This is the first book to provide a systematic treatment of the economics of antitrust
(or competition policy) in a global context. It draws on the literature of industrial
organisation and on original analyses to deal with such important issues as cartels,
joint-ventures, mergers, vertical contracts, predatory pricing, exclusionary practices,
and price discrimination, and to formulate policy implications on these issues. The
interaction between theory and practice is one of the main features of the book, which
contains frequent references to competition policy cases and a few fully developed case
studies. The treatment is written to appeal to practitioners and students, to lawyers and
economists. It is not only a textbook in economics for first year graduate or advanced
undergraduate courses, but also a book for all those who wish to understand competition
issues in a clear and rigorous way. Exercises and some solved problems are provided.
Table of Contents
List of Figures
List of Tables
Preface
Acknowledgements
List of Abbreviations
1 Competition Policy: History, Objectives, and the Law
1
2 Market Power and Welfare: Introduction 39
3 Market Definition and the Assessment of Market Power
101
4 Collusion and Horizontal Agreements 137
5 Horizontal Mergers 231
6 Vertical Restraints and Vertical Mergers 302
7 Predation, Monopolisation, and Other Abusive Practices
411
8 A Toolkit: Game Theory and Imperfect Competition Models
533
Bibliography 581
References to Cases and Legislation 599
Index 605
704 pages, Paperback