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How Many Cheers for Antitrust 100 Years

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  • Demsetz, Harold

    (Published in "Classics of economics" series)

Abstract

This article describes the ambiguity inherent is US antitrust policy, arguing it is necessary consequence of the true, but not commonly understood, task of antitrust policy. Competition is multidimensional in form, and its different dimensions cannot be maximized together. Therefore, antitrust policy cannot maximize competition per se, but aims to achieve an efficient mix of competitive forms. Inadequate knowledge of the technical and preference tradeoffs involved guarantees that question about appropriate competitive mix will remain open to debate.

Suggested Citation

  • Demsetz, Harold, 2010. "How Many Cheers for Antitrust 100 Years," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 189-202.
    • Handle: RePEc:rnp:ecopol:1043
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    File URL: https://repec.ranepa.ru/rnp/ecopol/1043.pdf
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    Cited by:

    1. Nicola Giocoli, 2013. "Games judges don't play: predatory pricing and strategic reasoning in US antitrust," Supreme Court Economic Review, University of Chicago Press, vol. 21(1), pages 271-330.
    2. Michael Utton, 2000. "Fifty Years of U.K. Competition Policy," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 16(3), pages 267-285, May.
    3. ANDREW R. Dick, 1993. "Japanese Antitrust: Reconciling Theory And Evidence," Contemporary Economic Policy, Western Economic Association International, vol. 11(2), pages 50-61, April.
    4. Miller, Tracy, 2021. "Evaluating Arguments for Antitrust Action against Tech Companies," Annals of Computational Economics, George Mason University, Mercatus Center, May.

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