Document Type

Article

Publication Date

1-1-2001

Publication Title

Cato Journal

Volume

20

Issue Number

3

First Page

359

Last Page

378

Abstract

The purpose of this paper is to evaluate these new anti-merger instruments on the basis of economic theory and evidence. I first discuss how the economics of antitrust has developed over the years, with the intention of characterizing the intellectual inheritance of 1990s' antitrust regulators. Within this context, I then discuss each anti-merger instrument, how it has been applied in specific cases, and how it accords with underlying economic science. On the basis of these arguments, antitrust regulators should pause and reconsider the theoretical and empirical bases of applying unilateral effects and innovation markets to merger investigations.

Comments

Copyright © 2001 Cato Institute.

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