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Showing archive for:  “Truth on the Market”

Will the FTC Reinvigorate an Antiquated Law that Raises Prices?

The Federal Trade Commission (FTC) and Congress are showing renewed interest in a Great Depression-era law, the Robinson-Patman Act, that discourages sales discounts. This is bad news for hard-strapped American consumers, who have had to cope with prices that have risen more than 20% since February 2020. As such, reinvigorated enforcement of the RPA, a ... Will the FTC Reinvigorate an Antiquated Law that Raises Prices?

Should the Federal Government Regulate Artificial Intelligence?

Artificial intelligence is in the public-policy spotlight. In October 2023, the Biden administration issued its Presidential Executive Order on AI, which directed federal agencies to cooperate in protecting the public from potential AI-related harms. President Joe Biden said in his March 2024 State of the Union Address that government enforcers will crack down on the ... Should the Federal Government Regulate Artificial Intelligence?

Live Nation Breakup: Are Mergers Really to Blame for Ticketmaster’s Problems?

The U.S. Justice Department (DOJ) announced yesterday that it has filed suit, along with 29 states and the District of Columbia, charging Live Nation Entertainment Inc. and its subsidiary Ticketmaster LLC with monopolizing the live-events industry in violation of Section 2 of the Sherman Act.  The suit, filed in the U.S. District Court for the ... Live Nation Breakup: Are Mergers Really to Blame for Ticketmaster’s Problems?

All Roads Lead to Dallas: FTC Non-Compete Rule Set to Face Its First Legal Test in the Northern District of Texas

The sweeping prohibition on noncompete agreements promulgated by the Federal Trade Commision (FTC)—which would nullify 30 million contracts and preempt the laws of 46 states if it takes effect, as scheduled, on Sept. 4—is set for its first judicial test. In Ryan, LLC v. FTC, Judge Ada Brown of the U.S. District Court for the ... All Roads Lead to Dallas: FTC Non-Compete Rule Set to Face Its First Legal Test in the Northern District of Texas

AI Partnerships and Competition: Much Ado About Nothing?

Competition policymakers around the world have been expressing concerns about competition in emerging artificial-intelligence (AI) industries, with some taking steps to investigate them further. These fears are notably fueled by a sense that incumbent (albeit, in adjacent markets) digital platforms may use strategic partnerships with AI firms to stave off competition from this fast-growing field. ... AI Partnerships and Competition: Much Ado About Nothing?

How Should We Measure Competition?

Competition is the driving force behind the success of markets. It’s hard to imagine a thriving market economy without the presence of competitive forces. But how do we actually measure competition? I use the term all the time, but do we actually have a measure of it? This question is more complex than it may ... How Should We Measure Competition?

Google Previews the Coming Tussle Between GDPR and DMA Article 6(11)

Among the less-discussed requirements of the European Union’s Digital Markets Act (DMA) is the data-sharing obligation created by Article 6(11). This provision requires firms designated under the law as “gatekeepers” to share “ranking, query, click and view data” with third-party online search engines, while ensuring that any personal data is anonymized. Given how restrictively the ... Google Previews the Coming Tussle Between GDPR and DMA Article 6(11)

ICLE/ITIF Amicus Brief Urges Court to Set Aside FCC’s Digital-Discrimination Rules

The Federal Communications Commission (FCC) recently adopted sweeping new rules designed to prevent so-called “digital discrimination” in the deployment, access, and adoption of broadband internet services. But an amicus brief filed by the International Center for Law & Economics (ICLE) and the Information Technology & Innovation Foundation (ITIF) with the 8th U.S. Circuit Court of ... ICLE/ITIF Amicus Brief Urges Court to Set Aside FCC’s Digital-Discrimination Rules

What We Know About the Rise in Markups

In my research and newsletters, I’ve written about how to interpret markups—mostly on the theory side. I haven’t devoted much space explaining the empirics. How high are markups in the United States? Are they rising? If so, by how much? This post seeks to answer those questions. I’m writing it after reading a new paper ... What We Know About the Rise in Markups

The Silly Season in Antitrust: The Hermès Case

For six generations, Hermès has epitomized French luxury, making and selling its iconic scarves, belts, jewelry, and, of course, handbags. Some Hermès products, including its Birkin and Kelly bags, are so exclusive that they can’t be bought off the shelf. Customers first have to establish a relationship with the house to purchase these specialty bags. ... The Silly Season in Antitrust: The Hermès Case

Net Neutrality and the Paradox of Private Censorship

With yet another net-neutrality order set to take effect (the link is to the draft version circulated before today’s Federal Communications Commission vote; the final version is expected to be published in a few weeks) and to impose common-carriage requirements on broadband internet-access service (BIAS) providers, it is worth considering how the question of whether ... Net Neutrality and the Paradox of Private Censorship

Steeling to Block a Merger

In an April 17 address to United Steelworkers in Pittsburgh, President Joe Biden vowed that his administration would “thwart the acquisition of U.S. Steel by a Japanese company,” Nippon Steel, telling the assembled union members that U.S. Steel “has been an iconic American company for more than a century and it should remain totally American.” ... Steeling to Block a Merger