Quis Custodiet Ipsos Custodes? Behavioral Public Choice Theory and the Debate Over Antitrust Reform

Behavioral economics has become an additional tool at the disposal of antitrust agencies and defense counsel. While the findings of behavioral economists are often considered justification for additional government regulation of the free market, a growing behavioral literature suggests caution against excessive intervention. It is sometimes overlooked that behavioral biases that affect consumers and firms, can and often do affect policymakers. Furthermore, because of the nature of the political