competition policy, undertakes partial equilibrium analysis in a single sector, often with a fixed number of firms. This article … examines competition policy in a simple, multi-sector, general equilibrium model with free entry and exit. Even partial … equilibrium analysis yields some lessons, such as that accounting for free entry often makes strengthening competition policy more …

Economic analysis of competition regulation is most developed in the domain of horizontal mergers, and modern agency … employed despite the presence of substantial distortions (many due to imperfect competition) in many sectors of the economy …