Abstract
This paper highlights the trends in antitrust enforcement for 1963–84. It is based upon an update by the author's of Posner's study and follows his methodology, format, and operational definitions. The specific data examined include number of antitrust cases instituted, the duration of cases, DOJ and FTC won-loss records, nature of cases, fines and imprisonment and violations alleged.
Since 1890, the number of multiple cases instituted by the DOJ resulting from the investigation of a single conspiracy has increased. Consolidating cases to reflect this pattern shows the apparent increase in DOJ cases represent fewer conspiracies of more limited nature that are being prosecuted under the Reagan administration. It is an intense cultivation of a well-known terrain rather than exploration of new frontiers in antitrust.
The Antitrust Penalties and Procedures Act of 1974 has increased the size of fines and the use of jail sentences. Structural relief is less frequent.
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The authors are Associate Professors of Economics, University of Cincinnati and a graduate student. University of Chicago, respectively. This study has benefited from comments from Howard Marvel, Charles J. Parker, an anonymous reviewer, and a DOJ Antitrust Division Research in 1983. Special thanks to Paul Laux who encouraged us to tell this story and the Antitrust and Public Policy class at the University of Cincinnati which assisted in the calculation of the 1983 and 1984 statistics.
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Gallo, J.C., Craycraft, J.L. & Bush, S.C. Guess who came to dinner. Rev Ind Organ 2, 106–130 (1985). https://doi.org/10.1007/BF02354216
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DOI: https://doi.org/10.1007/BF02354216