Antitrust law is the primary legal obstacle to price fixing, which is condemned by Section 1 of the Sherman Act. Firms that engage in price fixing may try to reduce their probability of antitrust liability in a number of ways. First, members of a price-fixing conspiracy go to great lengths to...

In Lundbeck the Eighth Circuit affirmed a district court’s judgment that a merger involving the only two drugs approved for treating a serious heart condition in infants was lawful. Although the drugs treated the same condition they were not bioequivalents. The Eighth Circuit approved the...

Part 1. Foundations: policy and measurement. The basic economics of antitrust -- History and ideology in antitrust policy -- Market power and market definition -- Part 2. The substance of antitrust. Antitrust policy toward collusion and oligopoly -- Joint ventures of competitors, concerted...