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http://ssrn.com/abstract=1612282
 
 

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Behavioral Antitrust and Merger Control


Gregory J. Werden


U.S. Department of Justice - Antitrust Division

Luke Froeb


Vanderbilt University - Strategy and Business Economics

Mikhael Shor


University of Connecticut Department of Economics

May 20, 2010

Journal of Institutional and Theoretical Economics, 2011, Vol. 167, No. 1, pp. 126-142
Vanderbilt Law and Economics Research Paper No. 10-14

Abstract:     
Scholarship on competition policy has begun to explore the implications of learning from behavioral research and to challenge the assumption of profit maximization at the heart of neoclassical economic theory of the firm. This scholarship is briefly reviewed, focusing on merger control. Prospects for basing merger control entirely on data from actual mergers or laboratory experiments are explored. Also explored are implications of behavioral research for merger assessment in consumer goods industries. The conclusion is that competition policy should continue to rely on neoclassical economic analysis based on the assumption of profit maximization.

Number of Pages in PDF File: 17

Keywords: Behavioral Economics, Antitrust, Mergers

JEL Classification: K 21, L41

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Date posted: May 20, 2010 ; Last revised: November 20, 2012

Suggested Citation

Werden, Gregory J. and Froeb, Luke and Shor, Mikhael, Behavioral Antitrust and Merger Control (May 20, 2010). Journal of Institutional and Theoretical Economics, 2011, Vol. 167, No. 1, pp. 126-142; Vanderbilt Law and Economics Research Paper No. 10-14. Available at SSRN: http://ssrn.com/abstract=1612282 or http://dx.doi.org/10.2139/ssrn.1612282

Contact Information

Gregory J. Werden (Contact Author)
U.S. Department of Justice - Antitrust Division ( email )
450 Fifth Street, NW
9th Floor
Washington, DC 20530
United States
202-307-6366 (Phone)
Luke M. Froeb
Vanderbilt University - Strategy and Business Economics ( email )
Nashville, TN 37203
United States
615-322-9057 (Phone)
615-343-7177 (Fax)

Mikhael Shor
University of Connecticut Department of Economics ( email )
341 Mansfield Road
Storrs, CT 06269
United States
HOME PAGE: http://www.mikeshor.com/
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