John McGee's 1958 paper, Predatory Price Cutting: The Standard Oil (NJ) Case, has had an astonishing influence on both antitrust policy in the United States and economic lore. McGee argued that predatory pricing is irrational and his analysis of the Standard Oil Company Matter, decided in 1911,...

The Supreme Court in 1911, on the occasion of the first major test of the Sherman Act, ordered the dissolution of the Standard Oil Trust. In his 1958 paper John McGee argued that predatory pricing is, in general, irrational and, relying solely on the information in the Trial Record related to...