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The Consumer Welfare Standard and the Protect Competition Standard: A Comparison and Assessment

Author

Listed:
  • Mark Glick

    (University of Utah)

  • Gabriel A. Lozada

    (University of Utah)

  • Darren Bush

    (University of Houston Law School)

Abstract

We compare the Consumer Welfare Standard (CWS) and the Protect Competition Standard (PCS) in antitrust. While the two standards are often viewed as mutually exclusive alternatives, there is a larger overlap between the two standards than is usually acknowledged. We first delineate each, recount their respective origins and identify the main supporters of each view. We then compare the two standards across several dimensions: we analyze the practical differences between the two standards in merger and monopolization cases; analyze their fidelity to Congressional intent and to Supreme Court precedent; and discuss how the two standards are connected to normative economic theory. Finally, we discuss the social welfare implications of the differing goals of the two standards. It is our hope that this piece may assist policy makers, courts, and antitrust practitioners better understand the two standards and how they can be more effectively and conscientiously applied.

Suggested Citation

  • Mark Glick & Gabriel A. Lozada & Darren Bush, 2026. "The Consumer Welfare Standard and the Protect Competition Standard: A Comparison and Assessment," Working Papers Series inetwp248, Institute for New Economic Thinking.
    • Handle: RePEc:thk:wpaper:inetwp248
    DOI: 10.36687/inetwp248
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    Keywords

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    JEL classification:

    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices

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