Scholarship on competition policy has begun to explore the implications of learning from behavioral research and to challenge the assumption of profit maximization at the heart of neoclassical economic theory of the firm. This scholarship is briefly reviewed, focusing on merger control....

The rule of reason is the standard for testing whether a restraint of trade violates the Sherman Act. The thesis of this article is that the only issue under the rule of reason is the impact of a restraint on the competitive process; the Sherman Act does not employ a welfare standard. This...

This essay examines the meaning of Section 2 of the Sherman Act, which prohibits monopolization, under the textualist guidance of Reading Law by the late Justice Scalia and Bryan Garner. This essay compiles the background material early decisions could have drawn upon and finds that to...

The European Commission sought public comment on a revision of its Notice on the definition of the relevant market. Among other things, this contribution advises the Commission to: acknowledge the analytic purpose served by the relevant market in competitive assessment; apply the hypothetical...