In this issue:
CPI’s Spring 2010 issue takes a comprehensive look at behavioral economics. Behavioral economics is still controversial and its implications for public policy are just now being fully explored. The articles in this issue make a substantial contribution in assessing where, if anywhere, behavioral economics is relevant to antitrust and the increasingly related field of consumer protection.
In addition, Einer Elhauge responds to his critics from our previous issue, maintaining that the Chicago single monopoly profit theorem really is dead. And we continue our practice of presenting recent cases of special interest with an analysis of Barclays’ successful appeal of the Competition Commission’s judgment regarding personal protection insurance. Our final article brings us back full circle to the beginnings of behavioral economics with a reprint of Herbert Simon’s seminal paper on bounded rationality. Enjoy!
From the Editor
CPI’s Spring 2010 issue takes a comprehensive look at behavioral economics and its implications, if any, for the practice of competition policy.
David S. Evans, University of Chicago & University College London
A Symposium on Antitrust and Behavioral Economics
Discussing the literatures on behavioral economics, bounded rationality, and experimental economics as they apply to firm behavior in markets.