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On the Merits of Antitrust Liability in Regulated Industries

Listed author(s):
  • Arup Bose
  • Debashis Pal
  • David E. M. Sappington

We examine the merits of subjecting an incumbent supplier of regulated services to antitrust review. We show that antitrust review can harm consumers even when the review entails no direct costs of implementation. The harm to consumers arises in part because imperfect antitrust review can crowd out more effective regulatory oversight. More generally, antitrust review can usefully complement regulatory oversight but affects the nature of the optimal regulatory policy.

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File URL: http://dx.doi.org/10.1086/687042
Download Restriction: Access to the online full text or PDF requires a subscription.

File URL: http://dx.doi.org/10.1086/687042
Download Restriction: Access to the online full text or PDF requires a subscription.

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Article provided by University of Chicago Press in its journal The Journal of Law and Economics.

Volume (Year): 59 (2016)
Issue (Month): 2 ()
Pages: 359-392

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Handle: RePEc:ucp:jlawec:doi:10.1086/687042
Contact details of provider: Web page: http://www.journals.uchicago.edu/JLE/

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  1. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
  2. Joshua Schwartzstein & Andrei Shleifer, 2013. "An Activity-Generating Theory of Regulation," Journal of Law and Economics, University of Chicago Press, vol. 56(1), pages 1-38.
  3. Tardiff Timothy J. & Taylor William E., 2003. "Aligning Price Regulation with Telecommunications Competition," Review of Network Economics, De Gruyter, vol. 2(4), pages 1-17, December.
  4. Timothy Tardiff, 2007. "Changes in industry structure and technological convergence: implications for competition policy and regulation in telecommunications," International Economics and Economic Policy, Springer, vol. 4(2), pages 109-133, August.
  5. Dennis W. Carlton, 2007. "Does Antitrust Need to be Modernized?," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 155-176, Summer.
  6. Innes, Robert, 2004. "Enforcement costs, optimal sanctions, and the choice between ex-post liability and ex-ante regulation," International Review of Law and Economics, Elsevier, vol. 24(1), pages 29-48, March.
  7. Wood, LisaV. & Sappington, DavidE.M., 2004. "On the design of performance measurement plans in the telecommunications industry," Telecommunications Policy, Elsevier, vol. 28(11), pages 801-820, December.
  8. Bourreau, Marc & Dogan, Pinar, 2001. "Regulation and innovation in the telecommunications industry," Telecommunications Policy, Elsevier, vol. 25(3), pages 167-184, April.
  9. Diana Moss, 2008. "Antitrust Versus Regulatory Merger Review: The Case of Electricity," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 32(3), pages 241-261, May.
  10. David M. Kreps & Jose A. Scheinkman, 1983. "Quantity Precommitment and Bertrand Competition Yield Cournot Outcomes," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 326-337, Autumn.
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