reconciled with principles of oligopoly theory. This article (1) presents a fundamental reconceptualization of our understanding …, conventional formulations tend to impose liability in cases with lower deterrence benefits and greater chilling costs than those …

Market power is the most important determinant of liability in competition law cases throughout the world. Yet … market power have the same probative force? Or even influence optimal liability determinations in the same direction? This … sometimes disfavor liability. This gulf between conventional wisdom and correct understanding suggests the need to redirect …

empirics and policy. On the other hand, market power is often probative of the desirability of liability, yet the typically … consequences of correct and mistaken imposition of liability in order to identify the various ways and senses in which market power …