Essays in antitrust economics

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Essays in antitrust economics

Oliver Williamson

B. Blackwell, 1987

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Includes index

Description and Table of Contents

Description

This book brings together the work of Oliver Williamson, an important contributor to the literature of industrial organization and anti-trust economics. Williamson's contributions have included work on vertical integration and non-standard contracting practices, the modern corporation, strategic inter-firm behaviour and economies as an anti-trust defence. By helping to promote a new understanding of complex forms of economic organization, public policy in each of these areas has been influenced and sometimes reformed as a consequence. The work deals successively with mergers, complex contracting practices, strategic behaviour and the impact of ideas on anti-trust enforcement. Applied price theory and the new apparatus of transaction cost economics are both brought to bear. With a focus on the theory and practice of anti-trust in the US, the book is of wider application to any country tackling the problem of the control of big business and monopoly power.

Table of Contents

  • I: Mergers
  • 1. Economies as an Antitrust Defense: The Welfare Trade-Offs
  • 2. The vertical Integration of Production: Market failure Considerations
  • 3. Antiturst Enforcement and the Modern Corporation
  • 4. Vertical Merger Guidelines: Interpreting the 1982 Reforms
  • II: Contracting
  • 5. The Economics of Antitrust: Transaction Cost Considerations
  • 6. Assessing Vertical Market Restrictions: Antitrust Ramifications of the Transactions Cost Approach
  • 7. Assessing Contrast
  • III: Strategic Behaviour
  • 8. Wage Rates as a Barrier to Entry: The Pennington Case in Perspective
  • 9. Predatory Pricing: A Strategic and Welfare Analysis
  • 10. Pretrial Uses of Economists: On the Use of Incentive Logic to Screen Predation
  • IV: Commentary
  • 11. Comments on the Political Economy of Antitrust
  • 12. Intellectual Foundations of Law and Economics: The Need for a Broader View
  • 13. Antitrust Enforcement: Where It Has Been
  • Where It Is Going.

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