(Slip Opinion) OCTOBER TERM, 2005 1
Syllabus
NOTE: Where it is feasible, a syllabus (headnote) will be released, as is
being done in connection with this case, at the time the opinion is issued.
The syllabus constitutes no part of the opinion of the Court but has been
prepared by the Reporter of Decisions for the convenience of the reader.
See United States v. Detroit Timber & Lumber Co., 200 U. S. 321, 337.
SUPREME COURT OF THE UNITED STATES
Syllabus
VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR
THE EIGHTH CIRCUIT
No. 04–905. Argued October 31, 2005—Decided January 10, 2006
Reeder-Simco GMC, Inc. (Reeder), an authorized dealer of heavy-duty
trucks manufactured by Volvo Trucks North America, Inc. (Volvo),
generally sold those trucks through an industry-wide competitive
bidding process, whereby the retail customer describes its specific
product requirements and invites bids from dealers it selects based
on such factors as an existing relationship, geography, and reputa-
tion. Once a Volvo dealer receives the customer’s specifications, it
requests from Volvo a discount or “concession” off the wholesale price.
Volvo decides on a case-by-case basis whether to offer a concession.
The dealer then uses its Volvo discount in preparing its bid; it pur-
chases trucks from Volvo only if and when the retail customer accepts
its bid. Reeder was one of many regional Volvo dealers. Although
nothing prohibits a Volvo dealer from bidding outside its territory,
Reeder rarely bid against another Volvo dealer. In the atypical case
in which a retail customer solicited a bid from more than one Volvo
dealer, Volvo’s stated policy was to provide the same price concession
to each dealer. In 1997, after Volvo announced plans to enlarge the
size of its dealers’ markets and to reduce by almost half the number
of its dealers, Reeder learned that Volvo had given another dealer a
price concession greater than the discounts Reeder typically received.
Reeder, suspecting it was one of the dealers Volvo sought to elimi-
nate, filed this suit under, inter alia, §2 of the Clayton Act, as
amended by the Robinson-Patman Act, 15 U. S. C. §13, alleging that
its sales and profits declined because Volvo offered other dealers
more favorable price concessions. At trial, Reeder presented evidence
of two instances when it bid against another Volvo dealer for a par-
ticular sale. In the first, although Volvo initially offered Reeder a
2 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Syllabus
lower concession, Volvo ultimately matched the concession offered to
the competing dealer. Neither dealer won the bid. In the second,
Volvo initially offered the two dealers the same concession, but in-
creased the other dealer’s discount after it, rather than Reeder, was
selected. Reeder dominantly relied on comparisons between conces-
sions it received on four occasions when it bid successfully against
non-Volvo dealers (and thus purchased Volvo trucks), with more fa-
vorable concessions other successful Volvo dealers received in bidding
processes in which Reeder did not participate. Reeder also compared
concessions Volvo offered it on several occasions when it bid unsuc-
cessfully against non-Volvo dealers (and therefore did not purchase
Volvo trucks), with more favorable concessions accorded other Volvo
dealers who gained contracts on which Reeder did not bid. Reeder
did not look for instances in which it received a larger concession
than another Volvo dealer, but acknowledged it was “quite possible”
that such instances occurred. Nor did Reeder offer any statistical
analysis revealing whether it was disfavored on average as compared
to other dealers. The jury found a reasonable possibility that dis-
criminatory pricing may have harmed competition between Reeder
and other Volvo dealers, that Volvo’s discriminatory pricing injured
Reeder, and that Reeder’s damages from Volvo’s Robinson-Patman
violation exceeded $1.3 million. The District Court awarded treble
damages on the Robinson-Patman Act claim, and entered judgment.
Affirming, the Eighth Circuit, among other things, noted the
threshold requirement that Reeder show it was a “purchaser” within
the Act’s meaning; rejected Volvo’s contention that competitive bid-
ding situations do not give rise to Robinson-Patman claims; held that
the four instances in which Reeder purchased trucks following suc-
cessful bids rendered it a purchaser under the Act; determined that a
jury could reasonably decide Reeder was in actual competition with
favored dealers at the time price differentials were imposed; and held
that the jury could properly find Reeder had proved competitive in-
jury based on evidence that (1) Volvo intended to reduce the number
of its dealers, (2) Reeder lost one contract for which it competed with
another Volvo dealer, (3) Reeder would have earned more profits, had
it received the concessions given other dealers, and (4) Reeder’s sales
declined over time.
Held: A manufacturer may not be held liable for secondary-line price
discrimination under the Robinson-Patman Act in the absence of a
showing that the manufacturer discriminated between dealers com-
peting to resell its product to the same retail customer. The Act does
not reach the case Reeder presents. It centrally addresses price dis-
crimination in cases involving competition between different pur-
chasers for resale of the purchased product. Competition of that
Cite as: 546 U. S. ____ (2006) 3
Syllabus
character ordinarily is not involved when a product subject to special
order is sold through a customer-specific competitive bidding process.
Pp. 7–15.
1. Section 2 was enacted to curb financially powerful corporations’
use of localized price-cutting tactics that gravely impaired other sell-
ers’ competitive position. FTC v. Anheuser-Busch, Inc., 363 U. S. 536,
543, and n. 6. Augmenting §2, the Robinson-Patman Act targeted the
perceived harm to competition occasioned by the advent of large
chain stores able to obtain lower prices for goods than smaller buyers
could demand. Robinson-Patman does not ban all price differences
charged to different purchasers of similar commodities, but pro-
scribes only “price discrimination [that] threatens to injure competi-
tion,” Brooke Group Ltd. v. Brown & Williamson Tobacco Corp., 509
U. S. 209, 220. Of the three categories of competitive injury that may
give rise to a Robinson-Patman claim, secondary-line cases, like this
one, involve price discrimination that injures competition among the
discriminating seller’s customers (here, Volvo’s dealerships). Reeder
has satisfied the Act’s first two requirements for establishing secon-
dary-line injury: (1) The relevant Volvo truck sales were made in in-
terstate commerce, and (2) the trucks were of “like grade and qual-
ity,’’ 15 U. S. C. §13(a). Because Reeder has not identified any
differentially-priced transaction in which it was both a “purchaser”
under the Act and “in actual competition” with a favored purchaser
for the same customer, see e.g., FTC v. Sun Oil Co., 371 U. S. 505,
518–519, Volvo and amicus United States maintain that Reeder can-
not satisfy the Act’s third and fourth requirements—that (3) Volvo
“discriminate[d] in price between” Reeder and another purchaser of
Volvo trucks, and (4) “the effect of such discrimination may be . . . to
injure, destroy, or prevent competition” to the advantage of a favored
purchaser, i.e., one who “receive[d] the benefit of such discrimina-
tion,” ibid. Absent actual competition with a favored Volvo dealer,
Reeder cannot establish the competitive injury the Act requires.
Pp. 7–10.
2. The injury to competition targeted by the Robinson-Patman Act
is not established by the selective comparisons Reeder presented at
trial: (1) comparisons of concessions Reeder received for four success-
ful bids against non-Volvo dealers, with larger concessions other suc-
cessful Volvo dealers received for different sales on which Reeder did
not bid (purchase-to-purchase comparisons); (2) comparisons of con-
cessions offered to Reeder in connection with several unsuccessful
bids against non-Volvo dealers, with greater concessions accorded
other Volvo dealers who competed successfully for different sales on
which Reeder did not bid (offer-to-purchase comparisons); and (3)
comparisons of two occasions on which Reeder bid against another
4 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Syllabus
Volvo dealer (head-to-head comparisons). Pp. 10–14.
(a) Because the purchase-to-purchase and offer-to-purchase com-
parisons fail to show that Volvo sold at a lower price to Reeder’s
“competitors,” those comparisons do not support an inference of com-
petitive injury. See Falls City Industries, Inc. v. Vanco Beverage, Inc.,
460 U. S. 428, 435. Both types of comparisons fall short because in
none of the discrete instances on which Reeder relied did it compete
with beneficiaries of the alleged discrimination for the same customer.
Nor did Reeder even attempt to show that the compared dealers were
consistently favored over it. Reeder simply paired occasions on which
it competed with non-Volvo dealers for a sale to Customer A with in-
stances in which other Volvo dealers competed with non-Volvo deal-
ers for a sale to Customer B. The compared incidents were tied to no
systematic study and were separated in time by as many as seven
months. This Court declines to permit an inference of competitive in-
jury from evidence of such a mix-and-match, manipulable quality.
No similar risk of manipulation occurs in cases kin to the chain-store
paradigm. Here, there is no discrete “favored” dealer comparable to a
chain store or a large independent department store—at least,
Reeder’s evidence is insufficient to support an inference that such a
dealer exists. For all that appears, Reeder, on occasion, might have
gotten a better deal vis-à-vis one or more of the dealers in its com-
parisons. While Reeder may have competed with other Volvo dealers
for the opportunity to bid on potential sales in a broad geographic
area, competition at that initial stage is based on a variety of factors,
including the existence vel non of a relationship between the poten-
tial bidder and the customer, geography, and reputation. Once the
customer has chosen the particular dealers from which it will solicit
bids, the relevant market becomes limited to the needs and demands
of the particular end user, with only a handful of dealers competing
for the sale. Volvo dealers’ bidding for sales in the same geographic
area does not import that they in fact competed for the same cus-
tomer-tailored sales. Pp. 11–12.
(b) Nor is a Robinson-Patman violation established by Reeder’s
evidence of two instances in which it competed head to head with an-
other Volvo dealer. When multiple dealers bid for the business of the
same customer, only one dealer will win the business and thereafter
purchase the supplier’s product to fulfill its contractual commitment.
Even assuming the Act applies to head-to-head transactions, Reeder
did not establish that it was disfavored vis-à-vis other Volvo dealers
in the rare instances in which they competed for the same sale—let
alone that the alleged discrimination was substantial. Reeder’s evi-
dence showed loss of only one sale to another Volvo dealer, a sale of
12 trucks that would have generated $30,000 in gross profits for
Cite as: 546 U. S. ____ (2006) 5
Syllabus
Reeder. Per its policy, Volvo initially offered Reeder and the other
dealer the same concession, but ultimately granted a larger conces-
sion to the other dealer after it had won the bid. In the only other in-
stance of head-to-head competition, Volvo increased Reeder’s initial
discount to match the discount offered the other competing Volvo
dealer, but neither dealer won the bid. If price discrimination be-
tween two purchasers existed at all, it was not of such magnitude as
to affect substantially competition between Reeder and the “favored”
Volvo dealer. Pp. 12–13.
3. The Robinson-Patman Act signals no large departure from anti-
trust law’s primary concern, interbrand competition. Even if the
Act’s text could be construed as Reeder urges and the Eighth Circuit
held, this Court would resist interpretation geared more to the pro-
tection of existing competitors than to the stimulation of competition.
There is no evidence here that any favored purchaser possesses mar-
ket power, the allegedly favored purchasers are dealers with little re-
semblance to large independent department stores or chain opera-
tions, and the supplier’s selective price discounting fosters
competition among suppliers of different brands. By declining to ex-
tend Robinson-Patman’s governance to such cases, the Court contin-
ues to construe the Act consistently with antitrust law’s broader poli-
cies. Pp. 13–14.
374 F. 3d 701, reversed and remanded.
GINSBURG, J., delivered the opinion of the Court, in which ROBERTS,
C. J., and O’CONNOR, SCALIA, KENNEDY, SOUTER, and BREYER, JJ.,
joined. STEVENS, J., filed a dissenting opinion, in which THOMAS, J.,
joined.
Cite as: 546 U. S. ____ (2006) 1
Opinion of the Court
NOTICE: This opinion is subject to formal revision before publication in the
preliminary print of the United States Reports. Readers are requested to
notify the Reporter of Decisions, Supreme Court of the United States, Wash-
ington, D. C. 20543, of any typographical or other formal errors, in order
that corrections may be made before the preliminary print goes to press.
SUPREME COURT OF THE UNITED STATES
_________________
No. 04–905
_________________
VOLVO TRUCKS NORTH AMERICA, INC., PETI-
TIONER v. REEDER-SIMCO GMC, INC.
ON WRIT OF CERTIORARI TO THE UNITED STATES COURT OF
APPEALS FOR THE EIGHTH CIRCUIT
[January 10, 2006]
JUSTICE GINSBURG delivered the opinion of the Court.
This case concerns specially ordered products—heavy-
duty trucks supplied by Volvo Trucks North America, Inc.
(Volvo), and sold by franchised dealers through a competi-
tive bidding process. In this process, the retail customer
states its specifications and invites bids, generally from
dealers franchised by different manufacturers. Only when
a Volvo dealer’s bid proves successful does the dealer
arrange to purchase the trucks, which Volvo then builds to
meet the customer’s specifications.
Reeder-Simco GMC, Inc. (Reeder), a Volvo dealer lo-
cated in Fort Smith, Arkansas, commenced suit against
Volvo alleging that Reeder’s sales and profits declined
because Volvo offered other dealers more favorable price
concessions than those offered to Reeder. Reeder sought
redress for its alleged losses under §2 of the Clayton Act,
38 Stat. 730, as amended by the Robinson-Patman Price
Discrimination Act, 49 Stat. 1526, 15 U. S. C. §13 (Robin-
son-Patman Act or Act), and the Arkansas Franchise
Practices Act, Ark. Code Ann. §4–72–201 et seq. (2001).
Reeder prevailed at trial and on appeal on both claims.
2 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Opinion of the Court
We granted review on the federal claim to resolve the
question whether a manufacturer offering its dealers
different wholesale prices may be held liable for price
discrimination proscribed by Robinson-Patman, absent a
showing that the manufacturer discriminated between
dealers contemporaneously competing to resell to the same
retail customer. While state law designed to protect fran-
chisees may provide, and in this case has provided, a
remedy for the dealer exposed to conduct of the kind
Reeder alleged, the Robinson-Patman Act, we hold, does
not reach the case Reeder presents. The Act centrally
addresses price discrimination in cases involving competi-
tion between different purchasers for resale of the pur-
chased product. Competition of that character ordinarily
is not involved when a product subject to special order is
sold through a customer-specific competitive bidding
process.
I
Volvo manufactures heavy-duty trucks. Reeder sells
new and used trucks, including heavy-duty trucks. 374
F. 3d 701, 704 (CA8 2004). Reeder became an authorized
dealer of Volvo trucks in 1995, pursuant to a five-year
franchise agreement that provided for automatic one-year
extensions if Reeder met sales objectives set by Volvo.
Ibid. Reeder generally sold Volvo’s trucks through a
competitive bidding process. Ibid. In this process, the
retail customer describes its specific product requirements
and invites bids from several dealers it selects. The cus-
tomer’s “decision to request a bid from a particular dealer
or to allow a particular dealer to bid is controlled by such
factors as an existing relationship, geography, reputation,
and cold calling or other marketing strategies initiated by
individual dealers.” Id., at 719 (Hansen, J., concurring in
part and dissenting in part).
Once a Volvo dealer receives the customer’s specifica-
Cite as: 546 U. S. ____ (2006) 3
Opinion of the Court
tions, it turns to Volvo and requests a discount or “conces-
sion” off the wholesale price (set at 80% of the published
retail price). Id., at 704. It is common practice in the
industry for manufacturers to offer customer-specific
discounts to their dealers. Ibid.; App. 334, 337. Volvo
decides on a case-by-case basis whether to offer a discount
and, if so, what the discount rate will be, taking account of
such factors as industry-wide demand and whether the
retail customer has, historically, purchased a different
brand of trucks. App. 348–349, 333–334.1 The dealer then
uses the discount offered by Volvo in preparing its bid; it
purchases trucks from Volvo only if and when the retail
customer accepts its bid. Ibid.
Reeder was one of many Volvo dealers, each assigned by
Volvo to a geographic territory. Reeder’s territory encom-
passed ten counties in Arkansas and two in Oklahoma.
374 F. 3d, at 709. Although nothing prohibits a Volvo
dealer from bidding outside its territory, ibid., Reeder
rarely bid against another Volvo dealer, see id., at 705; 5
App. in No. 02–2462 (CA8), pp. 1621–1622 (hereinafter
C. A. App.). In the atypical event that the same retail
customer solicited a bid from more than one Volvo dealer,
Volvo’s stated policy was to provide the same price conces-
sion to each dealer competing head to head for the same
sale. 4 C. A. App. 1161–1162; 5 id., at 1619, 1621.
In 1997, Volvo announced a program it called “Volvo
Vision,” in which the company addressed problems it faced
in the market for heavy trucks, among them, the com-
pany’s assessment that it had too many dealers. Volvo
projected enlarging the size of its dealers’ markets and
reducing the number of dealers from 146 to 75. 374 F. 3d,
——————
1 To shield its ability to compete with other manufacturers, Volvo
keeps confidential its precise method for calculating concessions offered
to dealers. 374 F. 3d 701, 704–705 (CA8 2004); App. 337–338.
4 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Opinion of the Court
at 705. Coincidentally, Reeder learned that Volvo had
given another dealer a price concession greater than the
concessions Reeder typically received, and “Reeder came to
suspect it was one of the dealers Volvo sought to elimi-
nate.” Ibid. Reeder filed suit against Volvo in February
2000, alleging losses attributable to Volvo’s violation of the
Arkansas Franchise Practices Act and the Robinson-
Patman Act.
At trial, Reeder’s vice-president, William E. Heck, ac-
knowledged that Volvo’s policy was to offer equal conces-
sions to Volvo dealers bidding against one another for a
particular contract, but he contended that the policy “was
not executed.” 4 C. A. App. 1162. Reeder presented evi-
dence concerning two instances over the five-year course of
its authorized dealership when Reeder bid against other
Volvo dealers for a particular sale. 374 F. 3d, at 705, 708–
709. One of the two instances involved Reeder’s bid on a
sale to Tommy Davidson Trucking. 4 C. A. App. 1267–
1268. Volvo initially offered Reeder a concession of 17%,
which Volvo, unprompted, increased to 18.1% and then,
one week later, to 18.9%, to match the concession Volvo
had offered to another of its dealers. 5 id., at 1268–1272.
Neither dealer won the bid. Id., at 1272. The other in-
stance involved Hiland Dairy, which solicited bids from
both Reeder and Southwest Missouri Truck Center. Id., at
1626–1627. Per its written policy, Volvo offered the two
dealers the same concession, and Hiland selected South-
west Missouri, a dealer from which Hiland had previously
purchased trucks. Ibid. After selecting Southwest Mis-
souri, Hiland insisted on the price Southwest Missouri had
bid prior to a general increase in Volvo’s prices; Volvo
obliged by increasing the size of the discount. Id., at 1627.
See also id., at 1483–1488; 374 F. 3d, at 720 (Hansen, J.,
concurring in part and dissenting in part).
Reeder dominantly relied on comparisons between
concessions Volvo offered when Reeder bid against non-
Cite as: 546 U. S. ____ (2006) 5
Opinion of the Court
Volvo dealers, with concessions accorded to other Volvo
dealers similarly bidding against non-Volvo dealers for
other sales. Reeder’s evidence compared concessions
Reeder received on four occasions when it bid successfully
against non-Volvo dealers (and thus purchased Volvo
trucks), with more favorable concessions other successful
Volvo dealers received in connection with bidding proc-
esses in which Reeder did not participate. Id., at 705–706.
Reeder also compared concessions offered by Volvo on
several occasions when Reeder bid unsuccessfully against
non-Volvo dealers (and therefore did not purchase Volvo
trucks), with more favorable concessions received by other
Volvo dealers who gained contracts on which Reeder did
not bid. Id., at 706–707.
Reeder’s vice-president, Heck, testified that Reeder did
not look for instances in which it received a larger conces-
sion than another Volvo dealer, although he acknowledged
it was “quite possible” that such instances occurred. 5
C. A. App. 1462. Nor did Reeder endeavor to determine by
any statistical analysis whether Reeder was disfavored on
average as compared to another dealer or set of dealers.
Id., at 1462–1464.
The jury found that there was a reasonable possibility
that discriminatory pricing may have harmed competition
between Reeder and other Volvo truck dealers, and that
Volvo’s discriminatory pricing injured Reeder. App. 480–
486. It further found that Reeder’s damages from Volvo’s
Robinson-Patman Act violation exceeded $1.3 million. Id.,
at 486.2 The District Court summarily denied Volvo’s
motion for judgment as a matter of law and the company’s
alternative motion for new trial or remittitur, awarded
——————
2 The jury also awarded Reeder damages of $513,750 on Reeder’s
state-law claim under the Arkansas Franchise Practices Act. No
question is before us respecting that claim, which trained on Volvo’s
alleged design to eliminate Reeder as a Volvo dealer. See supra, at 4.
6 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Opinion of the Court
treble damages on the Robinson-Patman Act claim, and
entered judgment.
A divided Court of Appeals for the Eighth Circuit af-
firmed. The appeals court noted that, “as a threshold
matter[,] Reeder had to show [that] it was a ‘purchaser’
within the meaning of the [Act],” 374 F. 3d, at 708, i.e.,
that “there were actual sales at two different prices[,] . . . a
sale to [Reeder] and a sale to another Volvo dealer,” id., at
707–708. Rejecting Volvo’s contention that competitive
bidding situations do not give rise to claims under the
Robinson-Patman Act, id., at 708–709, the Court of Ap-
peals observed that Reeder was “more than an unsuccess-
ful bidder,” id., at 709. The four instances in which
Reeder “actually purchased Volvo trucks following suc-
cessful bids on contracts,” the court concluded, sufficed to
render Reeder a purchaser within the meaning of the Act.
Ibid.
The Court of Appeals next determined that a jury could
reasonably decide that Reeder was “in actual competition”
with favored dealers. Ibid. “[A]s of the time the price
differential was imposed,” the court reasoned, “the favored
and disfavored purchasers competed at the same func-
tional level . . . and within the same geographic market.”
Ibid. (quoting Best Brands Beverage, Inc. v. Falstaff Brew-
ing Corp., 842 F. 2d 578, 585 (CA2 1987)). The court
further held that the jury could properly find from the
evidence that Reeder had proved competitive injury from
price discrimination. Specifically, the court pointed to
evidence showing that (1) Volvo intended to reduce the
number of its dealers; (2) Reeder lost the Hiland Dairy
contract, for which it competed head to head with another
Volvo dealer; (3) Reeder would have earned more profits,
had it received the concessions other dealers received; and
(4) Reeder’s sales had declined over a period of time. 374
F. 3d, at 711–712. The court also affirmed the award of
treble damages to Reeder. Id., at 712–714.
Cite as: 546 U. S. ____ (2006) 7
Opinion of the Court
Judge Hansen dissented as to the Robinson-Patman Act
claim. “Traditional [Robinson-Patman Act] cases,” he
observed, “involve sellers and purchasers that carry inven-
tory or deal in fungible goods.” Id., at 718. The majority,
Judge Hansen commented, “attempt[ed] to fit a square peg
into a round hole,” ibid., when it extended the Act’s reach
to the marketplace for heavy-duty trucks, where “special-
order products are sold to individual, pre-identified cus-
tomers only after competitive bidding,” ibid. There may
be competition among dealers for the opportunity to bid on
potential sales, he noted, but “[o]nce bidding begins, . . .
the relevant market becomes limited to the needs and
demands of a particular end user, with only a handful of
dealers competing for the ultimate sale.” Id., at 719.
Violation of the Act, in Judge Hansen’s view, could not be
predicated on the instances Reeder identified in which it
was a purchaser, for “there was no actual competition
between” Reeder and another Volvo dealer at the time of
Reeder’s purchases. Ibid. “Without proof of actual compe-
tition” for the same customer when the requisite pur-
chases were made, he concluded, “Reeder cannot demon-
strate a reasonable possibility of competitive injury.” Ibid.
We granted certiorari, 544 U. S. ___ (2005), to resolve
this question: May a manufacturer be held liable for sec-
ondary-line price discrimination under the Robinson-
Patman Act in the absence of a showing that the manufac-
turer discriminated between dealers competing to resell
its product to the same retail customer? Satisfied that the
Court of Appeals erred in answering that question in the
affirmative, we reverse the Eighth Circuit’s judgment.
II
Section 2, “when originally enacted as part of the Clay-
ton Act in 1914, was born of a desire by Congress to curb
the use by financially powerful corporations of localized
price-cutting tactics which had gravely impaired the com-
8 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Opinion of the Court
petitive position of other sellers.” FTC v. Anheuser-Busch,
Inc., 363 U. S. 536, 543, and n. 6 (1960) (citing H. R. Rep.
No. 627, 63d Cong., 2d Sess., 8 (1914); S. Rep. No. 698, 63d
Cong., 2d Sess., 2–4 (1914)). Augmenting that provision in
1936 with the Robinson-Patman Act, Congress sought to
target the perceived harm to competition occasioned by
powerful buyers, rather than sellers; specifically, Congress
responded to the advent of large chain stores, enterprises
with the clout to obtain lower prices for goods than smaller
buyers could demand. See 14 H. Hovenkamp, Antitrust
Law ¶2302, p. 11 (2d ed. 2006) (hereinafter Hovenkamp);
P. Areeda & L. Kaplow, Antitrust Analysis ¶602, pp. 908–
909 (5th ed. 1997) (hereinafter Areeda). The Act provides,
in relevant part:
“It shall be unlawful for any person engaged in com-
merce . . . to discriminate in price between different
purchasers of commodities of like grade and quality,
. . . where the effect of such discrimination may be
substantially to lessen competition or tend to create a
monopoly in any line of commerce, or to injure, de-
stroy, or prevent competition with any person who ei-
ther grants or knowingly receives the benefit of such
discrimination, or with customers of either of
them . . . .” 15 U. S. C. §13(a).
Pursuant to §4 of the Clayton Act, a private plaintiff may
recover threefold for actual injury sustained as a result of
a violation of the Robinson-Patman Act. See 15 U. S. C.
§15(a); J. Truett Payne Co. v. Chrysler Motors Corp., 451
U. S. 557, 562 (1981).
Mindful of the purposes of the Act and of the antitrust
laws generally, we have explained that Robinson-Patman
does not “ban all price differences charged to different
purchasers of commodities of like grade and quality,”
Brooke Group Ltd. v. Brown & Williamson Tobacco Corp.,
Cite as: 546 U. S. ____ (2006) 9
Opinion of the Court
509 U. S. 209, 220 (1993) (internal quotation marks omit-
ted); rather, the Act proscribes “price discrimination only
to the extent that it threatens to injure competition,” ibid.
Our decisions describe three categories of competitive
injury that may give rise to a Robinson-Patman Act claim:
primary-line, secondary-line, and tertiary-line. Primary-
line cases entail conduct—most conspicuously, predatory
pricing—that injures competition at the level of the dis-
criminating seller and its direct competitors. See, e.g., id.,
at 220–222; see also Hovenkamp ¶2301a, pp. 4–6. Secon-
dary-line cases, of which this is one, involve price dis-
crimination that injures competition among the discrimi-
nating seller’s customers (here, Volvo’s dealerships); cases
in this category typically refer to “favored” and “disfa-
vored” purchasers. See ibid.; Texaco Inc. v. Hasbrouck,
496 U. S. 543, 558, n. 15 (1990). Tertiary-line cases in-
volve injury to competition at the level of the purchaser’s
customers. See Areeda ¶601e, p. 907.
To establish the secondary-line injury of which it com-
plains, Reeder had to show that (1) the relevant Volvo
truck sales were made in interstate commerce; (2) the
trucks were of “like grade and quality’’; (3) Volvo “dis-
criminate[d] in price between” Reeder and another pur-
chaser of Volvo trucks; and (4) “the effect of such discrimi-
nation may be . . . to injure, destroy, or prevent
competition” to the advantage of a favored purchaser, i.e.,
one who “receive[d] the benefit of such discrimination.” 15
U. S. C. §13(a). It is undisputed that Reeder has satisfied
the first and second requirements. Volvo and the United
States, as amicus curiae, maintain that Reeder cannot
satisfy the third and fourth requirements, because Reeder
has not identified any differentially-priced transaction in
which it was both a “purchaser” under the Act and “in
actual competition” with a favored purchaser for the same
customer.
A hallmark of the requisite competitive injury, our
10 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Opinion of the Court
decisions indicate, is the diversion of sales or profits from
a disfavored purchaser to a favored purchaser. FTC v.
Sun Oil Co., 371 U. S. 505, 518–519 (1963) (evidence
showed patronage shifted from disfavored dealers to fa-
vored dealers); Falls City Industries, Inc. v. Vanco Bever-
age, Inc., 460 U. S. 428, 437–438, and n. 8 (1983) (com-
plaint “supported by direct evidence of diverted sales”).
We have also recognized that a permissible inference of
competitive injury may arise from evidence that a favored
competitor received a significant price reduction over a
substantial period of time. See FTC v. Morton Salt Co.,
334 U. S. 37, 49–51 (1948); Falls City Industries, 460
U. S., at 435. Absent actual competition with a favored
Volvo dealer, however, Reeder cannot establish the com-
petitive injury required under the Act.
III
The evidence Reeder offered at trial falls into three
categories: (1) comparisons of concessions Reeder received
for four successful bids against non-Volvo dealers, with
larger concessions other successful Volvo dealers received
for different sales on which Reeder did not bid (purchase-
to-purchase comparisons); (2) comparisons of concessions
offered to Reeder in connection with several unsuccessful
bids against non-Volvo dealers, with greater concessions
accorded other Volvo dealers who competed successfully
for different sales on which Reeder did not bid (offer-to-
purchase comparisons); and (3) evidence of two occasions
on which Reeder bid against another Volvo dealer (head-
to-head comparisons). The Court of Appeals concluded
that Reeder demonstrated competitive injury under the
Act because Reeder competed with favored purchasers “at
the same functional level . . . and within the same geo-
graphic market.” 374 F. 3d, at 709 (quoting Best Brands,
842 F. 2d, at 585). As we see it, however, selective com-
parisons of the kind Reeder presented do not show the
Cite as: 546 U. S. ____ (2006) 11
Opinion of the Court
injury to competition targeted by the Robinson-Patman
Act.
A
Both the purchase-to-purchase and the offer-to-purchase
comparisons fall short, for in none of the discrete instances
on which Reeder relied did Reeder compete with benefici-
aries of the alleged discrimination for the same customer.
Nor did Reeder even attempt to show that the compared
dealers were consistently favored vis-à-vis Reeder. Reeder
simply paired occasions on which it competed with non-
Volvo dealers for a sale to Customer A with instances in
which other Volvo dealers competed with non-Volvo deal-
ers for a sale to Customer B. The compared incidents
were tied to no systematic study and were separated in
time by as many as seven months. See 374 F. 3d, at 706,
710.
We decline to permit an inference of competitive injury
from evidence of such a mix-and-match, manipulable
quality. See Tr. of Oral Arg. 34–35, 55. No similar risk of
manipulation occurs in cases kin to the chain-store para-
digm. Here, there is no discrete “favored” dealer compa-
rable to a chain store or a large independent department
store—at least, Reeder’s evidence is insufficient to support
an inference of such a dealer or set of dealers. For all we
know, Reeder, on occasion, might have gotten a better deal
vis-à-vis one or more of the dealers in its comparisons.
See supra, at 5.
Reeder may have competed with other Volvo dealers for
the opportunity to bid on potential sales in a broad geo-
graphic area. At that initial stage, however, competition
is not affected by differential pricing; a dealer in the com-
petitive bidding process here at issue approaches Volvo for
a price concession only after it has been selected by a
retail customer to submit a bid. Competition for an oppor-
tunity to bid, we earlier observed, is based on a variety of
12 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Opinion of the Court
factors, including the existence vel non of a relationship
between the potential bidder and the customer, geography,
and reputation. See supra, at 2.3 We reiterate in this
regard an observation made by Judge Hansen, dissenting
from the Eighth Circuit’s Robinson-Patman holding: Once
a retail customer has chosen the particular dealers from
which it will solicit bids, “the relevant market becomes
limited to the needs and demands of a particular end user,
with only a handful of dealers competing for the ultimate
sale.” 374 F. 3d, at 719. That Volvo dealers may bid for
sales in the same geographic area does not import that
they in fact competed for the same customer-tailored sales.
In sum, the purchase-to-purchase and offer-to-purchase
comparisons fail to show that Volvo sold at a lower price to
Reeder’s “competitors,” hence those comparisons do not
support an inference of competitive injury. See Falls City
Industries, 460 U. S., at 435 (inference of competitive
injury under Morton Salt arises from “proof of a substan-
tial price discrimination between competing purchasers
over time” (emphasis added)).
B
Reeder did offer evidence of two instances in which it
competed head to head with another Volvo dealer. See
supra, at 4. When multiple dealers bid for the business of
the same customer, only one dealer will win the business
and thereafter purchase the supplier’s product to fulfill its
contractual commitment. Because Robinson-Patman
“prohibits only discrimination ‘between different purchas-
——————
3 A dealer’s reputation for securing favorable concessions, we recog-
nize, may influence the customer’s bidding invitations. Cf. post, at 3,
n. 2. We do not pursue that point here, however, because Reeder did
not present—or even look for—evidence that Volvo consistently disfa-
vored Reeder while it consistently favored certain other dealers. See
supra, at 5.
Cite as: 546 U. S. ____ (2006) 13
Opinion of the Court
ers,’ ” Brief for Petitioner 26 (quoting 15 U. S. C. §13(a);
emphasis added), Volvo and the United States argue, the
Act does not reach markets characterized by competitive
bidding and special-order sales, as opposed to sales from
inventory. See Brief for Petitioner 27; Brief for
United States as Amicus Curiae 9, 17–20. We need not
decide that question today. Assuming the Act applies to
the head-to-head transactions, Reeder did not establish
that it was disfavored vis-à-vis other Volvo dealers in the
rare instances in which they competed for the same sale—
let alone that the alleged discrimination was substantial.
See 1 ABA Section of Antitrust Law, Antitrust Law Devel-
opments 478–479 (5th ed. 2002) (“No inference of injury to
competition is permitted when the discrimination is not
substantial.” (collecting cases)).
Reeder’s evidence showed loss of only one sale to an-
other Volvo dealer, a sale of 12 trucks that would have
generated $30,000 in gross profits for Reeder. 374 F. 3d,
at 705. Per its policy, Volvo initially offered Reeder and
the other dealer the same concession. Volvo ultimately
granted a larger concession to the other dealer, but only
after it had won the bid. In the only other instance of
head-to-head competition Reeder identified, Volvo in-
creased Reeder’s initial 17% discount to 18.9%, to match
the discount offered to the other competing Volvo dealer;
neither dealer won the bid. See supra, at 4. In short, if
price discrimination between two purchasers existed at
all, it was not of such magnitude as to affect substantially
competition between Reeder and the “favored” Volvo
dealer.
IV
Interbrand competition, our opinions affirm, is the
“primary concern of antitrust law.” Continental T. V., Inc.
v. GTE Sylvania, Inc., 433 U. S. 36, 51–52, n. 19 (1977).
The Robinson-Patman Act signals no large departure from
14 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
Opinion of the Court
that main concern. Even if the Act’s text could be con-
strued in the manner urged by Reeder and embraced by
the Court of Appeals, we would resist interpretation
geared more to the protection of existing competitors than
to the stimulation of competition.4 In the case before us,
there is no evidence that any favored purchaser possesses
market power, the allegedly favored purchasers are deal-
ers with little resemblance to large independent depart-
ment stores or chain operations, and the supplier’s selec-
tive price discounting fosters competition among suppliers
of different brands. See id., at 51–52 (observing that the
market impact of a vertical practice, such as a change in a
supplier’s distribution system, may be a “simultaneous
reduction of intrabrand competition and stimulation of
interbrand competition”). By declining to extend Robin-
son-Patman’s governance to such cases, we continue to
construe the Act “consistently with broader policies of the
antitrust laws.” Brooke Group, 509 U. S., at 220 (quoting
Great Atlantic & Pacific Tea Co. v. FTC, 440 U. S. 69, 80,
n. 13 (1979)); see Automatic Canteen Co. of America v.
FTC, 346 U. S. 61, 63 (1953) (cautioning against Robinson-
Patman constructions that “extend beyond the prohibi-
tions of the Act and, in doing so, help give rise to a price
uniformity and rigidity in open conflict with the purposes
of other antitrust legislation”).5
——————
4 The dissent assails Volvo’s decision to reduce the number of its deal-
ers. Post, at 2, 5. But Robinson-Patman does not bar a manufacturer
from restructuring its distribution networks to improve the efficiency of
its operations. If Volvo did not honor its obligations to Reeder as its
franchisee, “[a]ny remedy . . . lies in state laws addressing unfair
competition and the rights of franchisees, not in the Robinson-Patman
Act.” Brief for United States as Amicus Curiae 28.
5 See also 14 H. Hovenkamp, Antitrust Law ¶2333c, p. 109 (2d ed.
2006) (commenting that the Eighth Circuit’s expansive interpretation
“views the [Robinson-Patman Act] as a guarantee of equal profit
margins on sales actually made,” and thereby exposes manufacturers to
treble damages unless they “charge uniform prices to their dealers”).
Cite as: 546 U. S. ____ (2006) 15
Opinion of the Court
* * *
For the reasons stated, the judgment of the Court of
Appeals for the Eighth Circuit is reversed, and the case is
remanded for further proceedings consistent with this
opinion.
It is so ordered.
Cite as: 546 U. S. ____ (2006) 1
STEVENS, J., dissenting
SUPREME COURT OF THE UNITED STATES
_________________
No. 04–905
_________________
VOLVO TRUCKS NORTH AMERICA, INC., PETI-
TIONER v. REEDER-SIMCO GMC, INC.
ON WRIT OF CERTIORARI TO THE UNITED STATES COURT OF
APPEALS FOR THE EIGHTH CIRCUIT
[January 10, 2006]
JUSTICE STEVENS, with whom JUSTICE THOMAS joins,
dissenting.
Franchised dealers who sell Volvo trucks, like those who
sell automobiles, farm equipment, washing machines, and
a variety of other expensive items, routinely engage in
negotiations with prospective purchasers. Sometimes the
prospect is simultaneously negotiating with two Volvo
dealers, sometimes with a Volvo dealer and a dealer rep-
resenting another manufacturer, and still other times a
satisfied customer who is generally familiar with the
options available in a competitive market may negotiate
with only one dealer at a time. Until today, the Robinson-
Patman Act’s prohibition of price discrimination1 would
have protected the dealer’s ability to negotiate in all those
situations. Today, however, by adopting a novel, transac-
tion-specific concept of competition, the Court eliminates
——————
1 Section 2 of the Clayton Act, as amended by §1 of the Robinson-
Patman Act, provides in relevant part that:
“It shall be unlawful for any person . . . to discriminate in price be-
tween different purchasers of commodities of like grade and quality . . .
where the effect of such discrimination may be substantially to lessen
competition or tend to create a monopoly in any line of commerce, or to
injure, destroy, or prevent competition with any person who either
grants or knowingly receives the benefit of such discrimination, or with
customers of either of them.” 38 Stat. 730, as amended, 49 Stat. 1526,
15 U. S. C. §13(a).
2 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
STEVENS, J., dissenting
that statutory protection in all but those rare situations in
which a prospective purchaser is negotiating with two
Volvo dealers at the same time.
I
Setting aside for the moment the fact that the case in-
volves goods specially ordered for particular customers
rather than goods stocked in inventory, the case is a
rather ordinary Robinson-Patman suit. Respondent
Reeder alleged a violation of the Act; the parties submitted
a good deal of conflicting evidence to the jury; the trial
judge properly instructed the jurors on the elements of
price discrimination, competitive injury, and damages;
and the jury returned a verdict resolving all issues in
Reeder’s favor. The Court of Appeals found no error in
either the instructions or the sufficiency of the evidence.
374 F. 3d 701 (CA8 2004).
Two issues of fact bear particular mention.
First, Volvo does not challenge the jury’s finding of price
discrimination. Reeder’s theory of the case was that Volvo
sought to cut back its number of dealers and deemed
Reeder expendable. To avoid possible violations of fran-
chise agreements and state laws, Volvo chose to accom-
plish this goal by offering Reeder worse prices than other
regional dealers.
Reeder introduced substantial evidence of this theory.
It showed that Volvo had an explicit business strategy,
known as the “Volvo Vision,” of “fewer dealers, larger
markets.” App. 34. It showed that Volvo could afford to
lose sales as it squeezed dealers out, since the boom years
of the late 1990’s left Volvo with about as many orders as
it could fill. Id., at 256–257. And it showed that Volvo
frequently gave worse prices to it than to other regional
dealers. On at least four occasions, Volvo sold trucks to
Reeder at significantly higher prices than to other dealers
Cite as: 546 U. S. ____ (2006) 3
STEVENS, J., dissenting
buying similar trucks around the same time.2 To give one
example, in the spring of 1998 Volvo sold 20 trucks to
Reeder at a 9% concession, but sold similar trucks to a
Texas dealer at a 12.3% concession. Id., at 132–134. This
left Reeder paying $2,606 more per truck. Id., at 134.
Although the Court chides Reeder for failing to perform
statistical analyses, see ante, at 5, 11, the jury clearly had
a sufficient basis for finding price discrimination. It could
infer that Volvo’s pricing policies were comparable to a
secret catalog listing one set of low prices for its “A” deal-
ers and a higher set for its “B” dealers like Reeder, with an
exception providing for the same prices where an “A”
dealer and a “B” dealer were engaged in negotiations with
the same customer at the same time.
Second, the jury found that the favored dealers at issue
in these comparisons were competitive players in the same
geographic market as Reeder. This conclusion is implicit
in the jury’s finding of competitive injury, since the jury
instruction on that element required Reeder to prove
“a substantial difference in price in sales by defendant
to plaintiff and other competing Volvo dealers over a
significant period of time. This requires plaintiff to
show that it and the other Volvo dealer(s) were retail
dealers within the same geographic market and that
the effect of the price differential was to allow the
other Volvo dealer(s) to draw sales or profits away
from plaintiff.” App. 480, Instruction No. 18.
Volvo does not dispute that the evidence was sufficient to
support the jury finding that Reeder and the favored
——————
2 Additionally, on more than 12 other occasions, Volvo offered worse
deals to Reeder than it gave to dealers who made comparable pur-
chases. Arguably due to Volvo’s stingy concessions, Reeder failed to
close with its customers in these instances and thus never ended up
buying the trucks at issue from Volvo.
4 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
STEVENS, J., dissenting
dealers operated in the same geographic market.3 Volvo’s
restraint is wise, as Reeder offered evidence that truck
buyers are unsurprisingly mobile, that it delivered trucks
to purchasers throughout the region, and that customers
would sometimes solicit bids from more than one regional
Volvo dealer.
II
For decades, juries have routinely inferred the requisite
injury to competition under the Robinson-Patman Act
from the fact that a manufacturer sells goods to one re-
tailer at a higher price than to its competitors. This rule
dates back to the following discussion of competitive injury
in Justice Black’s opinion for the Court in FTC v. Morton
Salt Co., 334 U. S. 37 (1948):
“It is argued that the findings fail to show that re-
spondent’s discriminatory discounts had in fact
caused injury to competition. There are specific find-
ings that such injuries had resulted from respondent’s
discounts, although the statute does not require the
Commission to find that injury has actually resulted.
The statute requires no more than that the effect of
the prohibited price discriminations ‘may be substan-
tially to lessen competition . . . or to injure, destroy, or
prevent competition.’ After a careful consideration of
this provision of the Robinson-Patman Act, we have
said that ‘the statute does not require that the dis-
criminations must in fact have harmed competition,
but only that there is a reasonable possibility that
they “may” have such an effect.’ Corn Products Co. v.
Federal Trade Comm’n, 324 U. S. 726, 742. Here the
——————
3 Similarly, and despite its selective discussion of the extensive evi-
dentiary record, ante, at 2–5, the Court does not question the suffi-
ciency of the evidence supporting the jury’s finding that Volvo engaged
in price discrimination against Reeder relative to other regional Volvo
dealers for a significant period of time.
Cite as: 546 U. S. ____ (2006) 5
STEVENS, J., dissenting
Commission found what would appear to be obvious,
that the competitive opportunities of certain mer-
chants were injured when they had to pay respondent
substantially more for their goods than their competi-
tors had to pay. The findings are adequate.” Id., at
45–47 (footnote omitted).
We have treated as competitors those who sell “in a single,
interstate retail market.” Falls City Industries, Inc. v.
Vanco Beverage, Inc., 460 U. S. 428, 436 (1983); cf. Tampa
Elec. Co. v. Nashville Coal Co., 365 U. S. 320, 327 (1961).
Under this approach—uncontroversial until today—
Reeder would readily prevail. There is ample evidence
that Volvo charged Reeder higher prices than it charged to
competing dealers in the same market over a period of
many months. That those higher prices impaired Reeder’s
ability to compete with those dealers is just as obvious as
the injury to competition described by the Court in Morton
Salt.
Volvo nonetheless argues that no competitive injury
could have occurred because it never discriminated
against Reeder when Reeder and another Volvo dealer
were seeking concessions with regard to the same ultimate
customer. In Volvo’s view, each transaction was a sepa-
rate market, one defined by the customer and those deal-
ers whom it had asked for bids. For each specific customer
who has solicited bids, Reeder’s only “competitors” were
the other dealers making bids. Accordingly, if none of
these other dealers were Volvo dealers, then Reeder suf-
fered no competitive harm (relative to other Volvo dealers)
when Volvo gave it a discriminatorily high price.
Unlike the Court, I cannot accept Volvo’s vision. Noth-
ing in the statute or in our precedent suggests that “com-
petition” is evaluated by a transaction-specific inquiry,
and such an approach makes little sense. It requires us to
ignore the fact that competition among truck dealers is a
6 VOLVO TRUCKS NORTH AMERICA, INC. v. REEDER-
SIMCO GMC, INC.
STEVENS, J., dissenting
continuing war waged over time rather than a series of
wholly discrete events. Each time Reeder managed to
resell trucks it had purchased at discriminatorily high
prices, it was forced either to accept lower profit margins
than were available to favored Volvo dealers or to pass on
the higher costs to its customers (who then might well go to
a different dealer the next time). And we have long indi-
cated that lost profits relative to a competitor are a proper
basis for permitting the Morton Salt inference. See, e.g.,
Falls City Industries, 460 U. S., at 435 (noting that to over-
come the Morton Salt inference, a defendant needs “evi-
dence breaking the causal connection between a price differ-
ential and lost sales or profits” (emphasis added)). By
ignoring these commonsense points, the Court gives short
shrift to the Robinson-Patman Act’s prophylactic intent.
See 15 U. S. C. §13(a) (barring price discrimination where
“the effect of such discrimination may be substantially to
lessen competition” (emphasis added)); see also, e.g., Mor-
ton Salt, 334 U. S., at 46.
The Court appears to hold that, absent head-to-head
bidding with a favored dealer, a dealer in a competitive
bidding market can suffer no competitive injury.4 It is
unclear whether that holding is limited to franchised
dealers who do not maintain inventories, or excludes
virtually all franchisees from the effective protection of the
Act. In either event, it is not faithful to the statutory text.
——————
4 Indeed, if Volvo’s argument about the meaning of “purchaser,” see
ante, at 12–13, ultimately meets with this Court’s approval, then the
Robinson-Patman Act will simply not apply in the special-order context.
Any time a special-order dealer fails to complete a transaction because
the high price drives away its ultimate customer, there will be no
Robinson-Patman violation because the dealer will not meet the “pur-
chaser” requirement, and any time the dealer completes the transaction
but at a discriminatorily high price, there will be no violation because
the dealer has no “competition” (as the majority sees it) for that specific
transaction at the moment of purchase.
Cite as: 546 U. S. ____ (2006) 7
STEVENS, J., dissenting
III
As the Court recognizes, the Robinson-Patman Act was
primarily intended to protect small retailers from the
vigorous competition afforded by chainstores and other
large volume purchasers. Whether that statutory mission
represented sound economic policy is not merely the sub-
ject of serious debate, but may well merit Judge Bork’s
characterization as “wholly mistaken economic theory.”5 I
do not suggest that disagreement with the policy of the
Act has played a conscious role in my colleagues’ unprece-
dented decision today. I cannot avoid, however, identify-
ing the irony in a decision refusing to adhere to the text of
the Act in a case in which the jury credited evidence that
discriminatory prices were employed as means of escaping
contractual commitments and eliminating specifically
targeted firms from a competitive market. The excep-
tional quality of this case provides strong reason to enforce
the Act’s prohibition against discrimination even if Judge
Bork’s evaluation (with which I happen to agree) is com-
pletely accurate.
Accordingly, I respectfully dissent.
——————
5 R. Bork, The Antitrust Paradox 382 (1978).