This article examines the tortuous path from economic regulation, to deregulation and liberalization, to consolidation and collusion. It examines several elements of antitrust and competition law and policy, including mergers and acquisitions, coordination of pricing and service between...

Theory has often discussed the benefits of adopting a staged investment strategy in mergers and acquisitions when investments hold uncertain prospects. Specifically, firms should enter into a cooperative agreement, such as a strategic alliance, before they eventually decide to buy out a partner....