chap13 - Chapter 13 Antitrust and Regulation Antitrust...

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    Chapter 13: Antitrust and  Regulation
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    Antitrust policy Sherman Act (1890) Outlaws contracts and conspiracies in restraint of  trade Forbids monopolization Does not describe what is prohibited Clayton Act (1914) Bans price discrimination designed to limit  competition Prohibits tying and exclusive dealing contracts Federal Trade Commission Act (1914) Established the FTC to administer antitrust laws
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    Antitrust enforcement 1890-1914 – little enforcement Through 1945 – “rule of reason” – size  alone was not sufficient evidence of an  antitrust violation 1945 – Alcoa case –  per se  rule 1980s – return to rule of reason 1990s – stricter enforcement 2000 onward – less strict enforcement
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    Herfindahl index Herfindahl index = sum of squared  market shares (as percentages) (varies  from 0 to 10,000)
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chap13 - Chapter 13 Antitrust and Regulation Antitrust...

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