Farrell, Joseph; Katz, Michael L - Institute of Business and Economic Research (IBER), … - 2006
for antitrust. This debate misses two critical issues. First, antitrust is not straightforwardly welfarist—it does not … maximize but protects, and it does not forbid all actions that seem likely to lower some welfare measure. Rather, antitrust …. Mergers, for instance, are proposed by the merging parties, reviewed and perhaps challenged by antitrust agencies, and …