Old lady charm: a comment
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.
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Department of Economics, Working Paper Series
qt01s8v4v3, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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- Giocoli, Nicola, 2010. "Games judges don't play: predatory pricing and strategic reasoning in US antitrust," MPRA Paper 33810, University Library of Munich, Germany.
- Giocoli, Nicola, 2012. "Old lady charm: explaining the persistent appeal of Chicago antitrust," MPRA Paper 39244, University Library of Munich, Germany.
- Reder, Melvin W, 1982. "Chicago Economics: Permanence and Change," Journal of Economic Literature, American Economic Association, vol. 20(1), pages 1-38, March.
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