Rodent Regatta

LEARNING SOMETHING NEW – ANTITRUST LAW

ANTITRUST WITHOUT NAIVETE: My most recent NYT column looks at the importance of considering ”transaction cost economics” before assuming that unusual firm structures or contracts are anticompetitive and launching antitrust crusades against them. Since I explain what TCE is in the column, I won’t repeat myself here. Paul Joskow’s paper, which inspired the column, can be downloaded from his website. Because there was so much background to explain, I had to give Joskow’s article short shrift, and I recommend reading itparticularly if you have an interest in antitrust law. Unlike some of the math-filled articles I write about, it’s not technical, and you’ll get an interesting overview of how economics and antitrust policy have interacted over the past several decades. [Posted 6/24.] [Virginia Postrel’s blog]