This Understanding treatise explains the essential concepts of antitrust law. Over the last several decades, the Supreme Court and lower federal courts have fundamentally reshaped antitrust doctrine, often addressing new forms of anticompetitive conduct and incorporating new economic theories. The Eighth Edition of Understanding Antitrust and Its Economic Implications describes the current state of antitrust law as well as its historical foundations, economic underpinnings, and the evolution of the law. This edition addresses new developments in several areas, including:

• Direct-purchaser requirement
• Proving agreements with circumstantial evidence
• Summary judgment standards and applications
• Quick-look analysis
• The economics of monopolization
• Anticompetitive product design
• Abuse of patents and other intellectual property rights
• Refusals to deal
• Price squeezes
• Procompetitive justifications for anticompetitive conduct
• Updated discussion of merger law, including the 2023 Merger Guidelines