Table of Contents

Part 1 Mergers: economies as an antitrust defense - the welfare trade-offs; the vertical integration of production - market failure considerations; antitrust enforcement and the modern corporation; vertical merger guidelines - interpreting the 1982 reforms. Part 2 Contracting: the economics of antitrust - transaction cost considerations; assessing vertical market restrictions - antitrust ramifications of the transaction cost approach; assessing contrast. Part 3 Strategic behaviour: wage rates as a barrier to entry - the Pennington case in perspective; predatory pricing - a strategic and welfare analysis; pretrial uses of economists - on the use of incentive logic to screen predation. Part 4 Commentary: comments on the political economy of antitrust; intellectual foundations of law and economics - the need for a broader view; antitrust enforcement - where it has been, where it is going.