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...

The study of oligopolistic industries lies at the heart of the field of industrial organization. The belief of an individual about the behavior of large firms in concentrated markets colors the individual's views on a broad range of antitrust and regulatory policies. These beliefs derive in turn...