Antitrust and Marketing: A Primer and Call to Research

Abstract

As a body of public policy thought, antitrust is concerned with the competitive consequences of conduct by organizations engaged in exchange. Its principles and doctrine ensure that exchange is conducted in a way that benefits from the incentives and discipline of a competitive marketplace. From an antitrust perspective, safeguarding competition yields a well-functioning and prosperous economic system. Competition is considered the best means of eliminating excess profits; efficiently allocating resources; forcing firms to produce quality goods at the lowest costs, in amounts consumers want; and stimulating innovation to enhance the overall welfare of consumers (Shenefield and Stelzer 2001, p. 13). Antitrust's Economic Foundations Modern antitrust relies extensively on microeconomics, particularly