Analysis of efficiency in legal fields from contracts to competition assumes that a consumer's demand depends on the …

In mainstream antitrust law the nature of economic efficiency has not been investigated in great depth. Such an … measures generally do not. (2) Thus an efficiency-based approach to antitrust should weigh consumer losses much more heavily … involves both market power and efficiency effects. The fact is that consumer surplus measures of losses underestimate consumer …

important efficiency consequences — like a bare public announcement about present or even future prices — courts do not treat …

adequate response to markets without prices. Modern antitrust law is firmly grounded in neoclassical economics — price theory …. Steeped in price theory, preeminent antitrust theorists have unsurprisingly urged that without prices there can be no markets … the broadcast-radio industry as a result of deregulation in the late 1990s provides one example: during hundreds of merger …

We show that the presence of a strategic tax policy increases the incentive for a horizontal merger compared to the … a horizontal merger that has been ignored in the existing literature. In contrast to the usual belief, we also show that … a horizontal merger may benefit the consumers and the society. …