This paper discusses the application of transaction cost economics (TCE) to the specification of antitrust legal rules and antitrust remedies and explains why the application of TCE analysis may lead to very different legal rules and remedies from approaches that ignore TCE considerations....

1. The fallacy of competition : markets and the movement of capital / John Weeks -- 2. The hidden history of competition and its implications / Jamee K. Moudud -- 3. Synthetic competition, global oil, and the cult of monopoly / Cyrus Bina -- 4. Catallactic competition, business organization, and...

An infinite-horizon, stochastic model of entry and exit with sunk costs and imperfect competition is constructed. Simple examples provide insights into: (1) the relationship between sunk costs and industry concentration, (2) entry when current profits are negative, and (3) the relationship...