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Heterodox Antitrust Economics

10 Pages Posted: 7 Sep 2017  

James Ming Chen

Michigan State University - College of Law

Date Written: September 4, 2017

Abstract

Antitrust economics is a discipline developed by academic economists in concert with the refinement of per se rules and the rule of reason by the Supreme Court. Distinct bodies of antitrust thought — such as the Chicago school, the post-Chicago school, and behavioral antitrust economics — have emerged. These competing schools of thought fall short of capturing the full complexity of economic conduct. Antitrust law cannot and should not seek to replicate often conflicting insights devised by economists. Rather, what antitrust economics can accomplish is at once more modest and more helpful. The laudable resort to economic theory in any of its guises, behavioral or otherwise, should never become detached from economic fundamentals.

Antitrust economics and cognate branches of the behavioral sciences should strive to speak of human conduct exactly as it is observed — neither a special magic and accursed, nor preternaturally blessed, but merely here.

Keywords: antitrust, economics, Chicago school, post-Chicago, behavioral economics

Suggested Citation

Chen, James Ming, Heterodox Antitrust Economics (September 4, 2017). Available at SSRN: https://ssrn.com/abstract=3032205

James Ming Chen (Contact Author)

Michigan State University - College of Law ( email )

318 Law College Building
East Lansing, MI 48824-1300
United States

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