A reform movement is underway in antitrust. Citing prior enforcement failures, deviations from the original intent of the antitrust laws, and overall rising levels of sector concentration, some are seeking to fundamentally alter or altogether replace the current consumer welfare standard, which...

This Article critique the role that the partial equilibrium trade-off paradigm plays in the debate over the definition of “consumer welfare” that courts should employ when developing and applying antitrust doctrine. The paper contends that common reliance on the paradigm distorts the debate...

The U.S. health care system is organized around markets. There has, however, been ongoing concern about the functioning of these markets, so much so that some have despaired of these markets working at all. The policy response to this concern has been disjointed. Health care markets are subject...

The U.S. health care system is organized around markets. There has, however, been ongoing concern about the functioning of these markets, so much so that some have despaired of these markets working at all. The policy response to this concern has been disjointed. Health care markets are subject...

Recently there has been a notable increase in interest in antitrust law in much of the world. This chapter discusses antitrust policy toward horizontal mergers, the area of antitrust that has seen some of the most dramatic improvements in both economic tools and the application of economics in...

In antitrust enforcement as in cost-benefit analysis, neoclassical economics may be interpreted as arguing for the use of a quot;total welfarequot; standard whose implementation treats transfers as welfare-neutral. Several recent papers call for antitrust agencies to move in the direction of...

In this comprehensive review of ex-post merger studies price effects of horizontal transactions are evaluated. By combining and further analyzing the results of 52 retrospective studies on 82 mergers or merger-like transactions it can be shown that the industry alone is no strong indication for...

Since the publication of Robert Bork's The Antitrust Paradox, lawyers, judges, and many economists have defended “Consumer welfare” (CW) as a standard for decisions about antitrust goals and enforcement priorities. This paper argues that the CW is actually an empty concept and is an...