Barriers to Entry

Horne A. , The Price of Glory (New York: St. Martin's, 1962), p. 12.

Posner R. , “The Chicago School of Antitrust Analysis,” University of Pennsylvania Law Review, Vol. 127 (1979), p. 945.

See Liebeler W. , “Market Power and Competitive Superiority in Concentrated Industries,” U.C.L.A. Law Review, Vol. 25 (1978), p. 1241; Shepard W. , The Treatment of Market Power (New York: Columbia University Press, 1975), pp. 47, 49; Weston J. F. , “Implications of Recent Research for the Structural Approach to Oligopoly.” in Brozen Y. (ed.), The Competitive Economy (New Jersey: General Learning Press, 1975), pp. 90–91.

Schumpeter J.S. , Capitalism, Socialism and Democracy (New York: Harper Colophon, 1947), pp. 84, 104–105.

Stigler G. , The Organization of Industry (Illinois: Irwin, 1968), p. 67.

Bork R. , The Antitrust Paradox: A Policy at War with Itself (New York: Basic Book, Inc., 1978), p. 59.

See Comanor W. , “Vertical Mergers, Market Power and the Antitrust Laws.” American Economic Review, Vol. 57 (May 1967). pp. 259–262; see also Bork , op. cit., p. 321.

See Bain J.S. , Industrial Organization (New York: Wiley Hamilton, 1969); Hall M. Weiss L. , “Firm Size and Profitability,” Review of Economics and Statistics (1967), pp. 319–331.

See Kendrick J. , “Productivity Trends and Statistics,” Joint Economic Committee Studies, Vol. 1 (October 1976); Catto V. , “Productivity and Growth: A Graphical Approach,” Business Economics (May 1979); Council on Wage and Price Stability, Report on Productivity (Washington D.C.: Government Printing Office 23 July 1979).

Bork , op. cit., pp. 320–323.

Stigler G. , op. cit., p. 70; Demsetz H. , “Two Systems of Belief About Monopoly,” in Goldschmid Mann Weston (eds.), Industrial Concentration: The New Learning (Boston: Little, Brown and Company, 1974), pp. 173–174; Bork , op. cit.

See next section.

Posner , op. cit.

Areeda P. Turner D. , Antitrust Law (Toronto: Little. Brown and Company, 1978), pp. 299–303; Bork , op. cit., pp. 323–324.

Posner , op. cit.

Fisher F. , Diagnosing Monopoly, Working Paper, Number 226, (Massachusetts: Massachusetts Institute of Technology, October 1978), pp. 33–34.

Posner , op. cit.

Bork . op. cit., p. 450; Nader R. Green M. Seligman J. , Taming the Giant Corporation (New York: Norton & Company, 1976), p. 208; Mann H. M. , “Advertising Concentration, and Profitability: The State of Knowledge and Directions for Public Policy,” in Goldschmid Mann Weston (eds.), op. cit., pp. 137–156.

Brozen Y. , “Entry Barriers: Advertising and Product Differentiation,” in Goldschmid Mann Weston (eds.), op. cit., pp. 114–132; Areeda Turner , op. cit; see also Ornstein S. , Advertising as a Source of Monopoly Power or Competitive Returns: The Cases For and Against, an unpublished study supported by Research Program in Competition and Business Policy, University of California, Los Angeles (14 February 1980).

Bork , op. cit., pp. 314–320.

Posner , op. cit., p. 930.

See Scherer F. , Industrial Market Structure and Economic Performance, 2nd edition (Chicago: Rand McNally College, 1980), pp. 258–260; Bain J.S. , Barriers to New Competition (New York: Wiley Hamilton, 1956), pp. 142–143; Schmalensee R. , “Entry Deterrence in the Ready-To-Eat Breakfast Cereal Industry,” Bell Journal of Economics, Vol. 9 (Autumn 1978), pp. 311–313.

Liebeler W. , “Market Power and Competition Superiority in Concentrated Industries,” U.C.L.A. Law Review, Vol. 25 (1978), pp. 1242–1243; Bork . op. cit., pp. 312–314; Brozen , op. cit.

United States of America before the Federal Trade Commission vs. Kellogg Co., Docket Number 8883.

Some object to giving the customer what he wants because they either believe he does not know what he wants or that he wants the wrong things. This is poorly disguised; elitism on the part of those who believe they know best what customers should want. See also Ornstein S. , Industrial Concentration and Advertising Intensity (Washington D.C.: American Enterprise Institute Studies, Number 152, 1977), p. 66.

Shenefield J. , “Memorandum from Assistant Attorney General John H. Shenefield in Charge of Antitrust Division to his Staff on Shared Monopolies” (Washington D.C.: Bureau of National Affairs, Number 144, 26 July 1978).

Scherer , op.cit, p. 244; Sullivan L. , The Law of Antitrust (Minnesota: West Publishing Co., 1976), p. 78.

Liebeler , op. cit; Arreda Brown , op. cit., p. 291–292.

Stigler , op. cit.

See Williamson O. , “Predatory Pricing: A Strategic and Welfare Analysis,” Yale Law Journal, Vol. 87 (1977); Blair J. , Economic Concentration (New York: Harcourt Brace Jovanovich, Inc., 1972), p. 30.

Bork , op.cit., pp. 144–155; Scherer , op. cit., pp. 229–266.

Scherer , op.cit.; Brozen Y. , “The Concentration-Collusion Doctrine,” Antitrust Law Journal, Vol. 46 (1977), p. 859.

Demsetz , op. cit., pp. 164–165, 181.

Brozen Y. , “A Corporate Rebuttal To: Profit is Inherently Unethical,” speech before Ashland Economic Club, 15 September 1978.

Brozen Y. , “Competition, Efficiency, and Antitrust,” in Brozen (ed.), op. cit., pp. 11–14.

Doron G. , “How Smoking Increased When T.V. Advertising of Cigarettes was Banned,” Regulation, Vol. 3 (March-April 1979), pp. 49, 51.

Lilley W. III Miller J.C. III , “The New Social Regulation,” Public Interest (Spring 1977), p. 51.

Scherer F. , “The Posnerian Harvest,” Yale Law Journal, Vol. 86 (1974), pp. 995–1001.

Ibid., p.983.

Krouse C. , The Realemon Case, an unpublished study supported by Graduate School of Management, University of California, Los Angeles (January 1980).

United States of America before Federal Trade Commission vs. Borden Inc., Docket Number 8978 (19 August 1976).

United States of America before the Federal Trade Commission vs. Borden Inc., Docket Number 8883; United States of America before the Federal Trade Commission vs. Formica Co., 79–526 (December 1978).

Williamson , op. cit., pp. 297–302.

Ibid., p. 332.

Shepherd W. , The Treatment of Market Power (New York: Columbia University Press, 1975), pp. 209–210.

Why Professor Reid would discriminate against small firms within a concentrated industry is not clear. Reid S. , The New Industrial Order: Concentration, Regulation, and Public Policy (New York: McGraw-Hill, 1976), p. 273.

Stigler G. , The Citizen and the State (Chicago: University of Chicago Press, 1965), p. 113.

Schumpeter , op. cit., p. 5.

See Beals R. , Concentrated Industries, Administered Prices, and Inflation: A Survey of Recent Empirical Research, an unpublished survey prepared for the Council on Wage and Price Stability (17 June 1975); Brozen (ed.) op. cit.; Brozen Y. , “The Concentration-Collusion Doctrine” Antitrust Law Journal, Vol. 46 (1977); Demsetz , op. cit., p. 11; Lustgarten , Industrial Concentration and Inflation (Washington D.C.: American Enterprise Institute Study, Number 31, 1975); McGee J. , In Defense of Industrial Concentration (New York: Praeger, 1971); Posner , op. cit.; Weston J. F. , Business Power Over Markets and Consumers, an unpublished study presented to the Conference on Contemporary Challenges to American Business Society Relationships, University of California, Los Angeles (6 August 1971); Weston J.F. , Economic Factors Affecting Pricing Decisions, an unpublished study presented to the Council on Wage and Price Stability Symposium, “A Study of Steel Prices” (December 1975); Weston J.F. , “Concentration and Efficiency: The Other Side of the Monopoly Issue,” Hudson Institute Issues in Public Interest, Number 4 (March 1978).

Weaver P. , “Regulation, Social Policy, and Class Conflict,” Public Interest, Number 50 (Winter 1978), p. 56.

Bork R. , “Assault on the Corporation,” Across the Board, Vol. 15, Number 2 (1978), p. 52.

Weaver , op. cit., pp. 60–61; Weidenbaum M. , The New Wave of Federal Government Regulation in Business, an unpublished presentation to the Long-Range Planning Service's 1975 client meeting (20 May 1975).

Pertshuk M. , “What's Wrong With Conglomerate Mergers?” speech before Antitrust Seminar, Washington, D.C., 7 May 1979.

Pertschuk M. , “On the Need for a Populist Economics,” ABA Antitrust Journal, Vol. 1, Number 1 (1978); see also Pertschuk's M. testimony before the Senate Committee on judiciary, 27 July 1978.

In our view, prices would not be “marginally higher”; they would be substantially higher. See Pertschuk M. , speech before Eleventh New England Antitrust Conference, 18 November 1977.

Time (21 May 1979), p. 63.

Litvack S. , in testimony before the Subcommittee of Antitrust and Restraint of Trade Activities Affecting Small Business, 7 February 1980.

Pitofsky R. , “The Political Content of Antitrust,” University of Pennsylvania Law Review, Vol. 127 (1979), p. 1051.

Hayek F. , The Road to Serfdom (Chicago: University of Chicago Press, 1976), p. 57.

Gellhorn E. , “The New Gibberish at the FTC,” Regulation (May-June 1978), p. 40.

Lilley , op. cit.

Demsetz , op. cit., p. 128; Weston , op. cit.

Williamson , op.cit., p. 332.

Hayek , op. cit., pp. 35, 105.