Monday, May 5, 2008
Posted by D. Daniel Sokol
Robert H. Lande of the University of Baltimore Law School and Neil W. Averitt of the FTC have a fascinating work on Using the 'Consumer Choice' Approach to Antitrust Law that offers a new approach to better address non-price competition.
ABSTRACT: The current paradigms of antitrust law - price and efficiency - do not work well enough. The price and efficiency paradigms are hard to fully understand and are not particularly transparent in their application. Moreover, in a disturbingly large number of circumstances they are unable to handle the important issue of nonprice competition. In this article we suggest replacing the older paradigms with the somewhat broader approach of consumer choice.