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Economies as an Antitrust Defense: The Welfare Tradeoffs—Introduction to the Special Issue

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  • Stephen Martin

    (Purdue University)

Abstract

This special issue is occasioned by the 50th anniversary of the publication of Williamson’s (Am Econ Rev 58:18–36, 1968a) seminal analysis of the impact of mergers on market performance. The Introduction reviews Williamson’s work on the topic, and introduces the seven contributions to the special issue. Four are empirical; two are theoretical; and one focuses on policy.

Suggested Citation

  • Stephen Martin, 2019. "Economies as an Antitrust Defense: The Welfare Tradeoffs—Introduction to the Special Issue," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 55(3), pages 327-338, November.
    • Handle: RePEc:kap:revind:v:55:y:2019:i:3:d:10.1007_s11151-019-09715-4
    DOI: 10.1007/s11151-019-09715-4
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    References listed on IDEAS

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    1. Farrell, Joseph & Shapiro, Carl, 1990. "Horizontal Mergers: An Equilibrium Analysis," American Economic Review, American Economic Association, vol. 80(1), pages 107-126, March.
    2. Jonathan B. Baker, 2003. "The Case for Antitrust Enforcement," Journal of Economic Perspectives, American Economic Association, vol. 17(4), pages 27-50, Fall.
    3. Baumol, William J & Panzar, John C & Willig, Robert D, 1983. "Contestable Markets: An Uprising in the Theory of Industry Structure: Reply," American Economic Review, American Economic Association, vol. 73(3), pages 491-496, June.
    4. Williamson, Oliver E, 1969. "Economies as an Antitrust Defense: Reply," American Economic Review, American Economic Association, vol. 59(5), pages 954-959, December.
    5. Stephen Martin, 2019. "The Potential Compensation Principle and Constant Marginal Utility of Income," The Japanese Economic Review, Springer, vol. 70(3), pages 383-393, September.
    6. Scherer, F. M., 2012. "Merger Efficiencies and Competition Policy," Working Paper Series rwp12-048, Harvard University, John F. Kennedy School of Government.
    7. Philippe Aghion & Nick Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2005. "Competition and Innovation: an Inverted-U Relationship," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 120(2), pages 701-728.
    8. Richard A. Posner, 1975. "The Social Costs of Monopoly and Regulation," Springer Books, in: Roger D. Congleton & Kai A. Konrad & Arye L. Hillman (ed.), 40 Years of Research on Rent Seeking 2, pages 45-65, Springer.
    9. Stephen Martin, 2019. "The Kaldor–Hicks Potential Compensation Principle and the Constant Marginal Utility of Income," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 55(3), pages 493-513, November.
    10. Williamson, Oliver E, 1969. "Allocative Efficiency and the Limits of Antitrust," American Economic Review, American Economic Association, vol. 59(2), pages 105-118, May.
    11. Henry H. Villard, 1958. "Competition, Oligopoly, and Research," Journal of Political Economy, University of Chicago Press, vol. 66(6), pages 483-483.
    12. R. G. Lipsey & Kelvin Lancaster, 1956. "The General Theory of Second Best," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(1), pages 11-32.
    13. Somnath Das, 2019. "Effect of Merger on Market Price and Product Quality: American and US Airways," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 55(3), pages 339-374, November.
    14. Scherer, Frederic Michael, 2012. "Merger Efficiencies and Competition Policy," Scholarly Articles 9830356, Harvard Kennedy School of Government.
    15. Franco Mariuzzo & Peter L. Ormosi, 2019. "Post-merger Price Dynamics Matters, So Why Do Merger Retrospectives Ignore It?," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 55(3), pages 403-429, November.
    16. Charles J. Thomas, 2019. "A New Perspective on Entry in Horizontal Merger Analysis," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 55(3), pages 459-491, November.
    17. Raymond Deneckere & Carl Davidson, 1985. "Incentives to Form Coalitions with Bertrand Competition," RAND Journal of Economics, The RAND Corporation, vol. 16(4), pages 473-486, Winter.
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    More about this item

    Keywords

    Horizontal mergers; Merger policy; Oliver Williamson;
    All these keywords.

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L4 - Industrial Organization - - Antitrust Issues and Policies
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law

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