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Business Articles Awards > Economics

The Theory of Contestable Markets and Its Legacy in Antitrust Practice

Jose Alberro and Rainer Schwabe, ABA Economics Committee Newsletter (Vol. 16), 2016

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Lawyers and economists working in antitrust are likely to encounter the Theory of Contestable Markets (henceforth "TMC") at some point in their professional lives. In this article we provide a brief, non-technical explanation of TCM and we chronicle its rise to prominence, its decline in popularity within mainstream Economics, and its enduring influence on the practice of antitrust.

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