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Joshua Wright, Nov 25, 2009
The strength of antitrust doctrine has been its ability to incorporate economic thought and empirical evidence over time. The consumer benefits from that incorporation are well known and uncontroversial. But change in economic thought can be slow. And in the sometimes lengthy period before those changes are incorporated into antitrust doctrine and enforcement decisions, the history of antitrust suggests a tendency toward false positives when innovative business practices are involved.
