Review (PDF) Lectures On Antitrust Economics (Cairoli Lectures)
Antitrust law regulates economic activity but differs in its operation from what is traditionally considered "regulation." Where regulation is often industry-specific and involves the direct setting of prices, product characteristics, or entry, antitrust law focuses more broadly on maintaining certain basic rules of competition. In these lectures Michael Whinston offers an accessible and lucid account of the economics behind antitrust law, looking at some of the most recent developments in antitrust economics and highlighting areas that require further research. He focuses on three areas: price fixing, in which competitors agree to restrict output or raise price; horizontal mergers, in which competitors agree to merge their operations; and exclusionary vertical contracts, in which a competitor seeks to exclude a rival.Antitrust commentators widely regard the prohibition on price fixing as the most settled and economically sound area of antitrust. Whinston's discussion seeks to unsettle this view, suggesting that some fundamental issues in this area are, in fact, not well understood. In his discussion of horizontal mergers, Whinston describes the substantial advances in recent theoretical and empirical work and suggests fruitful directions for further research. The complex area of exclusionary vertical contracts is perhaps the most controversial in antitrust. The influential "Chicago School" cast doubt on arguments that vertical contracts could be profitably used to exclude rivals. Recent theoretical work, to which Whinston has made important contributions, instead shows that such contracts can be profitable tools for exclusion. Whinston's discussion sheds light on the controversy in this area and the nature of those recent theoretical contributions. Sponsored by the Universidad Torcuato Di Tella
Series: Cairoli Lectures
Paperback: 264 pages
Publisher: The MIT Press; 50049th edition (January 25, 2008)
Language: English
ISBN-10: 0262731878
ISBN-13: 978-0262731874
Product Dimensions: 5.4 x 0.4 x 8 inches
Shipping Weight: 9.6 ounces (View shipping rates and policies)
Average Customer Review: 5.0 out of 5 stars See all reviews (2 customer reviews)
Best Sellers Rank: #766,116 in Books (See Top 100 in Books) #58 in Books > Law > Administrative Law > Antitrust #3331 in Books > Law > Business #5025 in Books > Textbooks > Business & Finance > Economics
Great Service! A really good book
Very helpful introduction to the economics of antitrust. I also really enjoy the writing style: clear and precise. I wish it is a larger volume though. I want to read more!
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