10 Pages Posted: 15 Feb 2011
Date Written: February 8, 2011
Although antitrust courts sometimes stress the competitive process, they have not deeply explored what that process is. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers forming improving coalitions. Much of antitrust can be seen as prohibiting firms’ attempts to restrain improving trade between their rivals and customers. In this way, antitrust protects firms’ and customers’ freedom to trade to their mutual betterment.
Keywords: Antitrust, Industrial Organization, Competition Policy, Law and Economics, Trade Regulation, Trade Restraints, Monopoly
JEL Classification: D2, D4, K2, L2,L4, L5, M2
Suggested Citation: Suggested Citation
Edlin, Aaron S. and Farrell, Joseph, Freedom to Trade and the Competitive Process (February 8, 2011). UC Berkeley Public Law Research Paper No. 1761581. Available at SSRN: https://ssrn.com/abstract=1761581 or http://dx.doi.org/10.2139/ssrn.1761581