The Chicago School
This chapter considers the Chicago school of antitrust analysis. It provides the accounts of Edward Levi, Aaron Director, George Stigler, Robert Bork, and Richard Posner as representatives of the progression and divergence of ideas within the Chicago school. It analyzes the Chicago school's broad theoretical attack on interventionist antitrust thinking. It discusses the economic assumptions underlying antitrust treatment of specific competitive practices such as tying, vertical integration, and predatory pricing. It also examines the notion of antitrust policy becoming increasingly the province of specialized bureaucrats, lawyers, and economists working on discrete and technical economic and policy problems.
Chicago School, antitrust analysis, Edward Levi, Aaron Director, George Stigler, Robert Bork, Richard Posner, tying, vertical integration, Predatory Pricing
The Making of Competition Policy: Legal and Economic Sources
Hovenkamp, Herbert, "The Chicago School" (2013). Book Chapters. 62.