Competition policy and price fixing /Louis Kaplow.

Includes bibliographies and index.

Preface -- Introduction -- Horizontal agreements -- Defining the problem -- Communications -- Statutory provisions and higher court interpretations -- U.S. lower court practice -- Paradox of proof -- Oligopoly theory and the agreement requirement -- Price-fixing policy -- Social welfare -- Framework for decision-making -- Detection : market-based evidence -- Detection : other types of evidence -- Liability assessment -- Sanctions -- Unilateral market power -- Additional considerations -- Comparison of approaches -- Communications-based prohibition -- Detection of prohibited communications -- Further topics.

Throughout the world, the rule against price fixing is competition law's most important and least controversial prohibition. Yet there is far less consensus than meets the eye on what constitutes price fixing, and prevalent understandings conflict with the teachings of oligopoly theory that supposedly underlie modern competition policy. Competition Policy and Price Fixing provides the needed analytical foundation. It offers a fresh, in-depth exploration of competition law's horizontal agreement requirement, presents a systematic analysis of how best to address the problem of coordinated oligopolistic price elevation, and compares the resulting direct approach to the orthodox prohibition.

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