Abstract and Keywords
This chapter examines the antitrust implications of bilateral monopoly. Section 16.2 presents the economic model of bilateral monopoly. This section compares monopoly, monopsony, and bilateral monopoly. In particular, it focuses on price, output, and social welfare. Section 16.3 examines some complications for antitrust policy. In particular, unlawful monopoly may lead to monopsony and unlawful monopsony may lead to monopoly. This has serious implications for antitrust policy in Section 1 Sherman Act cases and Section 7 Clayton Act cases, which are examined in section 16.4. The chapter closes with some concluding remarks in section 16.5.
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