Use and Misuse of Empirical Methods in the Economics of Antitrust

Dennis Carlton, Mar 14, 2011

The application of economics to issues involving competition policy has always required a mixture of economic theory and empirical analysis. As any good lawyer knows, an economic analysis typically must rely on the facts of the industry under study to be credible. As a result, empirical analysis is often a crucial component of any economic analysis of competition issues. Of course, any empirical analysis has to be grounded in some theoretical structure. Over the last decades, there have been tremendous advances in both economic theory and empirical application

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