The Misguided Assault on the Consumer Welfare Standard in the Age of Platform Markets

46 Pages Posted:  

A. Douglas Melamed

Stanford Law School

Nicolas Petit

University of Liege - School of Law; Hoover Institution; University of South Australia - School of Law

Date Written: September 12, 2018

Abstract

This paper discusses the recent scholarly and policy attack against the consumer welfare (“CW”) standard. It shows that the CW standard is not the explanatory factor for perceived low levels of antitrust enforcement in the US. The arguments made against the CW standard reflect a misunderstanding of its purpose and effects. Moreover, any deviation from the CW framework would likely weaken antitrust enforcement in the platform age.

Keywords: Antitrust, competition law, consumer welfare, monopoly, market power, platform

JEL Classification: K20, K21, L41, L4, L10, L20

Suggested Citation

Melamed, A. Douglas and Petit, Nicolas, The Misguided Assault on the Consumer Welfare Standard in the Age of Platform Markets (September 12, 2018). Available at SSRN: https://ssrn.com/abstract=3248140

Doug Melamed

Stanford Law School ( email )

559 Nathan Abbott Way
Stanford, CA 94305-8610
United States

Nicolas Petit (Contact Author)

University of Liege - School of Law ( email )

B-4000 Liege
Belgium

Hoover Institution ( email )

Stanford, CA 94305
United States

University of South Australia - School of Law ( email )

GPO Box 2471
Adelaide SA 5001
Australia

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