Introduction to Harberger’s Monopoly and Resource Allocation–The Pioneering Article on Deadweight Loss and Empirical Measurement of the Social Costs of Monopoly
By Hill Wellford
Arnold Harberger´s 1954 article, Monopoly and Resource Allocation,brought empirical analysis of the social costs of monopoly into the mainstream of antitrust work. In the mid-twentieth century, the dominant mode of monopoly analysis in the United States (and therefore worldwide) was structural rather than empirical, and that structural approach supported a highly interventionist antitrust regime.
Read the entire article here.
This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.