Lecture24_MarketDefinition_Econ121_Fall2010

Lecture24_MarketDefinition_Econ121_Fall2010 - Lecture 24...

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Click to edit Master subtitle style  2/2/11 Lecture 24 Antitrust: Market Definition Econ 121: Industrial Organization UC Berkeley Fall 2010 Prof. Cristian Santesteban
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 2/2/11 Introduction - Antitrust What is antitrust? Antitrust Law versus Antitrust Economics Antitrust Law: Tool of the government to limit the market power exercised by firms and to control how firms can compete with one another. Goal of Antitrust Law : to promote economic efficiency for the benefit of
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 2/2/11 Introduction - Antitrust Problem for economists: not easy to determine what firm conduct results in inefficient outcomes. Example: suppose two firms merge and the resulting reduction in competition causes prices to rise. That is bad.
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 2/2/11 Introduction - Antitrust But suppose also that the merged entity is able to develop a new and better product or provides the same product but offers better services around that product .
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