Robert Crandall and Clifford Winston set out to review and enlarge the body of scholarly evidence on the effect of antitrust policy on consumer prices. They ignore, however, the great weight of evidence supporting the two core elements of antitrust policy - criminal prosecution of cartel...

Defending a challenged merger on the basis of synergies requires an analysis of the likely pass through to consumers of associated marginal cost reductions. This paper explores the nature and extent of that pass though with differentiated consumer products. Pass-through rates are shown to depend...