Freedom to Trade and the Competitive Process
AbstractAlthough antitrust courts sometimes stress the competitive process, they have not deeply explored what that process is. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers forming improving coalitions. Much of antitrust can be seen as prohibiting firms’ attempts to restrain improving trade between their rivals and customers. In this way, antitrust protects firms’ and customers’ freedom to trade to their mutual betterment.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 16818.
Date of creation: Feb 2011
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Other versions of this item:
- Edlin, Aaron & Farrell, Joseph, 2011. "Freedom to Trade and the Competitive Process," Berkeley Olin Program in Law & Economics, Working Paper Series, Berkeley Olin Program in Law & Economics qt0xg2h885, Berkeley Olin Program in Law & Economics.
- Edlin, Aaron & Jennings, Richard & Farrell, Joseph, 2011. "Freedom to Trade and the Competitive Process," Competition Policy Center, Working Paper Series, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley qt5gx9n3tf, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley.
- D2 - Microeconomics - - Production and Organizations
- D4 - Microeconomics - - Market Structure and Pricing
- K2 - Law and Economics - - Regulation and Business Law
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
- L4 - Industrial Organization - - Antitrust Issues and Policies
- L5 - Industrial Organization - - Regulation and Industrial Policy
- M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics
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- Roman Inderst & Greg Shaffer, 2010. "Market-share contracts as facilitating practices," RAND Journal of Economics, RAND Corporation, RAND Corporation, vol. 41(4), pages 709-729.
- Sjostrom, William, 1989. "Collusion in Ocean Shipping: A Test of Monopoly and Empty Core Model s," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(5), pages 1160-79, October.
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