Peter Klein Throws Cold Water on New Economy Talk
Peter Klein of Organizations and Markets blog-fame kicked off the George Mason/ Microsoft Conference on the Law and Economics of Innovation a few weeks back with a talk on “Does the New Economy Need New A Economics?” His answer: No. This week, Peter takes aim at Wired’s Chris Anderson who predicts a massive shift toward ... Peter Klein Throws Cold Water on New Economy Talk
CPI Webinar: Economic and Legal Analysis of Collusion
Competition Policy International has announced its next Webinar, featuring Professors Bajari and Abrantes-Metz on the economic and legal analysis of collusion. I’ve had a blast doing these lectures the last couple of weeks teaching Antitrust Economics 101, and will be finishing up the third lecture this week (after covering basic demand side and supply side ... CPI Webinar: Economic and Legal Analysis of Collusion
RPM Workshop Testimony
I’ll be testifying tomorrow at the Federal Trade Commission hearings on Resale Price Maintenance. My panel will focus on rule of reason analysis of RPM Post-Leegin. There is a bit of awkwardness testifying about different modes of rule of reason analysis with legislation that would restore the Dr. Miles per se rule pending, but it ... RPM Workshop Testimony
Zywicki on Chrysler and The Rule of Law
My colleague Todd Zywicki has a must read op-ed in the WSJ. Here’s an excerpt: The Obama administration’s behavior in the Chrysler bankruptcy is a profound challenge to the rule of law. Secured creditors — entitled to first priority payment under the “absolute priority rule” — have been browbeaten by an American president into accepting ... Zywicki on Chrysler and The Rule of Law
The EU Intel Decision, Error Costs, and What Happens in the US?
Reacting to the EU fines imposed on Intel, Geoff raises a nice point about the difficulty of constructing the but-for world in antitrust cases generally, but particularly in cases where prices are falling. This discussion reminded me of Thom’s excellent post responding to the NYT editorial and an AAI working paper and putting theoretical anticompetitive ... The EU Intel Decision, Error Costs, and What Happens in the US?
Section 2 Report Quick Reactions
A few quick reactions to the repudiation of the Section 2 Report, and more importantly, what it means for the future of monopolization enforcement: First, the most disappointing thing about the withdraw of the Report and this announcement is that it is incredibly dismissive about the long hours of work put into this project by ... Section 2 Report Quick Reactions
Neo-Chicago Meets Evidence-Based Antitrust
Dan Crane has an excellent essay (“Chicago, Post-Chicago and Neo-Chicago“) reviewing Bob Pitofsky’s Overshot the Mark volume. Here’s Dan’s brief abstract: This essay reviews Bob Pitofsky’s 2008 essay compilation, How Chicago Overshot the Mark: The Effect of Conservative Economic Analysis on U.S. Antitrust. The essay critically evaluates the book’s rough handling of the Chicago School ... Neo-Chicago Meets Evidence-Based Antitrust
Patent Holdup, Antitrust and Innovation: Harness or Noose?
Expanding on the themes in this post from the TOTM symposium book review of Professor Carrier’s new book on “Harnessing the Power of Intellectual Property and Antitrust Law” to encourage innovation, I’ve posted an essay co-authored with a very talented former student and research assistant, Aubrey Stuempfle. The essay expands on some of the themes ... Patent Holdup, Antitrust and Innovation: Harness or Noose?
Reminder: Antitrust Economics 101 Starts Tomorrow
Tomorrow I’ll be starting a three week interactive web seminar on basic microeconomic concepts that form the basis of antitrust analysis. The lectures will be available through Competition Policy International’s Learning Center on three consecutive Wednesdays at 12 pm EST: May 13, 20, and 27th. CLE credit is available for practicing lawyers. The courses will ... Reminder: Antitrust Economics 101 Starts Tomorrow
Section 2 Symposium: Wrap Up
We would like to thank all of our participants and commenters for an outstanding symposium. This was a truly impressive collection of commentaries on Section 2 and the Section 2 Report, and it should stand for some time as a useful, interesting and provocative collective statement on the issues. For easy reference, you can access the ... Section 2 Symposium: Wrap Up
Section 2 Symposium: Josh Wright on An Evidence Based Approach to Exclusive Dealing and Loyalty Discounts
The primary anticompetitive concern with exclusive dealing contracts is that a monopolist might be able to utilize exclusivity to fortify its market position, raise rivals’ costs of distribution, and ultimately harm consumers. The unifying economic logic of these anticompetitive models of exclusivity is that the potential entrant (or current rival) must attract a sufficient mass ... Section 2 Symposium: Josh Wright on An Evidence Based Approach to Exclusive Dealing and Loyalty Discounts
Maryland Adopts New Per Se Rule for Minimum RPM
A new law in Maryland will take effect on October 1 and will re-instate the Dr. Miles rule for minimum RPM. The Wall Street Journal reports that it is a “move that could lead to lower prices for consumers across the country.” I doubt it. There are quite a few reasons to believe that shifts ... Maryland Adopts New Per Se Rule for Minimum RPM
