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Freedom to Trade and the Competitive Process

Author

Listed:
  • Edlin, Aaron
  • Jennings, Richard
  • Farrell, Joseph

Abstract

Although 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.

Suggested Citation

  • Edlin, Aaron & Jennings, Richard & Farrell, Joseph, 2011. "Freedom to Trade and the Competitive Process," Competition Policy Center, Working Paper Series qt5gx9n3tf, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley.
  • Handle: RePEc:cdl:compol:qt5gx9n3tf
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    References listed on IDEAS

    as
    1. Roman Inderst & Greg Shaffer, 2010. "Market-share contracts as facilitating practices," RAND Journal of Economics, RAND Corporation, vol. 41(4), pages 709-729.
    2. Sjostrom, William, 1989. "Collusion in Ocean Shipping: A Test of Monopoly and Empty Core Model s," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1160-1179, October.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Antitrust; Industrial Organization; Competition Policy; Law and Economics; Trade Regulation; Trade Restraints; Monopoly JEL Class: D2; 4; K2; L2; 4; 5; M2.; Law; Business; Other Business;

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • 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; Personnel Economics - - Business Economics

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