Economics, Econometrics and Finance
4 years ago

New Antitrust Approach Redefines Transaction Costs Impact on Competition

Hastings law journal
Reframing Antitrust in Light of Scientific Revolution: Accounting for Transaction Costs in Rule of Reason Analysis
Alan J. Meese

Paper Summary

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The article discusses how modern rule of reason analysis can evaluate agreements that reduce transaction costs. It distinguishes between technological and non-technological transaction costs, with the former involving bargaining and information costs, and the latter resulting from departures from perfect competition leading to opportunism risks.