Posted by Social Science Research Network Oligopoly, Macroeconomic Performance, and Competition Policy By José Azar & Xavier Vives (University of Navarra) We develop a macroeconomic framework in which firms are large and have market power with respect to both products and factors. Each firm maximizes a share-weighted average of shareholder utilities, which makes the equilibrium […]
Posted by Social Science Research Network Internet Appendix for: ‘Anticompetitive Effects of Common Ownership’ By José Azar (University of Navarra), Martin C. Schmalz (University of Michigan) & Isabel Tecu (Charles River Associates) This internet appendix complements the paper “Anticompetitive Effects of Common Ownership” and is organized as follows: Section I outlines a model of competition […]
Posted by Social Science Research Network Australian Cartel Law: Biopsies By Brent Fisse (University of Sydney) The Competition Policy Review Final Report (31 March 2015) (Harper Report)1 made numerous recommendations for changes to the Australian Competition and Consumer Act 2010. Many of these recommendations were adopted in amendments that came into effect on 6 November […]
Assistant Attorney General for Antitrust, Makan Delrahim, responded in a letter dated May 18, to Rutgers University Professor Michael Carrier and former Federal Trade Commission Chairman Timothy Muris who, with 75 other academics and former US antitrust enforcers, wrote him on May 17, critiquing his recent speeches on patents and patent holdup. In his reply, […]
Posted by New York Times What the Microsoft Antitrust Case Taught Us By Richard Blumenthal and Tim Wu Twenty years ago today, Microsoft was sued by the Department of Justice and a coalition of 20 state attorneys general (including one of us, Mr. Blumenthal, of Connecticut) for violating federal antitrust law. Microsoft, the world’s dominant software […]
On May 17, 2018, an open letter was addressed to Assistant Attorney General Makan Delrahim by 77 former government enforcement officials and academics, who do not believe his recent speeches on patents and patent holdup “are consistent with the broad bipartisan legal and economic consensus that has existed for over a decade regarding standard setting.” […]
Posted by Social Science Research Network Exclusionary Conduct in Antitrust By Elyse Dorsey (Wilson Sonsini Goodrich & Rosati) & Jonathan Jacobson (New York State Bar Association) Courts and commentators have struggled hard for many decades to develop rules that separate the lawful conduct of a single firm from the unlawful. That struggle continues today. We […]
Posted by Social Science Research Network Antitrust Analysis of Big Data By Joshua D. Wright (George Mason University) & Elyse Dorsey (Wilson Sonsini Goodrich & Rosati) The term big data evokes a variety of contexts, encompassing many of the most frequently encountered in the modern economy. With its unrelentingly expansive scope, it seems perhaps inevitable […]
Posted by Social Science Research Network Local Bank Competition, Credit Markets and House Prices. By Nikodem Szumilo (London School of Economics & Political Science) The paper examines how changes in banking competition impact how financial institutions allocate resources in the economy. I focus on the influence on mortgage markets and house prices. I use the […]
Posted by Social Science Research Network Reply to: ‘Common Ownership Does Not Have Anti-Competitive Effects in the Airline Industry’ By José Azar (University of Navarra), Martin C. Schmalz (University of Michigan) & Isabel Tecu (Charles River Associates) Dennis, Gerardi, and Schenone (2017) (DGS) claim to replicate the data construction and results of Azar, Schmalz, and Tecu […]