Public Choice Theory and Antitrust Policy

Document Type

Article

Journal/Book Title/Conference

Public Choice

Volume

142

Issue

2

Publication Date

2010

First Page

385

Last Page

406

Abstract

We survey the pioneering contributions of Robert Tollison to the theory and practice of antitrust law enforcement. Inspired by his period of service during Ronald Reagan’s first administration as Director of the Federal Trade Commission’s Bureau of Economics, Tollison was the first scholar to apply public choice reasoning to the question why antitrust frequently fails to achieve its stated goal of protecting consumers against unwarranted exercises of market power. In supplying evidence that the outcomes of antitrust processes are shaped more by special interests than by the public’s interest, he was instrumental in launching a wholly new research program.

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