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...

Der Blick auf eine angemessene Wettbewerbsordnung hat sich im Laufe der Jahrzehnte vielfach gewandelt. Dazu trugen sowohl der technologische Wandel als auch ein tieferes Verständnis der ökonomischen Zusammenhänge bei. Aktuell muss die Wettbewerbspolitik das Gesetz gegen...

An antitrust authority deters collusion using fines and a leniency program. Unlike in most of the earlier literature, our firms have imperfect cumulative evidence of the collusion. That is, cartel conviction is not automatic if one firm reports: reporting makes conviction only more likely, the...

We briefly review the relevant economic theories and legal treatment of vertical restraints, and especially focus on the 1977 landmark case of Sylvania and its possible influence on China's antitrust enforcement on vertical restraints. China's competition policy, and particularly its...

An antitrust authority deters collusion using fines and a leniency program. It chooses the probability of an investigation. Firms pick the degree of collusion: The more they collude, the higher are profits, but so is the probability of detection. Firms thus trade-off higher profits against...

The Rule of Reason, which has come to dominate modern antitrust law, allows defendants the opportunity to justify their conduct by demonstrating “procompetitive” effects. Seizing the opportunity, defendants have begun offering increasingly numerous and creative explanations for their...

Before there was Hipster antitrust there was Woodstock antitrust. Flourishing in the decade from 1969 to 1979, Woodstock antitrust sought to take on the central issues in antitrust. Looking back we can see a program of enforcement and proposed legislation that constituted a radical effort to fix...

This paper explores the concept of vertical restraints or restrictions. It includes references to the competition law regimes of the European Union (EU), United States (US), and the People's Republic of China, as well as the key case law. It is part of the Concurrences' Global Dictionary of...