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A Reputational View Of Antitrust’S Consumer Welfare Standard, Murat C. Mungan, John M. Yun
A Reputational View Of Antitrust’S Consumer Welfare Standard, Murat C. Mungan, John M. Yun
Faculty Scholarship
A reform movement is underway in antitrust. Citing prior enforcement failures, deviations from the original intent of the antitrust laws, and overall rising levels of sector concentration, some are seeking to fundamentally alter or altogether replace the current consumer welfare standard, which has guided courts over the past fifty years. This policy push has sparked an intense debate over the best approach to antitrust law enforcement. In this Article, we examine a previously unexplored potential social cost from moving away from the consumer welfare standard: a loss in the information value to the public from a finding of liability. A …
Optimal Standards Of Proof In Antitrust, Murat C. Mungan, Joshua Wright
Optimal Standards Of Proof In Antitrust, Murat C. Mungan, Joshua Wright
Faculty Scholarship
Economic analyses of antitrust institutions have thus far focused predominantly on optimal penalties and the design of substantive legal rules, and have largely ignored the standard of proof used in trials as a policy tool in shaping behavior. This neglected tool can play a unique role in the antitrust context, where a given firm may have the choice to engage in exceptional anticompetitive or procompetitive behavior, or simply follow more conventional business practices. The standard of proof used in determining the legality of a firm’s conduct affects not only whether the firm chooses to engage in pro- versus anticompetitive behavior, …