Consumer Choice as the Ultimate Goal of Antitrust

Abstract:     
The mission of the antitrust laws need to be clarified, and this article asserts that the best way to do this is to interpret and enforce these laws in terms of consumer choice. This reformulation is necessary due to uncertainty and instability that exists in the field. This article will 1. define the consumer choice approach to antitrust or competition law and show how it differs from other approaches; 2. show that the antitrust statutes and theories of violation embody a concern for optimal levels of consumer choice; 3. show that the antitrust case law embodies a concern for optimal levels of consumer choice; 4. present evidence of the new paradigm: United States v. Microsoft; 5. argue that non-price competition should become a higher priority for antitrust enforcement; 5. Discuss consumer choice and the media.

Keywords: antitrust competition law, consumers, consumer choice, non-price competition

JEL Classifications: K21, K19, K39, K49, L40, L49

Working Paper Series