In this article we distinguish between two types of single-firm conduct. The first, which we call quot;extraction,quot; is conduct engaged in by the firm to capture surplus from what the firm has itself created independent of the conduct's effect on rivals. The second, which we call...

This paper presents a simple theoretical model of the effects of airline code sharing and antitrust immunity between noncompeting carriers. When carriers without a code sharing agreement or immunized alliance price a route, a double marginalization problem arises. Immunized alliances internalize...