Monopoly and Dominant Firms: Antitrust Economics and Policy Approaches
Lawrence J. White
New York University (NYU) - Leonard N. Stern School of Business, Department of Economics
NYU Working Paper No. 2451/31979
This chapter addresses issues in antitrust economics that related to the exercise of market power by a monopoly or by a dominant firm. We start by presenting the standard textbook treatments of monopoly and the dominant firm and then discuss the non-trivial issues of what constitutes a real-world monopoly (or dominant firm) and how to identify it. With that as a basis, we discuss five categories of antitrust actions that can be used to limit the exercise of market power by a monopoly or dominant firm.
Number of Pages in PDF File: 47
Keywords: Monopoly; dominant firm; market power, antitrust; Lerner Index; predation; exclusion
Date posted: September 5, 2013