Lectures on Antitrust Economics (Cairoli Lectures)

263 Pages·2006·2.51 MB·English

by  Michael D. Whinston

efficiencies
horizontal mergers
erger guidelines
market power
Lectures on
Antitrust Economics
externalities
merger simulation
price fixing
heap talk
exclusionary contracts
Michael D. Whinston
TheCairoliLectures
Lectures on Antitrust
Economics
CairoliLectureSeries
FedericoSturzenegger,editor
LaurenceJ.Kotlikoff,GenerationalPolicy
MichaelD.Whinston,LecturesonAntitrustEconomics
Barry Eichengreen, Global Imbalances and the Lessons of
BrettonWoods
Lectures on Antitrust
Economics
MichaelD.Whinston
TheCairoliLectures
UniversidadTorcuato
DiTella
TheMITPress
Cambridge,Massachusetts
London,England
(2006MassachusettsInstituteofTechnology
Allrightsreserved.Nopartofthisbookmaybereproducedinanyformby
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nessorsalespromotionaluse.Forinformation,pleaseemailspecial_sales@
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ThisbookwassetinPalatinoon3B2byAscoTypesetters,HongKongand
wasprintedandboundintheUnitedStatesofAmerica.
LibraryofCongressCataloging-in-PublicationData
Whinston,MichaelDennis.
Lecturesonantitrusteconomics/MichaelD.Whinston.
p. cm.
‘‘Basedonthe2001Cairolilectures’’—Datasheet.
Includesbibliographicalreferencesandindex.
ISBN0-262-23256-1(alk.paper)
1.Antitrustlaw—Economicaspects—UnitedStates. I.Title.
HD2758.5.W45 2006
338.8020973—dc22 2006041955
10 9 8 7 6 5 4 3 2 1
Contents
SeriesForeword vii
Preface xi
1 Introduction 1
2 PriceFixing 15
3 HorizontalMergers 57
4 ExclusionaryVerticalContracts 133
Notes 199
References 221
Index 235

Series Foreword
Ricardo Cairoli (1921–1998) was a successful businessman
and a committed public official, who, throughout his career
devoted himself to enhancing the well-being of Argentina’s
society. In 1991, he founded Capital Markets Argentina,
one of the major independent investment corporations
in the country, offering services in brokerage and asset
management. Since its inception, the corporation has been
involved in numerous philanthropic activities. Currently
his wife, Mrs. Haydee Morteo de Cairoli, and his children,
Graciela and Pablo, continue to support higher education,
sponsoring, among other initiatives, the Capital Markets
Corporation Conferences in Business Economics. The con-
ferences are organized by the Universidad Torcuato Di
Tella, a private university founded in 1991, which rapidly
established itself as a center of excellence for education and
researchinthesocialsciencesinLatinAmerica.Therealiza-
tion and publication of the conference lectures represents
the joint commitment of Capital Markets Argentina and
the Universidad Torcuato Di Tella to the advancement of
knowledge.

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andtothememoryofmymother,
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