Cartel Detection and Duration Worldwide, II

John M. Connor, Sep 28, 2011 In the old days-before price-fixing became illegal nearly everywhere-cartels operated in the public sphere. In some cases, the formation of a new cartel would be trumpeted to the business press because after a disastrous decline in prices, the market needed to be “stabilized.” Sometimes these saviors of industries would […]

Use and Misuse of Empirical Methods in the Economics of Antitrust, II

Dennis Carlton, Mar 14, 2011 The application of economics to issues involving competition policy has always required a mixture of economic theory and empirical analysis. As any good lawyer knows, an economic analysis typically must rely on the facts of the industry under study to be credible. As a result, empirical analysis is often a […]

DOJ’s Attempt to Block the AT&T/T-Mobile Merger Places the Horizontal Merger Guidelines on Trial, II

Benjamin Brown, Oct 31, 2011 In the U.S. antitrust merger enforcement community, many believed that the Department of Justice (“DOJ”) would sue to enjoin any attempt to further consolidate among the Big Four, especially any combination that would involve either of the biggest two networks, Verizon and AT&T, eliminating one of their smaller competitors. It […]

Price Theory and Merger Guidelines, II

Sonia Jaffe, Glen Weyl, Mar 14, 2011 The innovations of the new U.K. and U.S. merger guidelines released last year have excited many economists. On the one hand, they apply in nearly as broad a range of merger contexts as traditional market definition and HHI-based approaches do. On the other hand, they incorporate the explicit […]

The Regulation of Interchange Fees by the U.S. Federal Reserve Board: A Primer on Economic Principles, II

David Evans, Robert Litan, Richard Schmalensee, Mar 30, 2011 The Board of Governors of the Federal Reserve System (“Board”) is the latest of a series of central banks and antitrust authorities to tackle the thorny issues of interchange fees. It did not ask for the job. During the process of drafting financial reform legislation the […]

Payment Card Regulation and the Use of Economic Analysis in Antitrust

Jean Tirole, Mar 30, 2011 A key input of our modern economies, payment cards are ubiquitous; debit and credit cards offer a wide range of alternatives to cash and checks to operate brick and mortar, e- and mobile phone, and P2P payments. The contours of the industry are rapidly changing. The payment card industry is also becoming one of […]

The New Indian Merger Control: Key Procedural Issues, II

Simon Baxter, Nikolaos Peristerakis, Apr 15, 2011 On March 4, 2010, the Ministry of Corporate Affairs of India published a Notification according to which the merger-related Sections 5 and 6 of the Competition Act, 2002 (as amended) (the “Act”) will enter into force as of June 1, 2011. The merger control regime will be supplemented […]

The Intersection of Consumer Protection and Competition in the New World of Privacy, II

Julie Brill, May 20, 2011 Privacy issues are becoming increasingly important during this time of rapid technological advance. This article addresses the important question of how the FTC might balance the consumer protection concerns arising in the context of privacy with competition issues. It will first examine the basic principles of consumer protection and competition law, the two core […]

A Presentation on Market Definition, II

Richard Schmalensee, Jun 01, 2011 Let me now turn to the broad consensus on market definition among leading authorities. I don’t have time-and I doubt you have the patience-to go through all the methods and information sources discussed in our paper. It seems more useful on this occasion to highlight three of the key concepts […]

Wal-Mart Stores, Inc. v. Dukes: Supreme Court Clarifies Commonality Analysis for Class Actions and Rejects Use of Injunctive Relief as Hook to Certify Damages Class, II

Donald Falk, Marcia Goodman, Archis Parasharami, Aug 16, 2011 Last year we reported on the en banc Ninth Circuit’s pathbreakingly broad decision affirming the certification of a class of 1.5 million plaintiffs in a lawsuit alleging that Wal-Mart had discriminated against its female employees at all levels. At that time, we noted that the court […]