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Behavioral Antitrust and Merger Control

Author

Listed:
  • Gregory J. Werden
  • Luke M. Froeb
  • Mikhael Shor

Abstract

Scholarship on competition policy has begun to explore the implications of learning from behavioral research and to challenge the assumption of profit maximization at the heart of neoclassical economic theory of the firm. This scholarship is briefly reviewed, focusing on merger control. Prospects for basing merger control entirely on data from actual mergers or laboratory experiments are explored. Also explored are implications of behavioral research for merger assessment in consumer-goods industries. The conclusion is that competition policy should continue to rely on neoclassical economic analysis based on the assumption of profit maximization.

Suggested Citation

  • Gregory J. Werden & Luke M. Froeb & Mikhael Shor, 2011. "Behavioral Antitrust and Merger Control," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 167(1), pages 126-142, March.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(201103)167:1_126:baamc_2.0.tx_2-e
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    Citations

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    Cited by:

    1. Shastitko, Anastasia (Шаститко, Анастасия), 2014. "Behavioral Antitrust [Поведенческий Антитраст]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 76-91, December.
    2. Alexander Morell & Andreas Glöckner & Emanuel Towfigh, 2009. "Sticky Rebates: Rollback Rebates Induce Non-Rational Loyalty in Consumers," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2009_23, Max Planck Institute for Research on Collective Goods, revised Feb 2013.
    3. Andrzej Baniak & Peter Grajzl, 2014. "Controlling Product Risks when Consumers are Heterogeneously Overconfident: Producer Liability vs. Minimum Quality Standard Regulation," CESifo Working Paper Series 5003, CESifo.

    More about this item

    JEL classification:

    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices

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