Scholarship on competition policy has begun to explore the implications of learning from behavioral research and to challenge the assumption of profit maximization at the heart of neoclassical economic theory of the firm. This scholarship is briefly reviewed, focusing on merger control....

This note demonstrates that random delivery of services of factors of production is a ubiquitous source of increasing returns to scale with otherwise constant returns technology. It is also shown that such economies must eventually be exhausted -- that returns to scale are asymptotically...