Lectures on Antitrust Economics

This title presents an account of the economics behind antitrust law, discussing recent developments in the areas of price fixing, horizontal mergers, and exclusionary vertical contracts.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.