The Economics Case for the Consumer Welfare Standard in Antitrust.

This article examines the economics case for the consumer welfare standard in antitrust. It argues that the consumer welfare standard, which focuses on harm to competition and economic efficiency, is superior to non-economic factors advocated by the FTC and DOJ. The article also explores the debate over whether the standard should be based on total welfare or consumers' surplus, and discusses the implications of non-economic factors in merger enforcement decisions. It concludes that the consumer welfare standard is clear and easy to apply, while non-economic alternatives lack guidance and can lead to conflicting assessments. Additionally, the article discusses price discrimination and its impact on consumer welfare and total economic welfare, explaining that under certain conditions, total economic welfare can increase despite a potential decrease in consumer welfare for some groups. The author provides a list of Supreme Court cases that support the consumer welfare standard. [Extracted from the article]