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Scholars and enforcement officials debate the merits and implications of “behavioral antitrust” — the application of … rationality”) to antitrust law. Notwithstanding their many disagreements, both sides in this debate recognize that consumers — as … rationality of consumers poses for antitrust law three distinct, if related, challenges, only the first and most obvious of which …
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In an environment that features second-degree price discrimination, this paper fully characterizes the set of surplus divisions that can arise from all possible information consumers have about their valuation. By extending the techniques developed in a companion paper (Yang, 2019a), I show that...
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