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EASTERBROOK ON ERRORS
2010
Journal of Competition Law & Economics
The 1984 article by Frank Easterbrook, "The Limits of Antitrust," has had considerable influence on antitrust enforcement and adjudication. Principally, Easterbrook focused on the things that antitrust could not do well. When antitrust's reach exceeds its grasp, it creates Type I and Type II errors. But Easterbrook points out that, in antitrust matters, Type II errors are largely self-correcting. Letting price fixers go free may be a mistake, but cartels are prisoner's dilemmas, so the mistake
doi:10.1093/joclec/nhp028
fatcat:urwkg2lmnjdunbxlrxm4ntsuze