In this accessible yet rigorous textbook, Patrick McNutt presents a clear and refreshing approach to a wide range of topics in law, economics and antitrust. The issues covered include duty and obligation, contracting, liability, property rights, efficient entry, compensation, oligopoly pricing, issues in strategic antitrust and merger analysis.
Using a selection of case studies where appropriate, and examples based in game theory, the book examines these issues from both a law and economics and a microeconomics perspective. Emphasis is placed on a thorough assessment of the economic and legal arguments, blending the rigours of microeconomic analysis with common law standards. The analysis contained in the book will not only review, and indeed adapt neoclassical economic analysis but will also apply some of the methodology from the relatively new paradigm known as `law and economics' to many of the issues. The book also addresses the increasing overlap between emerging approaches in public choice and in law and economics.
Practitioners in competition law and regulation of utilities will draw great value from this original and pertinent volume, as will scholars in the areas of regulation, competition law, competition policy and law and economics.
Patrick A. McNutt, Business Consultant based in Dublin, ROI and Visiting Fellow, Alliance Manchester Business School, UK
Contents: Preface 1. Law, Economics and Antitrust 2. Ownership and Property Rights 3. The Law and Economic of Contracting 4. Liability and Law's Indeterminacy 5. Liberties, Essential Facilities and Workable Competition 6. Non-negativity and Obligation 7. Regulatory Signalling, Labelling and Credible Threats 8. Competitive Harm and Public Policy 9. Non-market Economics 10. The Reach of the Law 11. Types of Competition: Scramble, Combat and Contest 12. The Value of Competition Law Postscript: Recent Developments in Competition Law and Related Issues Bibliography Index