Rise of the Chicago School (1970s–present) The "structuralist" interpretation of U.S. antitrust law began losing favor in the early 1970s in the face of harsh criticism by economists and legal scholars from the University of Chicago. Scholars from the Chicago school of economics had long called for reducing price regulation and limiting barriers to entry. Newer Chicago economists like Aaron Director argued that there were economic efficiency explanations for some practices that had been condemned under the structuralist interpretation of the Sherman and Clayton Acts. Much of their economic analysis involved game theory, which showed that some conduct that had been thought uniformly anticompetitive, such as preemptive capacity expansion, could be either pro- or anticompetitive depending on the circumstances.
Rise of the Chicago School (1970s–present) The "structuralist" interpretation of US. antitrust law began losing favor in the early 1970s in the face of harsh criticism by economists and legal scholars from the University of Chicago. Scholars from the Chicago school of economics had long called for reducing price regulation and limiting barriers to entry. Newer Chicago economists like Aaron Director argued that there were economic effici.ency explanations f.or some practices that had been condemned under the structuralist interpretation of the Sherman and Clayton Acts. Much of their economic analysis involved game theory, which showed that some conduct that had been thought uniformly anticompetitive, such as preemptive capacity expansion, could be either pro- or anticompetitive depending on the circumstances