A Critical Evaluation of the Chicago School of Antitrust Analysis

The publication of this clinically analytical and trenchantly insightful volume is felicitously timed. By fortuitous coincidence, it comes at a time when the Chicago School enjoys a high-water mark of acceptance in U.S. legal circles, and at a time when the U.S. merger movement of the 1980s is crest...

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Bibliographic Details
Main Authors: Schmidt, I., Rittaler, J.B. (Author)
Format: eBook
Published: Dordrecht Springer Netherlands 1989, 1989
Edition:1st ed. 1989
Series:Studies in Industrial Organization
Online Access:
Collection: Springer Book Archives -2004 - Collection details see MPG.ReNa
Table of Contents:
  • I. The Perception of Competition as a Dynamic Process
  • II. Premises and Assumptions of the Chicago School’s Concept of Competition
  • 1. Rationality and Autonomy of Economic Agents
  • 2. Perfectly Competitive Markets
  • 3. Workability of the Market Mechanism
  • 4. Lang-run Effectiveness of the Market Process (Time Horizon
  • III. Antitrust Theory and Public Policy
  • 1. Market Structure Interference
  • 2. Market Behavior Interference
  • IV. The Chicago School’s Approach to Antitrust Theory
  • 1. Method of Competition Analysis
  • 2. Consumer Welfare as Chicago’s Antitrust Goal
  • V. Evaluating Concentration from the Chicago Point of View
  • 1. Corporate Size and Industry Concentration as Evidence of Superior Efficiency
  • 2. Causes of Monopoly Power
  • 3. Measuring Monopoly Power
  • 4. Determinants of Market Structure and the Effectiveness of Competition
  • 5. The Economic Effects of Mergers
  • 6. Anticoncentration Policy from the Chicago Point of View
  • VI. The Evaluation of Anticompetitive Behavior
  • 1. Explicit and Implicit Collusion
  • 2. Exclusionary Practices
  • 3. Tying Arrangements
  • 4. Predatory Pricing
  • 5. Resale Price Maintenance
  • VII. A Critical Résumé of the Chicago Approach to Antitrust Policy
  • 1. Underlying Assumptions and Methodology
  • 2. The Goals of Antitrust Policy
  • 3. The Role of Theory and Empirical Evidence
  • 4. Policy Recommendations
  • 5. The Chicago School Approach as a Basis for Antitrust Policy