Antitrust and Regulation
---- Acknowledgements ----
Respectively, Professor of Economics, The University of Chicago Graduate School of Business and Research Associate, NBER, and Paul and Theo Leffmann Professor of Commercial Law, The University of Chicago Law School and Senior Fellow, The Computation Institute of the University of Chicago and Argonne Na-tional Laboratory. Carlton is currently serving as Deputy Assistant Attorney General in Antitrust Division at the Department of Justice. The views expressed here do not necessarily represent those of the Antitrust Division or Department of Justice. Picker thanks the Paul Leffmann Fund, The Russell J. Parsons Faculty Research Fund and the John M. Olin Program in Law and Economics at The University of Chicago Law School for their generous research support, and through the Olin Pro-gram, Microsoft Corporation and Verizon. We thank Andrew Brinkman for research assistance and Timothy Bresnahan, Richard Epstein, Jacob Gersen, Al Klevorick, Gregory Pelnar, Sam Peltzman, Richard Posner, Nancy Rose, and the participants of the NBER Conference on Regulation for their helpful comments. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.