Market participant
 |
The term market participant is another term for
US constitutional law
When a state is acting in such a role, it may permissibly discriminate against non-residents. This principle was established by the
"Nothing in the purposes animating the Commerce Clause prohibits a State, in the absence of congressional action, from participating in the market and exercising the right to favor its own citizens over others." Hughes v. Alexandria Scrap Corp., 426 U.S. 794 (1976).
In Reeves, 447 U.S. 429 (1980), the Court relied upon "the long recognized right of trader or manufacturer, engaged in an entirely private business, freely to exercise his own independent discretion as to parties with whom he will deal."
"There are some limits on a state or local government's ability to impose restrictions that reach beyond the immediate parties with which the government transacts business." White v. Massachusetts Council of Construction Employers, Inc., 460 U.S. 204 (1983).
"The limit on the Market Participant Exception is that it allows a State to impose burdens on commerce within the market in which it is a participant but allows it to go no further. The State may not impose conditions, whether by statute, regulation, or contract, that have a substantial regulatory effect outside of that particular market." South-Central Timber Development, Inc. v. Wunnicke, 467 U.S. 82 (1984). "Downstream restrictions have a greater regulatory effect than do limitations on the immediate transaction. The State may not avail itself of the market-participant doctrine to immunize its downstream regulation of a market it is not actually a participant." Id.
The most ubiquitous example of a service offered by the individual states is the operation of
By contrast, discriminatory practices in the provision of essential public services, such as
Investing
In finance, market participants are traders or investors who buy and sell securities or commodities in a structured market.
See also
- Economic agent