” Dynamic Competition” Does Not Excuse Monopolization

Jonathan Baker, Nov 01, 2008 In the 2004 Trinko decision, Justice Antonin Scalia, writing for the Supreme Court, depicted “monopoly power, and the concomitant charging of monopoly prices” as “an important element of the free-market system.” Scalia argued that “the opportunity to charge monopoly prices—at least for a short period . . . induces risk […]

Economic Considerations Raised by the Federal Trade Commission’s Investigation of Google’s Search Practices

Robert Levinson, Michael Salinger, Jan 30, 2015 In January 2013, the Federal Trade Commission closed its nineteen-month antitrust investigation into Google’s search practices. The primary issue in that investigation was Google’s use of Universal Search results. The argument that Google’s display of Universals violated the antitrust laws appeared to rest on a theory of vertical […]

Appropriating the Returns from Industrial Research and Development (1950)(reprint)

Dec 20, 2013 To have the incentive to undertake research and development, a firm must be able to appropriate returns sufficient to make the investment worthwhile. The benefits consumers derive from an innovation, however, are increased if competitors can imitate and improve on the innovation to ensure its availability on favorable terms. Patent law seeks […]

An Introduction to Appropriating the Returns from Industrial Research and Development

David Evans, Dec 20, 2013 There are several areas of economics where we know much more today than we did 50 years ago as a result of the accumulation of empirical research. More needs to be done, and much remains debated, but economists have made real progress in behavioral economics, labor economics, and financial economics. […]

How Chinese Antitrust Law Has Affected the Business Operations in China: Perspective of Life Science Industry

Jan 07, 2014 CPI Asia Column edited by Vanessa Yanhua Zhang (Global Economics Group) presents: How Chinese Antitrust Law Has Affected the Business Operations in China: Perspective of Life Science Industry – Jet Deng and Ken Dai (Partners, Beijing Dacheng Law Offices, LLP)* Click here for a pdf version of this article. Introduction by editor […]

The Next Big Thing

Allen Grunes, Dec 12, 2012 Pop quiz: What do antitrust cases involving the leading PC operating system, a national association’s rules about real estate listings, and a joint venture between a cable company and a movie studio have in common? Hint: Not the statute involved. One was Sherman, one was Sherman and one was Clayton. […]

The Revised EU Competition Rules for Production and R&D Agreements Create a More Coherent Framework of Assessment and Provide Better Guidance to Companies

Axel Gutermuth, Feb 14, 2011 On December 14, 2010, the European Commission adopted revised EU competition rules for production agreements, research and development agreements, and other types of commercial cooperation agreements between competing undertakings. The revised block exemption regulations for research and development agreements (“R&D BER”) and specialization agreements (“Specialization BER”) and the revised Horizontal […]

Continuity and Change in the 2010 Merger Guidelines

Malcolm Coate, Joseph Simons, Oct 28, 2010 For almost 30 years, the U.S. antitrust enforcement agencies have described a structured, step-by-step analytical methodology in their Merger Guidelines. Prior revisions to the Guidelines were designed, in significant part, to clarify actual practice at the agencies in light of historical experience, while keeping the underlying methodology intact. […]

Revising the Merger Guidelines: Looking Back to Move Forward

This article is part of a Chronicle. See more from this Chronicle Deborah Feinstein, Dec 16, 2009 The Federal Trade Commission and Department of Justice have announced plans to consider revising the Horizontal Merger Guidelines “in light of changes in economic learning, the case law, and practice at the Antitrust Division and the FTC. There […]

Antitrust, Economics, and Innovation in the Obama Administration

This article is part of a Chronicle. See more from this Chronicle Joshua Wright, Nov 25, 2009 The strength of antitrust doctrine has been its ability to incorporate economic thought and empirical evidence over time. The consumer benefits from that incorporation are well known and uncontroversial. But change in economic thought can be slow. And […]