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Making Sense of the Google Android Decision (part 1): Four Problems with the EU Commission’s Market Definition
This is the first in a series of TOTM blog posts discussing the Commission’s recently published Google Android decision. It draws on research from a soon-to-be published ICLE white paper. The European Commission’s recent Google Android decision will surely go down as one of the most important competition proceedings of the past decade. And yet, ... Making Sense of the Google Android Decision (part 1): Four Problems with the EU Commission’s Market Definition
Economics is Dead. Long Live Economics! A Review of The Economists’ Hour
John Maynard Keynes wrote in his famous General Theory that “[t]he ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men who believe themselves to be quite exempt from any intellectual influence, ... Economics is Dead. Long Live Economics! A Review of The Economists’ Hour
On the Antitrust Risks of Four to Three Mergers: A Case Study of a Potential ThyssenKrupp/Kone Merger
Today, Reuters reports that Germany-based ThyssenKrupp has received bids from three bidding groups for a majority stake in the firm’s elevator business. Finland’s Kone teamed with private equity firm CVC to bid on the company. Private equity firms Blackstone and Carlyle joined with the Canada Pension Plan Investment Board to submit a bid. A third ... On the Antitrust Risks of Four to Three Mergers: A Case Study of a Potential ThyssenKrupp/Kone Merger
The Forgotten Virtues of Doing Nothing
This guest post is by Jonathan M. Barnett, Torrey H. Webb Professor Law, University of Southern California Gould School of Law. It has become virtual received wisdom that antitrust law has been subdued by economic analysis into a state of chronic underenforcement. Following this line of thinking, many commentators applauded the Antitrust Division’s unsuccessful campaign ... The Forgotten Virtues of Doing Nothing
The Snobbery of Bashing Big Tech
In the spring of 1669 a “flying coach” transported six passengers from Oxford to London in a single day. Within a few years similar carriage services connected many major towns to the capital. “As usual,” Lord Macaulay wrote in his history of England, “many persons” were “disposed to clamour against the innovation, simply because it ... The Snobbery of Bashing Big Tech
Rising Concentration, Rising Prices: Not So Fast
Wall Street Journal commentator, Greg Ip, reviews Thomas Philippon’s forthcoming book, The Great Reversal: How America Gave Up On Free Markets. Ip describes a “growing mountain” of research on industry concentration in the U.S. and reports that Philippon concludes competition has declined over time, harming U.S. consumers. In one example, Philippon points to air travel. ... Rising Concentration, Rising Prices: Not So Fast
Does Apple’s “Discrimination” Against Rival Apps in the App Store harm Consumers?
A spate of recent newspaper investigations and commentary have focused on Apple allegedly discriminating against rivals in the App Store. The underlying assumption is that Apple, as a vertically integrated entity that operates both a platform for third-party apps and also makes it own apps, is acting nefariously whenever it “discriminates” against rival apps through ... Does Apple’s “Discrimination” Against Rival Apps in the App Store harm Consumers?
Why Data Is Not the New Oil
“Data is the new oil,” said Jaron Lanier in a recent op-ed for The New York Times. Lanier’s use of this metaphor is only the latest instance of what has become the dumbest meme in tech policy. As the digital economy becomes more prominent in our lives, it is not unreasonable to seek to understand ... Why Data Is Not the New Oil
Any Way You Measure It, Warren Is Wrong to Claim “Facebook and Google Account for 70% of All Internet Traffic”
When she rolled out her plan to break up Big Tech, Elizabeth Warren paid for ads (like the one shown above) claiming that “Facebook and Google account for 70% of all internet traffic.” This statistic has since been repeated in various forms by Rolling Stone, Vox, National Review, and Washingtonian. In my last post, I ... Any Way You Measure It, Warren Is Wrong to Claim “Facebook and Google Account for 70% of All Internet Traffic”
Debunking Elizabeth Warren’s Claim That “More Than 70% of All Internet Traffic Goes through Google or Facebook”
In March of this year, Elizabeth Warren announced her proposal to break up Big Tech in a blog post on Medium. She tried to paint the tech giants as dominant players crushing their smaller competitors and strangling the open internet. This line in particular stood out: “More than 70% of all Internet traffic goes through ... Debunking Elizabeth Warren’s Claim That “More Than 70% of All Internet Traffic Goes through Google or Facebook”
Call for Papers and Proposals – Nebraska Rural Digital Divide Roundtable
On March 19-20, 2020, the University of Nebraska College of Law will be hosting its third annual roundtable on closing the digital divide. UNL is expanding its program this year to include a one-day roundtable that focuses on the work of academics and researchers who are conducting empirical studies of the rural digital divide. Academics ... Call for Papers and Proposals – Nebraska Rural Digital Divide Roundtable
Vertical Mergers: Fast Food, Folklore, and Fake News
In the Federal Trade Commission’s recent hearings on competition policy in the 21st century, Georgetown professor Steven Salop urged greater scrutiny of vertical mergers. He argued that regulators should be skeptical of the claim that vertical integration tends to produce efficiencies that can enhance consumer welfare. In his presentation to the FTC, Professor Salop provided ... Vertical Mergers: Fast Food, Folklore, and Fake News
