Law Commons^™

Antitrust As Regulation, Alan Devlin

San Diego Law Review

Antitrust, properly understood, plays a modest role in constraining commercial behavior. With respect to unilateral conduct, it does not prohibit monopoly or the fortuitous or quality-based acquisition of the same. It generally permits dominant companies to enjoy the fruits of their positions and does not speak to the propriety of excessive pricing. It does not impose service obligations on monopolists, nor does it generally limit their right to price discriminate amongst their consumers. It merely prohibits monopolists' artificial creation of impediments to competition--so-called exclusionary practices. With respect to concerted behavior, the law allows a vast swathe of private agreements, even …