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Old lady charm: a comment

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  • Signorino, Rodolfo

Abstract

I start from Nicola Giocoli’s acute rational reconstruction of current US antitrust debate which shows that there really is no shortage of plausible explanations to the Chicago persistent appeal puzzle. Each explanation, taken in isolation, is, at best, only partial. In my view, the persistent appeal of Chicago antitrust owes much to the enduring grip of the equilibrium end-state notion of competition within top US Economics Departments and to the (alleged) resilience of market competition, absent entry/exit barriers, in the face of Type II Errors committed by antitrust Agencies.

Suggested Citation

  • Signorino, Rodolfo, 2012. "Old lady charm: a comment," MPRA Paper 39211, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:39211
    as

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    File URL: https://mpra.ub.uni-muenchen.de/39211/1/MPRA_paper_39211.pdf
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    References listed on IDEAS

    as
    1. Nicola Giocoli, 2014. "Games judges don't play: predatory pricing and strategic reasoning in US antitrust," Supreme Court Economic Review, University of Chicago Press, vol. 21(1), pages 271-330.
    2. Gilbert, Richard J, 1989. "The Role of Potential Competition in Industrial Organization," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 107-127, Summer.
    3. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
    4. Reder, Melvin W, 1982. "Chicago Economics: Permanence and Change," Journal of Economic Literature, American Economic Association, vol. 20(1), pages 1-38, March.
    5. Nicola Giocoli, 2015. "Old lady charm: explaining the persistent appeal of Chicago antitrust," Journal of Economic Methodology, Taylor & Francis Journals, vol. 22(1), pages 96-122, March.
    6. Kaldor, Nicholas, 1972. "The Irrelevance of Equilibrium Economics," Economic Journal, Royal Economic Society, vol. 82(328), pages 1237-1255, December.
    7. Steven G. Medema, 2010. "Adam Smith and the Chicago School," Chapters,in: The Elgar Companion to the Chicago School of Economics, chapter 3 Edward Elgar Publishing.
    8. repec:elg:eechap:13938_6 is not listed on IDEAS
    9. Samuelson, Paul A, 1978. "The Canonical Classical Model of Political Economy," Journal of Economic Literature, American Economic Association, vol. 16(4), pages 1415-1434, December.
    10. George J. Stigler, 1957. "Perfect Competition, Historically Contemplated," Journal of Political Economy, University of Chicago Press, vol. 65, pages 1-1.
    11. Bailey, Elizabeth E, 1981. "Contestability and the Design of Regulatory and Antitrust Policy," American Economic Review, American Economic Association, vol. 71(2), pages 178-183, May.
    12. Neri Salvadori & Rodolfo Signorino, 2016. "Competition," Chapters,in: Handbook on the History of Economic Analysis Volume III, chapter 6, pages 70-81 Edward Elgar Publishing.
      • Salvadori, Neri & Signorino, Rodolfo, 2011. "Competition," MPRA Paper 38387, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Chicago school of law and economics; Type I and Type II Errors; entry barriers and horizontal merger regulation;

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • L4 - Industrial Organization - - Antitrust Issues and Policies

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