This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...

"Harnessing the tension between "equity" and "efficiency" and achieving the optimal equilibrium between these policy objectives, has long been one of the major questions bedevilling economics and, more generally, political philosophy in liberal democracies but also beyond."

The latest frontier of the essential facility doctrine under EU competition law is the use of antitrust rules to impose on dominant firms a duty to invest in infrastructure development. While a genuine lack of capacity has traditionally been considered an objective justification for a refusal to...

Inequality concerns in antitrust could justify market power in return for a fairer allocation by weighing the consumer welfare of disadvantaged groups more heavily. A simple example illustrates how seeking distributive justice through lenient antitrust enforcement is effective nor efficient....