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Antitrust Economics Meets Antitrust Psychology: A View from the Firms

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  • John Mayo
  • Mirjam Schiffer

Abstract

Many theoretical and empirical studies have examined the effects of antitrust policies on competition from the perspective of consumer welfare. In contrast, this paper examines antitrust policy impacts by exploring the perspective of firms subject to varying degrees of antitrust exposure. Specifically we draw upon a large, firm-level, worldwide survey of firms that allows us to address fundamental questions regarding the magnitude of anticompetitive abuses - as perceived by firms - and the consequence of the establishment of competition policies on these perceptions. Thus, while traditional antitrust economics seeks to collect data on market structure, firm conduct and policy interventions in markets to gain insights into the role of competition policies, this paper adopts the novel, essentially psychological, approach of examining the magnitude of anticompetitive threats as perceived by firms and how these perceptions vary depending on their market and policy environments.

Suggested Citation

  • John Mayo & Mirjam Schiffer, 2006. "Antitrust Economics Meets Antitrust Psychology: A View from the Firms," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 13(2), pages 281-306.
    • Handle: RePEc:taf:ijecbs:v:13:y:2006:i:2:p:281-306
    DOI: 10.1080/13571510600784821
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    References listed on IDEAS

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    3. U.S. Department of Justice Antitrust Division, 2001. "Competition Law in Central and Eastern Europe: Five Years Later," Industrial Organization 0111001, University Library of Munich, Germany.
    4. Weingast, Barry R & Moran, Mark J, 1983. "Bureaucratic Discretion or Congressional Control? Regulatory Policymaking by the Federal Trade Commission," Journal of Political Economy, University of Chicago Press, vol. 91(5), pages 765-800, October.
    5. Dutz, Mark A. & Vagliasindi, Maria, 2000. "Competition policy implementation in transition economies: An empirical assessment," European Economic Review, Elsevier, vol. 44(4-6), pages 762-772, May.
    6. Jonathan B. Baker, 1999. "Policy Watch: Developments in Antitrust Economics," Journal of Economic Perspectives, American Economic Association, vol. 13(1), pages 181-194, Winter.
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