Freedom to Trade and the Competitive Process
---- Acknowledgements -----
*This paper has been long in gestation, but at the time of its release Professor Farrell is on leave serving as Director of the Bureau of Economics, Federal Trade Commission. The opinions in this paper are those of the authors as individuals and are not intended to represent those of the Federal Trade Commission, or of any Commissioner, or of the National Bureau of Economic Research. We thank David Gilo, Fred Kahn, Louis Kaplow, Douglas Melamed, Ariel Porat, Ed Rock, Carl Shapiro and seminar participants at Tel Aviv University for helpful comments.