Testimony on Tying for the DOJ/FTC Hearings on Single-Firm Conduct

This article is part of a Chronicle. See more from this Chronicle David Evans, Nov 01, 2006 On November 1, 2006, David Evans presented testimony before the U.S. Department of Justice and Federal Trade Commission at the Public Hearing on Single-Firm Conduct and Antitrust Law Modernization. This viewpoint offers excerpts from his testimony. Some commentators […]

The Law and Economics of Tying

This article is part of a Chronicle. See more from this Chronicle David Evans, Christian Ahlborn, Jorge Padilla, Michael Salinger, Nov 03, 2006 GCP is the occasional publisher of topic-based ebooks — electronic compilations of previously published work by notable competition authories. This GCP collection features the research and insights of several economists and practitioners […]

Economies as an Antitrust Defense: The Welfare Tradeoffs

Apr 01, 2005 In this article, Oliver Williamson sets out the case for taking efficiency gains into account when analyzing allegedly anticompetitive conduct, especially in the case of mergers. The welfare tradeoff model applies most easily to the case of two firms that merge into a monopoly. The analysis begins by recognizing that in the […]

The Limits of Antitrust

Frank Easterbrook, Apr 01, 2005 In this article, Frank Easterbrook sets out the basic components of what has become known as the error-cost framework in antitrust, an approach that has gained influence in recent years. This framework recognizes the possibility that courts will make mistakes in deciding antitrust cases, and that those mistakes will result […]

Predatory Price Cutting: Notes and Comments

Sep 01, 2005 In this article, Professor Yamey reviews the post-war contributions to the literature and analysis of predatory price cutting. While the point has been made frequently in the literature on predatory pricing that the practice makes little sense where entry into the industry in question is easy, the author gives several examples that […]

Predatory Pricing and Related Practices under Section 2 of the Sherman Act

Sep 01, 2005 A firm may reduce its prices in an attempt to destroy its rivals or to deter new entry. Although the Sherman Act has long been construed to prohibit this practice, the case law on predatory pricing has been characterized by vagueness and a paucity of economic analysis. In this Article, Professors Areeda […]

Vertical Restraints and Antitrust Policy: A Reaction to Cooper, Froeb, O’Brien, and Vita

Ralph Winter, Sep 01, 2005 Cooper, Froeb, OBrien, and Vita argue that (1) economic theory, especially post-Chicago theory, provides little in the way of unambiguous predictions of when vertical restraints are pro-competitive versus anticompetitive, forcing antitrust decisions to rely mainly on prior empirical evidence rather than case-specific facts; and (2) prior evidence indicates that vertical […]

An Introduction to Bork (1966)

Douglas Ginsburg, Apr 01, 2006 The Sherman Antitrust Act of 1890, the cornerstone of the U.S. antitrust regime, broadly prohibits contacts, combinations, and conspiracies in restraint of trade and makes it unlawful to monopolize any line of commerce. The open-textured nature of the Act”not unlike a general principle of common law”vests the judiciary with considerable […]

Legislative Intent and the Policy of the Sherman Act

Apr 01, 2006 Despite the obvious importance of the question to a statute as vaguely phrased as the Sherman Act, the federal courts in all the years since 1890 have never arrived at a definitive statement of the values or policies which control the law’s application and evolution. The question of values, therefore, remains central […]

Court of First Instance Upholds Prohibition of General Electric/Honeywell

Shaun Goodman, Apr 01, 2006 On December 14, 2005, the European Court of First Instance (CFI) upheld the European Commission’s 2001 prohibition of a proposed merger between General Electric (GE) and Honeywell (the Decision). The Decision’s partial reliance on conglomerate effects theories had been controversial at the time, and the Commission was criticised in strong […]