ANTITRUST ECONOMICS AND CONSUMER PROTECTION ECONOMICS IN POLICY AND LITIGATION: WHY THE DISPARITY?

摘要

The lag in the use of microeconomics in consumer protection policy and litigation-as compared with the use of microeconomics in antitrust/competition policy and litigation-has at least three causes: a considerably shorter period of intellectual development; the specific historical origins and culture of the U.S. Federal Trade Commission (FTC), where this disparity is especially noticeable; and the splintering of consumer protection responsibilities across a very large number of federal and state agencies. This paper will expand on these themes and discuss their implications-including the opportunities for expanded research in the area of consumer protection economics. (JEL B12, B13, B21, D18, L41)