Behavioral Economics and U.S. Antitrust Policy
23 Pages Posted: 17 Jul 2015
Date Written: July 15, 2015
Modern day antitrust policy is grounded firmly in neoclassical economics. It is important, however, to test whether the modelling assumptions accord with the facts. It is also important to assess whether behavior that deviates from the conventional assumptions is systematic and persistent. If the relevant facts suggest that consumers or firms might behave in ways that depart from conventional assumptions, then private parties, government agencies and the courts should consider alternate economic models that account appropriately for the observed behavior.
Keywords: Antitrust, Behavioral Economics, Competition Policy, Mergers
JEL Classification: D21
Suggested Citation: Suggested Citation