Price theory and u.s. antitrust: a note on an enduring legal doctrine
Since the mid-1980s the post-Chicago approach to antitrust economics has produced a few game-theoretic models which have challenged many typical Chicago antitrust propositions. Yet, Chicago style antitrust has not yet lost its hold on u.s. antitrust. The paper suggests that the Chicago persistence within u.s. antitrust and, by the same token, the inhospitality of u.s. antitrust towards game-theoretical Industrial Organization theory owe much to the vitality of the legal doctrine according to which antitrust analysis should be consistent with traditional price theory. In particular, the paper analyzes two issues: i. the adoption of the equilibrium end-state notion of competition which is still dominant within mainstream economics and ii. the unshaken faith in the resilience of competition vis-à-vis Type ii errors committed by antitrust Agencies, provided that government-induced barriers to entry be absent or negligible.
When requesting a correction, please mention this item's handle: RePEc:hid:journl:v:21:y:2013:3:5:p:113-23. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mario Aldo Cedrini)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.