Antitrust Chronicle® – The Rule(s) of Reason

Dear Readers,

The “rule of reason” seems almost trite on its face. All law must be subject to reason. But in antitrust, the “rule of reason” has a particular heritage. Under the rule of reason, antitrust enforcers and courts are obliged to examine the positive and negative effects of a commercial arrangement before determining whether it violates the antitrust rules.

In administering the antitrust rules, is it particularly relevant to assess the extent of a firm’s market power at the t