The Vertical Integration of Production: Market Failure Considerations. Am. Econ. Rev Vol. 61. P. 112 (Papers

9 ｨｪ0103ｨ ｨｬｨｨｨｪ ｨｦｨｪ, 0406ｨ 0208ｨｰ ｨｮ , 0808ｨｬ02ｨｪ ﾂ07ｨｪ ｨ ｨｮ0102ｨｰ ｨｪｨｪ04ｨｦ ｨｹ01ｨ ｨｬ 9 ｨ ｨｪｨ 05ｨｨ ｨ 0502ｨｬ ｨｬ0600ｨ ｨｰ0205ｨｹ09ｨｰ09ｨ 03 (hold up), ｨｨｨｬ02ｨｪｨｮ02ｨｬ06ｨｦ ｨｨｨｬ ｨｰｨ ｨｺ 09 ｨｺ06ｨｪｨｰ02ｨｺ09ｨｰ ｨｮ01ｨ 0809ｨｰ0902ｨｪｨｪ ｨｮ05ｨｨ080609ｨ ｨｪｨｨ ｨｹ01ｨ ｨｮｨｺｨ ｨ 02ｨｰ ｨｪｨ ｨｰ06, ﾂｨｰ ｨｪｨｪ ｨｮ01ｨ 0809ｨｰ0902ｨｪｨｪ ｨｮ05ｨｨ080609ｨ ｨｪｨｨ02 ｨｬ060302ｨｰ 08ｨ 0909ｨｬ ｨ - ｨｰ08ｨｨ09ｨ ｨｰｨｹ0907 ｨｺｨ ｨｺ ｨｰ0906 ｨｮ09ｨｰ08ｨ ｨｪ02ｨｪｨｨ07 ｨｨ05ｨｨ 09ｨｪｨｨ0302ｨｪｨｨ07 ｨｮ ｨｰ0208ｨｨ ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ ｨｹ01ｨ ｨｪｨ ｨ 02ｨｰ 05ｨｰ ｨ 0502ｨｬ06ｨｦ ｨｰｨ ｨｪｨｨ07 04ｨ ｨｴｨｨｨｰ ｨ 09ｨ ｨ 04ｨｰｨｹ 06ｨ 0905ｨｮ0302ｨｪｨｪ04ｨｬ03. 02ｨｪ ｨｰｨ ｨｺ ｨｨ04ｨｪｨ 02ｨｰ, ﾂｨｰ06 05ｨｰｨ 09ｨｨ05ｨ ｨ 02ｨｰ ｨｬｨｪ ｨｰ ｨｮ00ｨｨ01 ｨｺ06ｨｪｨｰ08ｨ ｨｺ ｨｰ- ｨｪ0401 ｨｨ ｨｨｨｪ09ｨｰｨｨｨｰｨｮ02ｨｨ06ｨｪｨ 05ｨｹｨｪ0401 ｨｬ0208, ｨｰｨ ｨｺｨｨ01 ｨｺｨ ｨｺ ｨ ｨｪｨｨ02 04ｨ 07ｨ , 09ｨｰ08ｨ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ04 ｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪｨ 07 ｨｨｨｪｨｰ020008ｨ 02ｨｨ07. 08ｨｪｨ 05ｨｨ04 ｨｰｨ ｨｺ ｨ 00ｨ 02ｨｰ 06ｨ ｨｲ0709ｨｪ02ｨｪｨｨ02 ｨｪｨ 05ｨｨ ﾂｨｨ ｨ 0401 ｨｨｨｪ09ｨｰｨｨｨｰｨｮｨｰ0609 ｨｨ ｨｬ ｨｮ01ｨ 0809ｨｰ0902ｨｪｨｪ ｨｬ0203ｨ ｨｰ0205ｨｹ09ｨｰ09ｨ ｨｨ05ｨｨ ｨｪｨｨｨｦ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ 09 ｨｺｨ ﾂ0209ｨｰ0902 ｨ 05ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ 09 08ｨ 04ｨｪ ｨｨｨｰｨｮｨ 02ｨｨ0701. II. 0806ｨｪｨｰ08ｨ ｨｺｨｰｨｪ ｨｪｨｨ ｨｪ0609ｨｪ06ｨｦ ｨ 05ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ0906ｨｦ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ ｨｺｨ ｨｺ ｨ ｨ ｨｪｨｨ07 06ｨ ｨｴ02ｨｦ ｨ 0502ｨｬ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ ｨｰ ｨｪｨｪｨ ｨｬｨ 05ｨｺ06ｨｪ06ｨｬｨｨ ﾂｨｪ ｨｨ090601ｨｨｨｬ ｨｦ09ｨｰ09ｨｨ ﾂｨｪ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ. 0809ｨｪ06, ﾂｨｰ06 ｨｺ08ｨ ｨｰｨｺ ﾂｨｪ04ｨｦ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ (ｨｪｨ 0708ｨｨｨｬ0208, ｨｪｨ 0601ｨｪｨｮ ｨｺｨｮ ｨｨ05ｨｨ 08ｨ ｨｮ ｨ 03ｨｮ) ｨｪ02 ｨｬ060302ｨｰ 08ｨ ｨｨｨｰｨｹ 05ｨｰｨｮ ｨ 0502ｨｬｨｮ ｨ ｨｪｨｨｨｺｨ 02ｨｰ 04ｨ ｨｺ06ｨｪｨｪ04ｨｦ , 09 ｨｺｨ ｨｺｨｨ ｨｮ ﾂｨ ｨｺｨ ﾂ0209ｨｰ ｨ ｨ ｨｪｨｨ07 ｨ ｨｮ0102ｨｰ ｨｰｨｮ07ｨ ｨｰｨｹ ｨｰｨｨｨｺｨ 05ｨｹｨｪｨ 07 ｨｨｨｪｨｰ020008ｨ 02ｨｨ07, ｨ 09 ｨｺｨ ｨｺｨｨ ｨｮ ﾂｨ 0701 ｨ ｨｮ0102ｨｰ ｨｨ ｨｨｨｰｨｹ ｨｪ06 ﾂｨｪ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｺ06ｨｰ ｨｺ06ｨｪ06ｨｬｨｨ09ｨｰ04 ｨｨ 0608ｨｨ09ｨｰ ｨｰｨ 09ｨｨ05ｨｨ ｨ ｨｪｨｨ07 05ｨｰ06ｨｰ ｨｺ08ｨ ｨｦｨｪ ｨｪ04ｨｦ , ｨｪｨ 0409ｨ ﾂｨｪ04ｨｦ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ 0601ｨｪ06ｨｦ ｨｨ ｨｬ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ ｨｬ06ｨｰ0807 ｨｪｨ ｨｰ06 ﾂｨｰ ｨｹ, 06 ﾂ0209ｨｨ01ｨｪ06, ｨｨｨｬ0202ｨｰ0907 ｨｪ ｨｪ0602 ｨｬｨｪ ｨ 08ｨ 04ｨｨ ｨｬ, ｨｬ04 ｨｪ02 ｨ ｨｮ0102ｨｬ 04ｨ ｨｰ02ｨｬｨｪ07ｨｰｨｹ 08ｨ 0405ｨｨ ﾂｨｨ07 ｨｬ020301ｨｮ ﾂｨｪ04ｨｬ ｨ 0802ｨｪ01ｨｪ04ｨｬ ｨ 0302ｨｪｨｨ02ｨｬ ｨｨ 0906ｨ 09ｨｰ0902ｨｪｨｪ0609ｨｰｨｹ ｨｮ09ｨｰｨｨｨｬ, ﾂｨｰ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ02, ｨｴ & Proceedings ); Williamson O. E. Market and Hierarchies: Analysis and Antitrust Implications Goldberg, Victor P. Regulation and Administered Contracts. 7 Bell J. Econ & Management Sci Vol. 7. P. 426, 439ｨC ｨｬ., ｨｪｨ 0708ｨｨｨｬ0208: Kessler Friedrich, Stern Richard H. Competition, Contract, and Vertical Integration, Yale L.J Vol. 69. P. 1.

10 1306ｨｪｨｰ020008ｨ 02ｨｨ07, 0802ｨｪｨｰｨ ｨｨ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨ ｨｲ02ｨｺｨｰ06ｨｬ ｨｪｨ ｨｪｨｨｨｬｨ ｨｪｨｨ07, ｨ ｨｮ0102ｨｰ ｨｪｨｨｨｺｨ ｨｰｨｹ ｨｰ0605ｨｹｨｺ ｨｬ ｨｨ ｨｮ0706ｨｬ07ｨｪｨｮｨｰ ｨｮ ﾂｨ ｨ 0708ｨｨｨｬ0208, ｨｨ ｨｰｨｮｨｪｨｨ04ｨｬ ｨｰ 0905ｨ ｨ 0802ｨｪ010601ｨ ｨｰ0205ｨｹ ｨｰｨｪ060302ｨｪｨｨ06 ｨｺ ｨｹ040609ｨ ｨｰ ｨ 0802ｨｪ01ｨ ｨｰ0608ｨｮ, ｨｪ ｨｮｨｴ0209ｨｰ ｨｪ04ｨｬ 06ｨ 08ｨ 0406ｨｬ ｨｰ0201ｨｪｨｨ ﾂ0209ｨｺ ｨ 0905ｨｮ03ｨｨ09ｨ ｨｪｨｨ07 ｨｨ ｨｪ020603ｨｨ01ｨ ｨｪｨｪ ｨ ｨｺｨｰｨｨ09ｨｪｨｮ06 ｨ 0802ｨｪ01ｨｪｨｮ ｨ ｨｰｨｮ, ｨｨ ｨｹ040609ｨ ｨｪｨｨ02 04ｨ ｨｺ06ｨｪｨｪ ｨｰ09 (0106ｨｺｨ 04ｨ ｨｰ0205ｨｹ09ｨｰ0906 ｨｪｨ 08ｨｮ0302ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ ) ｨｬ ｨｰ ｨ 04ｨｰｨｹ 06 ﾂ02ｨｪｨｹ ｨｰ0607ｨｴｨｨｨｬ ｨｮ0006ｨｦ 09ｨｰ060806ｨｪ04, ｨｨ ｨｹ ｨ ｨｰ0205ｨｹ 0905ｨ ｨｰ ｨ ｨｺｨｰｨｨ0906ｨｬ, ｨｰ06 ｨｪｨ 02ｨｬｨｪ04ｨｦ 08ｨ ｨ 06ｨｰｨｪｨｨｨｺ, ｨｺ06ｨｰ060804ｨｦ ｨｪ02 06ｨ ｨｮ03ｨｨ09ｨ 02ｨｰ ｨｰ0902ｨｰ09ｨｰ09ｨｮ06ｨｴｨｨｨｬ 06ｨ 08ｨ 0406ｨｬ, ｨｬ060302ｨｰ ｨ 04ｨｰｨｹ ｨｰｨｮ ｨｮ ｨｪ ｨｨ ｨ ｨ 06ｨｰｨｪｨｨｨｺ 09ｨｬ060302ｨｰ ｨ ｨｰｨｹ 06ｨ ｨｬｨ ｨｪ0409ｨ ｨｰｨｹ 0905ｨ ｨｹ02ｨ ｪ ｨｹ040609ｨ ｨｰ ｨ ｨｺｨｰｨｨ09ｨ 0708ｨｨ 0706ｨｬ06ｨｴｨｨ ｨｨ ｨｨ00ｨｨ ﾂ0209ｨｺｨｨ ｨｨ06ｨｪｨ 05ｨｹｨｪ0401 ｨｪｨ 0904ｨｺ ｨ 0905ｨｮ03ｨｨ09ｨ ｨｪｨｨ06 ｨ ｨｺｨｰｨｨ09ｨ, ｨｰ ｨ 0502ｨｬｨ ｨｰ06ｨｨｨｰ 09 ｨｰ06ｨｬ, ﾂｨｰ ｨｰｨｨｨｺｨ 05ｨｹｨｪｨ 07 ｨｨｨｪｨｰ020008ｨ 02ｨｨ ｨｰ09 02ｨｰ09ｨｰ09ｨｮ06ｨｴ ｨ ｨｺｨｰｨｨ09ｨ, ﾂ ﾂ0209ｨｺ ｨｺｨ 07ｨｨｨｰｨ 05ｨ 01ｨ ｨｪｨｪ ｨ ｨ 06ｨｰｨｪ ｨｨｨｺｨ, 11 02ｨ 04 ﾂｨｪ06 09 ﾂｨｨｨｰｨ 02ｨｰ0907, ﾂｨｰ ｨｹ040609ｨ ｨｰ0205ｨｨ ｨｰ0201 ｨ ｨｺｨｰｨｨ090609, ｨｺ06ｨｰ ｨｬ0603ｨｪ ｨｨｨｰｨｹ 0708ｨｨ ｨｪ02ｨ ｨｺｨｺｨｮ08ｨ ｨｰｨｪ06ｨｬ ｨｨ ｨｹ040609ｨ ｨｪｨｨｨｨ ｨｨ ｨｪ ｨｨ02 ｨｺ06ｨｰ ｨｪ ｨｬ0603ｨｪ06 ｨｪ02ｨｬ ｨｪｨｪ06 06ｨ ｨｪｨ 08ｨｮ03ｨｨｨｰｨｹ, 09ｨｺ ｨ ｨｮ01ｨｮｨｰ 0905ｨ 0102ｨｰｨｹ 05ｨｰｨｨｨｬｨｨ ｨ ｨｺｨｰｨｨ09ｨ ｨｬｨｨ, ﾂ02ｨｬ ｨ 08ｨ ｨｰｨｹ ｨｨ01 09 ｨ 0802ｨｪ01ｨｮ. 0201ｨｪｨ ｨｺ06 05ｨｰｨｨ ｨ 08ｨ 0302ｨｪｨｨ ｨｮ ｨｰ0201ｨｪｨｨ ﾂ0209ｨｺ ｨ 0905ｨｮ03ｨｨ09ｨ ｨｪｨｨ07 ｨｮｨｬ0209ｨｰｨｪ ｨｨ ｨｺ08ｨ ｨｰｨｺ ﾂｨｪ ｨｺｨ 01 ｨｨ ｨｪ020708ｨｨｨｬ02ｨｪｨｨｨｬ04, ｨｨ ｨｺ 0102ｨｦ09ｨｰ09ｨｨ ﾂｨｪ ｨｺ06ｨｪｨｰ08 ｨ ｨｺｨｰｨ ｨ 01ｨ 02ｨｰ 09 ｨｪｨ ｨｨｨ ｨｺ06ｨｪ06ｨｬｨｨ ﾂｨｪ04ｨｬ ｨｺ06ｨｬ 0905ｨｮ03ｨ 04 01ｨ ｨｪｨｪ0401 ｨ ｨｺ ｨｰｨｨ ｨｨ ｨｪ ｨｨｨｪｨｨｨｬｨ ｨｰｨｹ 09 08ｨ 09 ﾂ02ｨｰ ｨｮ ｨｨ07 ｨｪｨ ｨ ｨｪｨｨ07, 02 01ｨｨｨｪ09ｨｰ0902ｨｪｨｪ04ｨｬ 06ｨｰ05ｨｨ ﾂｨｨ02ｨｬ ﾂｨｪ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ 06ｨｰ ｨｰｨｨｨｺｨ 05ｨｹ ｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ 0609ｨｰｨ 02ｨｰ ｨｬ0603ｨｪ0609ｨｰｨｹ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪ ｨ ｨｪｨｨ ｨ. 0201ｨｪｨ ｨｺ06 05ｨｰｨ ｨｬ0603ｨｪ0609ｨｰｨｹ ｨｪｨｨ ｨｰｨｮｨｪｨｨ04ｨｬ ｨ ｨｬ060302ｨｰ 09ｨｮｨｴ0209ｨｰ090609ｨ ｨｰｨｹ ｨｨ 09ｨｪｨｮｨｰ08ｨｨ 00ｨｨ08ｨｬ04; 09ｨｬ. 0708ｨｨｨｬ02 ﾂｨ ｨｪｨｨ ｨｪ02 ｨ ｨｮ0102ｨｬ 0708ｨｨｨｪｨｨｨｬｨ ｨｰｨｹ ｨｪｨｨｨｬｨ ｨｪｨｨ02 ｨｺｨ ｨｺｨｨ02 ｨ 04 ｨｰ06 ｨｪｨｨ ｨ ｨ 08ｨ 0302ｨｪｨｨ07 06ｨｰｨｪ0609ｨｨｨｰ0205ｨｹｨｪ06 04ｨ ｨｰ08ｨ ｨｰ 00ｨｨ08ｨｬ04 ｨｪｨ ｨｪｨｨ02 ｨｺｨ ﾂ0209ｨｰ09ｨ ｨｰ0201ｨｪｨｨ ﾂ0209ｨｺ ｨ 0905ｨｮ03ｨｨ09ｨ ｨｪｨｨ07. 05ｨｰ020702ｨｪｨｹ ｨｺ0609ｨｰｨｨ ｨｺ08ｨ ｨｴ02ｨｪｨｨ 07 06ｨｰｨｪ060302ｨｪｨｨｨｦ ｨｰ ｨｰｨｨ ｨ ｨｪｨ 05ｨｨｨｰｨｨ ﾂ0209ｨｺ ｨ 0405ｨｨ ﾂｨｨ02 ｨｬ020301ｨｮ 00 08ｨ ｨｪ ﾂｨ ｨｦ04ｨｨｨｪ ｨｬ ｨ 0302ｨｪｨｨ02ｨｬ ｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨ02ｨｦ, ｨｺ060001ｨ ｨｬ 02ｨｪ ｨｮ ﾂｨ 09ｨｰ09ｨｮ02ｨｰ ｨｨｨ 0405ｨｨ ｨｨ 06ｨ ｨｪｨ 08ｨｮ03ｨｨｨｰ ｨ ｨｬｨ ｨｪ, ｨｰ06 06ｨ 04 ﾂｨｪ ｨｮ090605ｨｨｨｰｨｹ ｨｪｨ 02ｨｬｨｪ ｨ ｨ 06ｨｰｨｪｨｨｨｺｨ, ｨｪ ｨｨ ｨｺ08ｨ ｨｰｨｨｨｰｨｹ 06ｨｰｨｪ ｨｪｨｨ ｨｮ ﾂｨ ｨｰ020502ｨｬ 0008ｨ ｨｪ03ｨｨ0404. (010201ｨ 09ｨｪ ｨ ｨｺ06ｨｪ ｨｪ06 ｨｨ04ｨｬ02ｨｪ02ｨｪｨｨ02, 04ｨ ｨｰ08ｨｮ01ｨｪ0706ｨｴ ｨｺ08ｨ ｨｴ02ｨｪｨｨ02 06ｨｰｨｪ060302ｨｪｨｨｨｦ 09 06ｨ 06ｨｨ ｨｮ ﾂｨ 0701.) 0106 ｨ ｨ ｨｪｨｨ ﾂ02ｨｪｨｪ ｨ 09ｨ ｨｪｨ 02ｨｬｨｪ ｨ ｨ 06ｨｰｨｪｨｨｨｺｨ ｨ 09ｨｪ02ｨｪｨｨ ｨｮ ﾂｨ ｨｰ020502ｨｬ 0008ｨ ｨｪ03ｨｨ ｨｪｨｨ03ｨ 06ｨｰ ｨｪ ｨｰｨｨｨｬｨｮ ｨ ｨｰｨｹ ｨｦ 09ｨｺ05ｨ ｨ ｨｮ01ｨｮｨｴｨｨｨｦ ｨ ｨｨ04ｨｪ0209, ｨｨ 00ｨｨ08ｨｬｨ 0904ｨｪｨｮ030102ｨｪｨ ｨｰｨ ｨｰｨｹ ｨｨ 09ｨｰ06 ｨｨｨｬ0609ｨｰｨｹ ｨ 05ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ09ｨｪ ｨ 0302ｨｪｨｨｨｦ ｨｪｨｨ02 ｨｬ02ｨｪ ｨ, ｨｮ ﾂｨ 09ｨｰ09ｨｮ 06ｨｴ ｨｨｨ 0405ｨｨ, 09 ｨｺ06ｨｰ060804ｨｬ 04ｨ ｨｺ0506 ﾂ02ｨｪ 0709ｨｪ04ｨｦ ﾂｨｪ04ｨｦ ｨｰ08ｨｮ ｨｦ , 09 06ｨ ｨｴ02ｨｬ ｨｨ0102ｨｪｨｰｨｨ ﾂｨｪ ｨｪｨｨ ｨｮ ﾂｨ ｨｰ ｨ ｨｪ03ｨｨ0404.

11 ｨｪ0103ｨ ｨｬｨｨｨｪ ｨｦｨｪ, 0406ｨ 0208ｨｰ ｨｮ , 0808ｨｬ02ｨｪ ﾂ07ｨｪ ｨｪ02 ｨｨｨｬ0205ｨ ｨｬ0209ｨｰｨ ｨ ｨｪｨｪ04ｨｦ ｨｬ06ｨｬ02ｨｪｨｰ, 0601ｨｪｨ ｨｺ06, ｨｬ ｨｰ06 ﾂｨｨｨｬ0907 ｨｨ09ｨｺ0506 ﾂｨｨｨｰ0205ｨｹｨｪ06 ｨｪｨ ﾂｨｪ06ｨｦ ｨ 0802ｨｪ0102 ｨｺｨ ｨｺ ｨ 05ｨｹｨｰ ｨｪｨ ｨｰｨｨ ｨ 0102ｨｪｨｨ ﾂｨｪ04ｨｬｨｨ ｨｬｨ ｨｰ0208ｨｨｨ 05ｨｹｨｪ04ｨｬｨｨ ｨ ｨｺｨｰｨｨ09ｨ ｨｬｨｨ ｨｪ ｨ ｨｰｨｹ ｨｪｨｨ02, ﾂｨｰ ﾂｨｪ0402 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ04, ｨｨ ｨｹ04ｨｮ02ｨｬ ｨｺｨ ﾂ0209ｨｰ0902 ｨ 05ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪ - ｨｰ020008ｨ 02ｨｨｨｨ, ｨ ｨｮ01ｨｮｨｰ ｨｨｨｬ02ｨｰｨｹ ｨｬ04: (1) 0709ｨｪ ｨ 0302ｨｪｨｪｨ 07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪｨ 07 00ｨ 08ｨ ｨｪｨｰｨｨ07, 0906ｨ ｨｪｨｨ02 ｨｺ06ｨｰ060806ｨｦ 06ｨ ﾂｨｨ09ｨ 02ｨｰ ｨｮ01ｨ 0809ｨｰ0906ｨｬ ｨｨ05ｨｨ 0108ｨｮ00ｨｨｨｬ 09ｨｪ0203ｨｪｨｨｨｬ ｨｮ ﾂ ｨｪｨｨ02ｨｬ; (2) ｨｪ020709ｨｪｨ 07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪｨ 07 00ｨ 08ｨ ｨｪｨｰｨｨ07, 0906ｨ ｨｪｨｨ02 ｨｺ06ｨｰ060806ｨｦ 06ｨ ﾂｨｨ09ｨ 02ｨｰ ｨｪ06 ﾂｨｪ04ｨｬ ｨｬ0201ｨ ｨｪｨｨ04ｨｬ06ｨｬ ｨｺ08ｨ ｨｴ02ｨｪｨｨ07 ｨ ｨｨ04ｨｪ0209ｨ ｨｮ ﾂｨ ｨｪｨｨｨｺｨｪ060902ｨｪｨｨ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ ｨｪ ﾂ ｨｪ0402 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｨｨｪ02ｨｨ0702 ｨｬ0600ｨｮｨｰ ｨ 09ｨｰ090609ｨ ｨｰｨｹ 08ｨ ｨｪｨｨ ｨ 0502ｨｬ ｨｰｨｮｨｪｨｨ04ｨｬｨ, ｨｪ06, ｨｺｨ ｨｺ ｨｮ ｨｰｨｬ02 ﾂｨ ｨｹ, 05ｨｰ ｨｪｨｨ02 ｨｬ060302ｨｰ ｨ 04ｨｰｨｹ 06 ﾂ02ｨｪｨｹ ｨｰ0607ｨｴｨｨｨｬ. 02ｨｪ ﾂ02ｨｰ 04ｨ 0906ｨ 06ｨｦ 04ｨ ｨｰ08ｨ ｨｰ04 ｨｪｨ ｨｪｨｨ ｨｬ0603ｨｪ0401 ｨｪ ｨｨ0102ｨｪｨｪ ｨ 09ｨｰ0607ｨｰ0205ｨｹ09ｨｰ09, 04ｨ ｨｰ08ｨ ｨｰ ｨｪｨ ｨｮ, ｨ ｨｰｨ ｨｺ ｨ ｨｰ08ｨ ｨｰ04 ｨｪｨ 06ｨ ｨｪｨ 08ｨｮ0302ｨｪｨｨ02 ｨｪｨ 08ｨｮ0302ｨｪｨｨｨｦ ｨｨ 06ｨ ﾂ02ｨｪｨｨ ｨ ｨｪｨｨ07 06ｨ 0704ｨ ｨｰ0205ｨｹ09ｨｰ ｨｮ ｨｨ ｨ, ｨｴｨｨ ｨｨｨｪｨｮ01ｨｨｨｰ0205ｨｹｨｪ04ｨｦ ｨ 08ｨ ｨｨｨｰ08ｨ 03 ｨｨ05ｨｨ ｨ ｨｬ ｨ 00ｨ 06ｨｴｨｨ02 04ｨ ｨｰ08ｨ ｨｰ04 ｨｪｨ 09ｨｰ060806ｨｪｨｮ, ｨｨ0903ｨｮ ｨｰｨｮ - ｨｪｨｨ04ｨｬ (ｨｪｨ 0708ｨｨｨｬ ｨｮｨｰ02ｨｬ 04ｨ ｨ ), ｨｰ0907 ｨｪｨ ｨｨｨ ﾂｨ 09ｨｰ06 ｨｨ ｨｹ04ｨｮ02ｨｬ06ｨｦ ｨ 05ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ0906ｨｦ, 06ｨ ﾂｨｨ09ｨ 06ｨｴ02ｨｦ 05ｨｺ06ｨｪ06ｨｬｨｨ06 09ｨｮ0102 ｨ ｨ 0502ｨｬ04 ｨ 0802ｨｪ ｨｨ00ｨｨ ﾂ0209ｨｺ ﾂ ﾂ0209ｨｺ ｨｺｨ 07ｨｨｨｰｨ 05ｨ ｨ ｨｮ01ｨｮｨｰ 08ｨ 0909ｨｬ06ｨｰ0802ｨｪ04 ｨｪｨｨ ｨ 09ｨｪ Westinghouse 06 ｨｪ02ｨｨ ｨｪ02ｨｪｨｨｨｨ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ0609 ｨｪｨ ｨｰｨ 09ｨｺｨｮ ｨｮ08ｨ ｨｪｨ ｨｨ ﾂｨｨｨｪ02 00ｨｺ06ｨｬｨｬ0208 ﾂ0209ｨｺ06ｨｦ ｨｪ ｨｬ0603ｨｪ0609ｨｰｨｨ03 03ｨｨ0906 ｨｨ ｨｰ08ｨｨ08ｨｮ02ｨｰ 0708ｨｨｨｬ ｨ ｨｰ08ｨ ｨｰ ｨｪｨ 0708ｨｨｨｪｨｮ030102ｨｪｨｨ02. 02ｨ 0302 ﾂ ｨｰ08ｨｨ ｨ ｨｰｨｺ0804ｨｰ ｨｰｨｺｨ 04ｨ Westinghouse 06ｨｰ ｨｨ ｨｪ02ｨｪｨｨ ｨｨ01 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪ ｨ 0704ｨ ｨｰ0205ｨｹ09ｨｰ09 ｨｪ02 ｨ ｨｪ020902ｨｪ06 09ｨｮ0102ｨ ｨｪ ｨｪｨｨ ｨｨ09 ｨｺｨ ｨｬ, ｨｨ 00ｨｨ08ｨｬ04, ｨｨｨｬ020903ｨｨ Westinghouse, 0904ｨｪｨｮ030102ｨｪ04 ｨ 0405ｨｨ ｨｮ ｨｹ09ｨｰ090609ｨ ｨｰｨｹ ｨｪｨ ﾂｨｨｨｰ0205ｨｹｨｪ06 ｨｬ02ｨｪｨｹ03ｨｨｨｬ, ﾂ02ｨｬ ｨｰ06, ｨｪｨ ﾂｨｰ06 06ｨｪｨｨ ｨｨｨｬ0205ｨｨ 0708ｨ ｨｰ0902ｨｰ09ｨｰ09ｨｨｨｨ ｨｪｨ ﾂｨ 05ｨｹｨｪ04ｨｬ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ06ｨｬ ｨｦ ｨｪ0201ｨ 09ｨｪ02ｨｦ 09ｨｰ ｨ ｨｰｨｹ ｨｺ06ｨｮ (Joskow P. L. Commercial Impossibility, the Uranium Market, and the Westinghouse case. J. Legal Stud Vol. 6. P. 119) ｨ ｨｪｨ 05ｨｨ04ｨｨ08ｨｮ02ｨｰ ｨｪｨｨ02 Westinghouse 06ｨｰｨｺｨ 04ｨ ｨｰｨｹ ｨｰ ｨｪ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ ｨｺｨ ｨｺ ｨ 08ｨｨｨｰ0205ｨｹｨｪ ｨ ｨｪｨｨ02 08ｨｨ09ｨｺｨ, ｨｨ ｨｨ 09 05ｨｰｨｨｨｬ, 0706 ｨｪｨ 0302ｨｬｨｮ ｨｪｨｨ06, ｨｰｨ ｨｺ ｨｪｨｨ02 ｨｪ ｨｰ ｨｰｨｮｨｪ ｨｨ09ｨｰｨｨ ﾂ0209ｨｺｨｨｨｬ ｨｪｨｨ02ｨｬ. 0201ｨｪｨ ｨｺ06 06ｨｰｨｺ0804ｨｰ ｨ 09ｨｮ030102ｨｪｨｨ ﾂｨ ｨｰｨｨ 05ｨｰ ｨｮ- ﾂｨ 07 ｨｨ ｨｬ02ｨｪｨｪ04ｨｦ ｨｮ ｨｨ ｨｰ09ｨ, 06 ﾂ0209ｨｨ01ｨｪ06, ｨｮｨｬ 02ｨｪｨｹ03ｨ 06ｨｰ ｨｰｨｪ0609ｨｰｨｹ ｨｨ ｨｹ040609ｨ ｨｪｨｨ ｨｪ ﾂｨｪ0401 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｺｨ - ﾂ0209ｨｰ0902 ｨ 05ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨｨｨ 09 ｨ ｨｪｨ 05ｨｨ04ｨｨ08 ｨｮ02ｨｬ0401 ｨｪｨ ｨｬｨｨ 09ｨｨｨｰｨｮｨ 02ｨｨ0701.

12 1306ｨｪｨｰ020008ｨ 02ｨｨ07, 0802ｨｪｨｰｨ ｨｨ ｨ ｨｺ0506 ﾂ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｪ ｨ ｨｰ08ｨ ｨｰ ｨｨ 0708ｨｨ01ｨ 06ｨｴ02ｨｦ 00ｨｨｨ ｨｺ0609ｨｰｨｹ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｮ ｨ 0204 ｨｮｨｺｨ 04ｨ ｨｪｨｨ07 ｨｪｨ ｨｬ0603ｨｪ ｨ 09ｨｰ0607ｨｰ0205ｨｹ09ｨｰ09ｨ ｨｨ 01ｨ 08ｨ ｨｺｨｰ0208ｨｨ09ｨｰｨｨｨｺｨｨ ｨｺｨ ﾂ0209ｨｰ09ｨ 01ｨ ｨｪｨｪ06ｨｦ ｨｰ08ｨ ｨｪ09ｨ ｨｺ02ｨｨｨｨ. 06ｨ ｨｺ ｨｺｨ ｨｺ ｨｪｨｨ ｨｪ ｨｨ0102ｨｪｨｪ ｨ 09ｨｰ0607ｨｰ0205ｨｹ09ｨｰ09 ｨｪ ｨｨ05ｨｨ 01ｨ 0302 ｨｪ ｨｬ0603ｨｪ06 ｨｨ ｨｨ 09 ｨｰ02ｨｬ, ﾂｨｰ06 04ｨ ｨｺ06ｨｪｨｪ ｨｬ02ｨｴ02ｨｪｨｨ ｨｰ0208ｨｹ 09ｨｰ06ｨｨｨｰ , ｨｮ ﾂｨ 09ｨｰｨｪｨｨｨｺｨｨ ｨｺｨｨ ｨ ｨｮ01ｨｮｨｰ, ｨｺ ｨ ｨｺ 0708ｨ 09ｨｨ0506, ｨ 00ｨ ｨｰｨｹ0907 ｨｪｨ ﾂｨｪ04ｨｦ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ 09 ｨｪ020709ｨｪ06ｨｦ 00ｨ - 08ｨ ｨｪｨｰｨｨ02ｨｦ, ｨｺ06ｨｰ0608ｨ 07 06ｨ ﾂｨｨ09ｨ 02ｨｰ ｨｺ ｨｪ06 ﾂｨｪ04ｨｬ, ｨｪ ｨｨ 0708ｨ ｨｬ ｨｬ0201ｨ ｨｪｨｨ04ｨｬ06ｨｬ 0708ｨｨｨｪｨｮ030102ｨｪｨｨ07, ｨ ｨｨｨｬ02ｨｪｨｪ ｨｪｨｨ02ｨｬ ｨｪｨ 09ｨｨｨｪ0609ｨｪｨｮ06 09ｨｰ060806ｨｪｨｮ 0706ｨｰ0208ｨｹ ｨｺｨ 07ｨｨｨｰｨ 05ｨ 07ｨｮｨｰ02ｨｬ 06ｨｰｨｺｨ 04ｨ 06ｨｰ 0603 ｨｨ- 01ｨ 02ｨｬ ｨ ｨｮ01ｨｮｨｴ ｨ ｨｨ04ｨｪ0209ｨ. 06ｨｰ06ｨｰ 0106ｨ ｨｹｨｪ04ｨｦ 0804ｨｪ06 ﾂｨｪ04ｨｦ ｨｬ0201ｨ ｨｪｨｨ04ｨｬ 0708ｨｨｨｪｨｮ030102ｨｪｨｨ07 ｨ ｨｬｨｪ02ｨｪｨｨ ｨｰ ｨｪ0609ｨｪ04ｨｬ ｨｬ02ｨｪｨｰ06ｨｬ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨｪ06ｨｦ ｨ 05ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ ｨｰｨｨｨｺｨ 05ｨｹｨｪ06ｨｦ ｨｨｨｪｨｰ020008ｨ 02ｨｨ ｨｨ. 00ｨ ｨｺ06ｨｮ05ｨｨ 0708ｨｨ090601ｨｨｨｰ 0106ｨｺｨ 04ｨ ｨｰ0205ｨｹ09ｨｰ0906 ｨｰ060006, ﾂｨｰ ｨ ｨｺｨｰｨｨｨｺｨ 04ｨ ｨｺ ﾂ02ｨｪｨｨ07 06ｨｰｨｪ0609ｨｨｨｰ0205ｨｹｨｪ06 ｨｪ ｨｬｨ 05ｨｹｨｪ060006, ｨｪ02 06ｨ ﾂ02ｨｪｨｪ ｨ ｨｺ06 ｨｪ0601ｨ ｨｰ0205ｨｹｨｪ06 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ ｨ 05ｨ 01ｨ 02ｨｰ ｨｰｨｪ060302ｨｪｨｨ0701 ｨｨ ｨｺ08 ｨ ｨｦｨｪ ｨｺ06 06ｨｰ01ｨ 02ｨｰ ﾂｨｰ02ｨｪｨｨ ｨｪ04ｨｬ 04ｨ ｨｺ06ｨｪｨｪ04ｨｬ 09ｨ ｨｪｨｺ02ｨｨ07ｨｬ ｨｬ0209ｨｰ06 05ｨｰ ｨｺ06ｨｬｨｬ0208 ﾂ0209ｨｺｨｨ02 00ｨｨ08ｨｬ04, 07ｨｨ0302ｨｰ 06ｨｪ, 06ｨ 04 ﾂｨｪ ｨ 00ｨ 06ｨｰ0907 ｨｪｨ ｨｺｨｰｨｨ09ｨｪ0402 ｨｪ ｨｮ09ｨｬ06ｨｰ0802ｨｪｨｪ ｨ ｨｺ06ｨｪ06ｨｬ 0804ｨｪ06 ﾂｨｪ ｨ ｨｪｨｺ02ｨｨｨｨ, ｨｰｨ ｨｺｨｨ02 ｨｺｨ ｨｺ 06ｨ ｨｪｨｨ09ｨ ｨｪｨｨ02 06ｨ ｨｴ02ｨｦ ｨｮｨｰｨ 02ｨｨｨｨ ｨｰｨｮ - ｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺｨｨ ｨｪｨ 09ｨｰ080602ｨｪｨｪ06ｨｦ 00ｨｨ08ｨｬ04, ｨｺｨ ｨｺ ｨｰ09ｨｨ ｨｨ01ｨ ｨｪｨｨ ｨｰ0208ｨｨ ｨ ｨｮ01ｨｮｨｴ ｨ ｨｨ04ｨｪ0209ｨ, 09 ｨｺｨ ﾂ0209ｨｰ ｨｰ09ｨ ｨｰ0908ｨ ｨｴ02ｨｪｨｨ 07 ｨｪ ｨｪ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｪｨｨｨｬ ｨｨ ｨ 0609, 0708ｨｨ ｨｺ06ｨｰ060806ｨｬ 0102ｨｦ09ｨｰ09ｨｮ02ｨｰ 05ｨｰ06ｨｰ 0804ｨｪ06 ﾂｨｪ04ｨｦ ｨｬ0201ｨ ｨｪｨｨ04ｨｬ 06ｨ ﾂ02ｨｪｨｨ ｨｪ02ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ, ｨｰ ｨｪｨｨ ｨｰ02ｨｪ02ｨｨｨ 05ｨｹｨｪ06ｨｬｨｮ 06ｨ ｨｬｨ ｨｪｨｴｨｨｨｺｨｮ ｨｬｨｨｨｨ03 09 ｨ ｨｮ01ｨｮｨｴ02ｨｬ, ｨ ｨｰ06 ﾂｨｪ0202, 04ｨｪｨ ﾂｨｨｨｰ0205ｨｹｨｪ06 ｨ ｨｺ06ｨｦ, ﾂ02ｨｬ ｨｪｨｨ ｨｬ02ｨｪｨｪ ｨ ｨｰ08ｨ ｨｰ04 (ｨｰ. 02. ｨｰ02 04ｨ ｨｰ08ｨ ｨｰ04, ｨｺ06ｨｰ ｨｬ0603ｨｪ06 ｨｨ04ｨ 0203ｨ ｨｰｨｹ), 0202ｨｪ ｨ ﾂ02ｨｪｨｨ ｨｰ06ｨｺｨ ｨｺ09ｨ 04ｨｨ0802ｨｪｨｰ04, ｨ 06ｨｴ ｨｰ02ｨｪ02ｨｨｨ 05ｨｹ - ｨｪｨｮ ｨｮ 06ｨｰ 06ｨ ｨｬｨ ｨｪｨ ｨｨ09ｨｺ06ｨｪｨｰｨｨ080609ｨ ｨｪｨｪｨ ｨｪｨｪ0609ｨｰｨｹ 05ｨｰ ｨ ｨｮ- 15 Macauley S. Non-Contractual Relations in Business: A Preliminary Study, Am. Soc. Rev Vol. 28. Feb. P ｨ 05ｨｹｨｪ02ｨｦ ｨ 09ｨｮ030102ｨｪｨｨ ｨｪ06 ﾂｨｪ ｨｬ0201ｨ ｨｪｨｨ04ｨｬｨ 0708ｨｨｨｪｨｮ030102ｨｪｨｨ ｨｪ0609ｨ ｨｪ06 ｨｪｨ ｨ ｨｪｨ 05ｨｨ0402 ｨｺ06ｨｪｨｺｨｮ0802ｨｪｨｰｨｪ ｨ 09ｨｪ ｨｨ ｨｨ ｨｮ ｨｨ ｨｨ, ｨｨ ｨｨｨｪ000608ｨｬｨ 02ｨｨ07 06 ｨｺｨ ﾂ0209ｨｰ ｨｰ ｨｰ0607ｨｴ02ｨｦ, ｨ ｨｪｨｪ06ｨｬ ｨｮ06ｨｴ02ｨｦ 08ｨ ｨ 06ｨｰ02: Klein B., Leffler K. The Role of Market Forces in Assuring Contractual Performance, J. Pol. Econ Vol. 89. P. 615ｨC ｨｰ06ｨｰ ｨ ｨｪｨ 05ｨｨ04 08ｨ 0903ｨｨ080702ｨｰ ｨｨ 09 ｨ ｨｪ06ｨｬ 09ｨｨ ｨｨｨｬ02ｨｪ0702ｨｰ ｨ ｨｪｨ 05ｨｨ04, ｨ ｨｪｨｪ04ｨｦ 09 08ｨ ｨ 06ｨｰ02: Klein B. The Competitive Supply of Money. J. Money, Credit & Banking Vol. 6. P ｨｪ ｨ 02ｨｪ ｨ ｨｪｨ 05ｨｨ04ｨｮ 09ｨｰ08ｨ ｨ -

13 ｨｪ0103ｨ ｨｬｨｨｨｪ ｨｦｨｪ, 0406ｨ 0208ｨｰ ｨｮ , 0808ｨｬ02ｨｪ ﾂ07ｨｪ 01ｨｮｨｴ ｨｬｨｨｨ 05ｨｹｨｪ ｨｰ06ｨｺｨ ｨｪｨ ｨ 04ｨｰｨｹ ｨ ｨｨ ｨｰｨ ｨ 0600ｨ ｨｰ09ｨｰ09ｨ, ｨｺ06ｨｰ060804ｨｦ ｨｬ0600 ｨ 04 ｨ 04ｨｰｨｹ ｨｮ ﾂ02ｨｪ 0706ｨｰ02ｨｪ02ｨｨｨ 05ｨｹｨｪ04ｨｬ 06ｨ ｨｬｨ ｨｪｨｴｨｨｨｺ06ｨｬ, ｨｨ ｨｰｨ ｨｺ060906ｨｦ 0102ｨｦ09ｨｰ09ｨｨｨｰ0205ｨｹｨｪ ｨｨｨｰ 06ｨ ｨｬｨ ｨｪ ｨｨ 06ｨｰｨｪ060302ｨｪｨｨ07 09 ｨｪｨｨｨｬ ｨ ｨｮ01ｨｮｨｰ ｨｺ08ｨ ｨｴ02ｨｪ ｨｪｨｨ02 ｨｰｨ ｨｺ ｨ ﾂｨｪ ｨｰｨｪ060302ｨｪｨｨｨｦ ｨｰ02ｨｪ02ｨｨｨ 05ｨｹｨｪ04ｨｬ 06ｨ ｨｬｨ ｨｪｨｴｨｨｨｺ06ｨｬ ｨｮ09ｨｰ08 ｨ - ｨｪ0702ｨｰ ｨｬ0603ｨｪ0609ｨｰｨｹ 09ｨｨ09ｨｰ02ｨｬｨ ｨｰｨｨ ﾂ0209ｨｺ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ ｨｪｨｨ07 06ｨｰ ｨｪ0609ｨｰｨｪ ｨｰｨｮ070502ｨｪｨｨｨｦ, ｨ 02ｨｬ ｨｮ03ｨ ｨｴｨｨｨｬｨｨ, ｨ ｨｪｨｪ06ｨｬｨｮ 09 08ｨ ｨ 06ｨｰ02: Becker G. S., Stigler G. J. Law Enforcement, Malfeasance, and Compensation of Enforcers, J. Legal Stud Vol ｨｰ06ｨｰ 0804ｨｪ06 ﾂｨｪ04ｨｦ ｨｬ0201ｨ ｨｪｨｨ04ｨｬ 0708ｨｨｨｪｨｮ030102ｨｪｨｨ07 ｨｨ ｨｹ040609ｨ ｨｪ 09 08ｨ ｨ 06ｨｰ02 : Klein B., McLaughlin A. Resale Price Maintenance, Exclusive Territories, and Franchise Termination: The Coors Case (ｨｪ020607ｨｮｨ 05ｨｨｨｺ0609ｨ ｨｪｨｪｨ 07 08ｨｮｨｺ0607ｨｨ09ｨｹ) ｨ ｨｲ0709ｨｪ02ｨｪｨｨ ｨ ｨｪ ﾂｨ ｨｦ04ｨｨｨｪ ｨ 0302ｨｪｨｨｨｦ ｨｨ 06ｨｰ ｨｹｨｪ0401 ｨｮ ｨｨｨｦ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ0609, ｨｰｨ ｨｺｨｨ01 ｨｺｨ ｨｺ ｨ ｨｪｨｨ ｨｪ 0708ｨｨ ｨ 0302 ｨｰ0609ｨ , ｨｨ09ｨｺ0506 ﾂｨｨｨｰ0205ｨｹｨｪ0402 ｨｰ020808ｨｨｨｰ0608ｨｨｨｨ, ｨｨ00ｨｨ ﾂ0209ｨｺｨｨ02 ｨｪ ｨ ﾂｨ 05ｨｹｨｪ0402 ｨｨｨｪ090209ｨｰｨｨ02ｨｨｨｨ ｨｨ 09ｨｰｨ ｨｰｨｹｨｨ 06ｨ ｨｮ ｨｨ ｨ 09ｨｰ ｨｪｨｨ07 ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨ ｨｬｨ 05ｨｹｨｪ06 05ｨｰ ｨ 0302ｨｪｨｨ02, 00ｨ 08ｨ ｨｪｨｰｨｨ08ｨｮ06ｨｴ0202 ｨｪ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ- ﾂ0209ｨｺ ｨｪｨｨ02, ｨｰ ｨｰ 09ｨｨ05ｨｮ ｨｪｨｨｨｦ ｨｨ ｨｰｨｪ060302ｨｪｨｨ ｨｦ ｨ 09ｨｨ09ｨｨｨｬ06 06ｨｰ ｨｰ060006, ｨｪｨ 09ｨｺ0605ｨｹｨｺ ｨｨｨｺｨ ｨｬｨｨ07, 09 ｨｪｨ ﾂｨ ｨｪ ｨｨ0601ｨ ｨｬ060302ｨｰ ｨｨ0406ｨｦｨｰｨｨ 06ｨ ｨｬｨ ｨｪ ｨｨ ｨｮ ﾂｨ 09ｨｰｨｪｨｨｨｺｨｨ ｨｺｨｨ ｨｪｨ 06ｨｰ 05ｨｰ06, ｨｰ06 ｨｪ02 ｨ ｨｮ0102ｨｰ ｨｪ06 ｨｪｨｨｨｺｨ ｨｺ06ｨｦ ｨｰ08ｨ ｨｪ09ｨ ｨｺ02ｨｨｨｨ, 0609ｨｪ0609ｨ ｨｪｨｪ06ｨｦ ｨｪｨ ｨｨｨｨ (ｨｰ ｨｨ01ｨ ｨｪｨｨｨｨ ｨｮ06ｨｴ02ｨｦ ｨｰｨｺｨｨ), ｨｪｨｨｨｦ ｨｨ0601, ｨｰｨ ｨｺ ｨｺｨ ｨｺ 06ｨｪ 09ｨｰｨ ｨｪ02ｨｰ ｨｪｨｨｨｬ, ｨｨ ｨｰ ｨｮ ﾂｨ ｨｺ08ｨｮ07ｨｪ06ｨｦ 08ｨ ｨｦ ｨ ｨｰ06ｨｦ ｨｪ02ｨｬ ｨｨ060102, ｨｰｨ ｨｺ06ｨｦ ｨｺｨ ｨｺ 0702ｨｪ09ｨｨ07, 09 ｨｺｨ ﾂ0209ｨｰ0902 ﾂｨ 09ｨｰｨｨ ｨｬ ｨｪ06 ﾂｨｪ ｨｨｨｪｨｮ030102ｨｪｨｨ07, ｨｺｨ ｨｺ ﾂ0208ｨｺｨｨ09ｨ 02ｨｰ ｨ ｨ 06ｨｰ ｨｺｨｺ0208ｨ ｨｨ 05ｨｰｨｨ ｨ (09ｨｬ. 09ｨｪ0609ｨｺｨｮ 16), 05ｨｰｨ ｨ 0502ｨｬｨ ｨｪ ｨｨ0601ｨ 09ｨｰｨ ｨｪ0609ｨｨ ｨｰ ﾂ0209ｨｨ01ｨｪ06ｨｦ. 0201ｨｪｨｨｨｬ ｨｨ ｨｪｨｨｨｦ 05ｨｰ06ｨｦ ｨｪ ｨｪｨ ｨｪｨｪ06ｨｦ ｨ 0502ｨｬ ｨｪ ｨｨ0601ｨ ｨｰ ｨｨ0005ｨ 0302ｨｪｨｨ02 ｨｺｨ ｨｺ ｨｨｨ 06 ｨｰ0802ｨｰｨｹ ｨｨ02ｨ (ｨｪｨ 0708ｨｨｨｬ0208, ｨ 0002ｨｪｨｰｨ ｨｮ ｨｪ ｨｪｨｨ080609ｨ ｨｪｨｨ ｨｪ0200 ｨｨ05ｨｨ ｨｮ 01ｨ 0809ｨｰ0902ｨｪｨｪ ｨ ｨｪｨ 0708ｨｨｨｪｨｮ030102ｨｪｨｨ07) ｨｰ0908ｨ ｨｴ02ｨｪｨｨ07 06ｨｰｨｺｨ 04ｨ 06ｨｰ ｨｪ ｨｪ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰｨ ｨｨ09ｨ ｨｪｨｪ06ｨｬ ｨｪｨ ｨｬｨｨ 0905ｨｮ ﾂｨ ｨｹｨｰ0208ｨｪｨ ｨｰｨｨ09ｨｪ04ｨｬ 00ｨ ｨｺｨｰ ｨｬ, ｨｨ09ｨ 06ｨｴｨｨｨｬ 06ｨ ｨｬｨ ｨｪ, 01ｨ 0302 ｨｺ060001ｨ 0109ｨｮ09ｨｰ060806ｨｪｨｪｨｨｨｦ ｨｺ06ｨｪｨｰ08ｨ ｨｺｨｰ ｨｨｨｰ 04ｨ ｨｺ0506 ﾂｨｨｨｰ0205ｨｹｨｪ04ｨｦ ｨｨ ｨｦ09ｨｰ09ｨｨ07, ｨｬ060302ｨｰ 0905ｨｮ03ｨｨｨｰｨｹ 0706ｨｰ02ｨｪ02ｨｨｨ 05 ｨｹｨｪｨ ｨｰ ｨｪｨｪ0609ｨｰｨｨ 05ｨｨｨｺ09ｨｨ01ｨｪ0401 ｨ ｨｺｨｰｨｨ ｨｨ0102 ｨｰ ｨｦ ｨｬｨ 08ｨｺｨｨ 09 ｨｪ ｨｪｨｪ04ｨｬ ｨｺ06ｨｬ 0905ｨｮ03ｨ ｨｨ ｨｮｨｰｨ 02ｨｨ ｨｪ06ｨｦ ｨｨ04 09ｨｰ ｨｪ ｨｺｨ ｨｺ 00ｨｨ08ｨｬ04, ｨｪ ｨｴ02ｨｦ ｨｰｨｮｨｪｨｨ09ｨｰｨｨ ﾂ0209ｨｺ ｨｪｨｨ07, ｨｬ ｨｰ ｨ 04ｨｰｨｹ ｨ ｨｪｨ ｨｨ ｨｨ ｨｹ040609ｨ ｨｪｨ ｨｮ06ｨｴｨｨ01 ｨｰ08ｨ ｨｪ09ｨ ｨｺ02ｨｨ ｨｺ06ｨｪ06 ｨｬｨｨｨｺ02 09 ｨ 0209ｨｺ06ｨｪ02 ﾂｨｪ04ｨｬ ｨｬ02ｨｪｨｪ04ｨｬ ｨｨ0406ｨｪｨｰ06ｨｬ, ｨｰ06 00ｨｨ08ｨｬｨ, ｨｺ06ｨｰ0608ｨ 07 ｨｨ0102ｨｰ ｨｪｨ 06ｨ ｨｬｨ ｨｪ 0506ｨ ｨｨ ｨｨ ｨｺｨｮ07ｨ ｨｰ020502ｨｦ ｨｪｨｨｨｦ ｨｨ0601, ｨｪ ｨｰ 0706ｨｰ0208ｨｨ ｨｺｨ 07ｨｨｨｰｨ 05ｨ. 06ｨｰｨｨｨｬ ｨｬ0603ｨｪ06 06ｨｰ ﾂｨ 09ｨｰｨｨ 06ｨ ｨｲ0709ｨｪｨｨｨｰｨｹ 09ｨｮｨｴ0209ｨｰ090609ｨ ｨｪｨｨ02 ｨｺ 06ｨｪ000506ｨｬ0208ｨ ｨｰ0609 ｨｨ ｨｨ ｨｹ040609ｨ ｨｪｨｨ02 ｨｨｨｬｨｨ ｨｰ ｨｬｨ 0806ｨｺ ｨｦ ｨｨ01 02ｨｪｨｰｨｨ00ｨｨｨｺｨ 02ｨｨｨｨ (ｨｪ06 ｨｪ ｨｨ09ｨ ｨｪｨｨ ｨｮｨｺｨｰｨ ).