Showing archive for: “Collusion & Cartels”
What Am I Missing About Antitrust Exemptions?
Geoff mentions the pending bills on the Hill that would grant merchants an antitrust exemption to negotiate interchange fees. The insurance industry exemption has also been in the news of late in the wake of the Democrats’ threats of repeal. Here’s what I’m puzzled about. Other than self-interested parties that have a lot to gain ... What Am I Missing About Antitrust Exemptions?
Antitrust Anachronism? Randy Picker on the Microsoft-Yahoo Search Deal
I recently commented on Gordon Crovitz’s WSJ column on the Microsoft-Yahoo deal arguing that antitrust was simply too cumbersome to deal competition issues in dynamic markets like search. A short version of my take was that these concerns are often overstated in the areas of cartels and even sometimes in merger enforcement — but have ... Antitrust Anachronism? Randy Picker on the Microsoft-Yahoo Search Deal
Dear Mr. Toobin
Jeff Toobin has an interesting profile on John Roberts in the New Yorker (HT: Jonathan Adler who also takes issue with Toobin’s description of Leegin, but goes on to challenge Toobin’s general account of Roberts as a “stealth nominee”). Toobin’s column has very little to do with antitrust. with the exception of one sentence describing ... Dear Mr. Toobin
Lambert's Latest on RPM in the William and Mary Law Review
The law and economics of RPM have been a frequent topic of discussion here for Thom and I especially, ranging from the empirical evidence on RPM, to competitive resale price maintenance without free riding, to the inappropriate use of the term “price-fixing” by journalists some who should know better to describe RPM, to the Commission’s ... Lambert's Latest on RPM in the William and Mary Law Review
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
Professor Carrier’s Response
First of all, I would like to express my deepest gratitude to Josh Wright. Only because of Josh’s creativity and tireless, flawless execution did this blog symposium come about and run so smoothly. I also would like to thank Dennis Crouch, who has generously cross-posted the symposium at PatentlyO. And I am grateful for the ... Professor Carrier’s Response
Manne on Carrier's Innovation in the 21st Century
Michael Carrier has written a timely and interesting book. Like Dan, I’m still digesting it (which means, in translation: I have not yet read every word). There is much to like about the book, in particular its accessible format and content. I do fear that it is a bit overly ambitious, however, hoping both to ... Manne on Carrier's Innovation in the 21st Century
DOJ AAG Designate Christine Varney on Section 2, Europe, Google & A Puzzling Statement About Error Costs
Predicting what antitrust enforcement regimes in the current economic environment is a tricky business. I’ve done my best here. One probably cannot think of a better source for such predictions than those from the soon-to-be AAG Christine Varney, who recently spoke at an American Antitrust Institute panel on Section 2 enforcement (you can hear the ... DOJ AAG Designate Christine Varney on Section 2, Europe, Google & A Puzzling Statement About Error Costs
What's the Empirical Evidence on RPM?
I’ve been reading the papers for the FTC RPM Workshops, though I cannot attend. On the procompetitive side, I especially recommend Ben Klein’s explanation of how RPM facilitates the supply of promotional services in the absence of dealer free-riding. Critics of RPM, in my view, generally do not understand the fundamental economic point that retailer ... What's the Empirical Evidence on RPM?
To Whom It May Concern: Please Stop Calling RPM Agreements Cartels (or Price-Fixing)
The headline of this Bloomberg story on the Swiss Competition Authority’s complaint against Bayer, Pfizer and Lilly announces that the firms operated an “Erection Drug Cartel.” I read a bit further to learn something about what I suspected, from the title of the story, would be a horizontal agreement between the firms — that is ... To Whom It May Concern: Please Stop Calling RPM Agreements Cartels (or Price-Fixing)
Caplan on the Law as a Phony Discipline
Bryan Caplan writes: At risk of offending my many friends in the legal academy, I think that law is a shockingly phony discipline. Virtually everyone – liberal, conservative, Marxist, libertarian, or whatever – imagines that the law conveniently agrees with what they favor on non-legal grounds. Almost no one admits that many, if not most, ... Caplan on the Law as a Phony Discipline
Antitrust, The Bailout, and the Coming Boom in Monopolization Enforcement
From the WSJ comes an editorial from Martin Neal Baily and Matthew Slaughter describe a forthcoming report from the Private Equity Council making the link between product market competition and productivity: A central theme of this report is the critical role that competitive product markets play in spurring productivity growth and boosting standards of living. ... Antitrust, The Bailout, and the Coming Boom in Monopolization Enforcement
