Journal of Economic Perspectives: Vol. 14 No. 1 (Winter 2000)


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Antitrust Policy: A Century of Economic and Legal Thinking

Article Citation

Kovacic, William E., and Carl Shapiro. 2000. "Antitrust Policy: A Century of Economic and Legal Thinking." Journal of Economic Perspectives, 14(1): 43-60.

DOI: 10.1257/jep.14.1.43


This article follows the evolution of thinking about competition since the passage of the Sherman Act in 1890 as reflected by major antitrust decisions and research in industrial organization. We divide the U.S. antitrust experience into five periods and discuss each period's legal trends and economic thinking in three core areas of antitrust: cartels, cooperation, or other interactions among independent firms; abusive conduct by dominant firms; and mergers.

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Kovacic, William E. (George Washington U)
Shapiro, Carl (U CA, Berkeley)

JEL Classifications

L40: Antitrust Issues and Policies: General
K21: Antitrust Law


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