This article considers the circumstances in which a court, faced with a challenge to a decision taken by a primary decision-maker, accords a “margin of appreciation” to that decision-maker by limiting the intensity of its review.
The judge’s task is less one of economic learning than it is of using the economic analysis to bring the evidence into sufficient focus to reach a decision.
The contributors to the book argue forcefully the federal antitrust agencies and the courts have now “overshot the mark” in adopting too laissez-faire an approach to antitrust enforcement.
Despite a valiant effort well worth reading for any party interested in the future of antitrust policy, Overshot the Mark falls short of hitting its own.
Reading the Neal Report today is a trip to another world. But, in fact, it represented the received orthodoxy of its day. The tragedy of the Neal Report is that the model it represented was just on the verge of complete, catastrophic replacement.