Document Type
Article
Publication Date
1-17-2020
Abstract
This brief essay addresses the ambiguities in the meaning of “consumer welfare” in antitrust, exploring the differences between the Williamson, Bork, and current understanding of that term. After weighing the alternatives it argues that the consumer welfare principle in antitrust should seek out that state of affairs in which output is maximized, consistent with sustainable competition
Keywords
antitrust, consumer welfare, welfare tradeoff, williamson, bork, output
Publication Title
Revue Concurrentialiste
Repository Citation
Hovenkamp, Herbert J., "On the Meaning of Antitrust's Consumer Welfare Principle" (2020). All Faculty Scholarship. 2152.
https://scholarship.law.upenn.edu/faculty_scholarship/2152
Included in
Antitrust and Trade Regulation Commons, Economic Policy Commons, Economic Theory Commons, Industrial Organization Commons, Law and Economics Commons, Policy Design, Analysis, and Evaluation Commons
Publication Citation
Revue Concurrentialiste, Jan. 17, 2020