The problem of the dimerization of amphipathic molecules in dilute aqueous solutions is reviewed. An extensive body of data on the distribution of fatty acids (HA) between heptane and an aqueous phosphate buffer (pH 7.45) obtained by Goodman is analyzed. The data cannot be interpreted without postulating self-association of anions, and detailed analysis shows that association involves only two anions: the formation of trimers or higher aggregates is negligible. Theoretical arguments suggest that the formation of acid soap species (or the hydrolysis of the anion dimer) is negligible at pH 7.45. The postulated equilibrium 2A-A22-345accounts for all anomalies for seven systems, and reliable values of the dimerization constant > are derived. K-o increases progressively with chain length to a high value for the palmitate ion, but, curiously, stearate, oleate, and linoleate all give values of the same order as palmitate. From the extrapolated values of the distribution data to infinite dilution, the free energies (AG) of complete transfer to the fatty acids are calculated. The change in AG for the addition of a CH2 group, A(r(CH2), is constant between octanoic and myristic acids (-825 cal./mole) but decreases somewhat between myristic and palmitic acids. In their AG values, also, the three Cis acids appear to be similar to palmitic acid. The implications of these findings to the understanding of micellar equilibria, association of short-chain fatty acids, and some aspects of lipid biochemistry are briefly discussed. A simple, but tentative, physical explanation is suggested for the preponderance of Cu and Cis acids in many physiological systems.