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Robust political economy: The case of antitrust

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  • Stefan Voigt

Abstract

The notion of robust political economy is applied to antitrust. It is argued that the universalizability of policy rules is crucial if both the knowledge problem and the incentive problem in antitrust are taken seriously. Policy recommendations of Williamson are compared with those of Hayek. It is further argued that the notion of universalizability is central not only with regard to antitrust but also with regard to a host of other policy areas. Copyright Springer Science + Business Media, Inc. 2006

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  • Stefan Voigt, 2006. "Robust political economy: The case of antitrust," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 19(2), pages 203-215, June.
    • Handle: RePEc:kap:revaec:v:19:y:2006:i:2:p:203-215
    DOI: 10.1007/s11138-006-7348-1
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    References listed on IDEAS

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    1. Robert W. Crandall & Clifford Winston, 2005. "Does antitrust policy improve consumer welfare? Assessing the evidence," Chapters, in: Colin Robinson (ed.), Governments, Competition and Utility Regulation, chapter 2, Edward Elgar Publishing.
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    Cited by:

    1. Niclas Berggren, 2012. "Time for behavioral political economy? An analysis of articles in behavioral economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(3), pages 199-221, September.
    2. Schmidt André & Voigt Stefan, 2007. "Bessere europäische Wettbewerbspolitik durch den „more economic approach“ ? Einige Fragezeichen nach den ersten Erfahrungen / Does the more economic approach lead to a better competition policy? Some ," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 58(1), pages 33-50, January.
    3. David S. Lucas, 2017. "Federal homelessness policy: A robust political economy approach," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 30(3), pages 277-303, September.
    4. Benno Torgler, 2022. "The power of public choice in law and economics," Journal of Economic Surveys, Wiley Blackwell, vol. 36(5), pages 1410-1453, December.
    5. Shastitko, Andrey & Golovanova, Svetlana, 2016. "Meeting blindly… Is Austrian economics useful for dynamic capabilities theory?," Russian Journal of Economics, Elsevier, vol. 2(1), pages 86-110.
    6. Schmidt, André, 2007. "Per-se-Rule, Rule of Reason und der "more economic approach"," Volkswirtschaftliche Diskussionsbeiträge 92, University of Kassel, Faculty of Economics and Management.

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