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NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Randal Picker

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Working Papers and Chapters

January 2013Antitrust and Regulation
with Dennis W. Carlton
in Economic Regulation and Its Reform: What Have We Learned?, Nancy L. Rose, editor
Since the passage of the Interstate Commerce Act (1897) and the Sherman Act (1890), regulation and antitrust (competition policy) have operated as competing mechanisms to control competition. Regulation produced cross-subsidies and favors to special interests, but specified prices and rules of mandatory dealing. Antitrust promoted competition without favoring special interests, but could not formulate rules for particular industries. Antitrust and regulation can be viewed as complements, where policymakers assign control of competition to courts or regulatory agencies based on their relative strengths. And antitrust may act as a constraint on what regulators can do. Controlling competition is a particular challenge in network industries, where mediating “vertical” interactions across...
February 2007Antitrust and Regulation
with Dennis W. Carlton: w12902
Since the passage of the Interstate Commerce Act (1897) and the Sherman Act (1890), regulation and antitrust have operated as competing mechanisms to control competition. Regulation produced cross-subsidies and favors to special interests, but specified prices and rules of mandatory dealing. Antitrust promoted competition without favoring special interests, but couldn't formulate rules for particular industries. The deregulation movement reflected the relative competencies of antitrust and regulation. Antitrust and regulation can also be viewed as complements in which regulation and antitrust assign control of competition to courts and regulatory agencies based on their relative strengths. Antitrust also can act as a constraint on what regulators can do. This paper uses the game-theoretic ...

Published: Antitrust and Regulation, Dennis W. Carlton, Randal C. Picker. in Economic Regulation and Its Reform: What Have We Learned?, Rose. 2014

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

 
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