Firm strategies cannot be analyzed without taking into consideration the legal framework which governs the relationships between economic agents, especially competition law. As a consequence, firms have to maneuver through a complex universe, taking account of both the rules of the economic game...

The success of the Standard Oil monopoly is not well understood. Standard Oil first developed a monopoly over the refining of crude oil, though later extended its control to gathering pipelines, later still to trunk pipelines (from the western Oil Regions to East Coast ports) and, even later,...

Competition policy aims to prevent anticompetitive agreements and mergers, limiting the abusive exercise of market power. The formulation and application of this policy presents significant challenges, which include showing that proposed mergers are anticompetitive, proving that firms are...