Antitrust econlib the library of economics and liberty. The role of competition policy in promoting inclusive growth. Some basic economics suggested reading khan academy, marginal utility. Antitrust law and economics in a nutshell nutshells. Justice department files antitrust lawsuit to block geelectrolux merger pdf. Read online the oxford handbook of international antitrust economics book pdf free download link book now. The commercial function of patents in todays innovation economy. Download the oxford handbook of international antitrust economics book pdf free download link or read online here in pdf. Gates though analogy is often misleading, it is the least misleading thing we have. The text moves fluidly from theory to real world court cases to public policy, making it ideal for upperlevel economics majors or law school courses in. Suppose that the industry is initially competitive, with a price equal to c. Increasing reliance on noncooperative game theory as.
The antitrust economics of multisided platform markets. These two key aspects of modern antitrust law are highly related, for the common economic methodology used in the u. The innovation school of antitrust attempts to remedy that and promises to be a more effective guide for competition policy in the twentyfirst century. Randolph tritell and elizabeth kraus october 2019 randolph tritell is the director, and elizabeth kraus the deputy director for international antitrust, of the federal trade commissions office of international affairs. The bureau of economics is organized with two separate divisions antitrust i and antitrust ii that report to the deputy director for antitrust. The second edition of antitrust economics provides a thorough treatment of the economic theory that both motivates and to varying degrees guides the design and enforcement of the antitrust laws of the untied states. Economics, competition and policy, 6th edition, john kwoka and larry white eds.
Samuel butler economics has come to dominate antitrust jurisprudence. The economics of platform competition has implications for antitrust and regulatory policies in multisided markets. A substantially revised and updated new edition of the leading text on business and government, with new material reflecting recent theoretical and methodological advances. In this book, prominent authors offer 11 contributions that tackle some of the most stimulating topics debated during this oneday event in global antitrust economics. May 02 2020 marketsandhierarchiesanalysisandantitrustimplicationsastudyintheeconomicsofinternalorganization 16 pdf drive search and download pdf files for free. In fact, economics has much in common with philosophy different people have different doctrines. Theory and practice cambridge university press, 2004 mankiw, gregory n. Defining markets and measuring market power jonathan b. Best practices for managing data in antitrust cases the historical data relevant for the case and the burden and the resources needed to collect and extract these files. Antitrust, the internet, and the economics of networks by. The second edition of antitrust economics provides a thorough treatment of the economic theory that both motivates and to varying degrees guides the design and enforcement of the antitrust laws of the united states. Economics of regulation and antitrust, fourth edition.
Given the large costs to the parties flowing from antitrust trials, it is not sur. Introduction 2 1 aims of the lectures antitrust laws play a prominent role in the business environment of many nations. Indeed, if one is a regular reader of the new york times or wall street journal, the chances are good of seeing in any given week at least. Advisors will be in touch with their students periodically during the year, especially to offer reminders of deadlines, meetings, requirements, and other important items. Dec 21, 20 antitrust, the internet, and the economics of networks oxford handbook of international antitrust economics, roger d. The ftcs bureau of economics usually assigns one or more economists to investigate a matter alongside the bureau of competition. Antitrust laws are the laws that apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution and marketing. Searle center conference on antitrust economics and competition policy. As a matter of basic economics, prices are expected to reflect market supply and demand characteristics, one of which is the degree of competition operating on both sides of the market. The necessary political judgment, ideally, is one for congress to make. At the conclusion of an investigation,the bureau of econom. Preserving and enhancing economic welfare in one form or another is now the conceded goal of. Possibly, as carl kaysen has suggested, this would take the form of a prohibition against expansion by merger of the largest 50 or.
Antitrust compliance programs from an economic perspective. The same is true for most other developed nations, as well as for the developing nations that increasingly borrow from the antitrust frameworks of the u. Recently, though, the subject matter of economics has broadened. If this case does not follow recent trends and ends up going to trial, it is likely that the case will be centered around a battle of experts in economics, a field of study consistently criticized for having a poor ability to accurately predict future market behavior. The economics of antitrust policy from cambridge to chicago. This new edition of the leading text on business and government. One might mistakenly think that such a long tradition would mean that there would be little new to say about antitrust economics. Antitrust economics reading list indicates required reading required and recommended textbooks. Interestingly, however, antitrust statutes in the european union also place heavy emphasis on the role of economics. Our analysis finds that antitrust policy makers should not presume that network industries are more subject to monopolization than other industries. These this issue brief describes the ways in which competition between firms can benefit consumers, workers, entrepreneurs, small businesses and the economy more generally, and also describes how these benefits can be. Antitrust law is thus unusual not only in the extent to which it turns on economics, but also in the extent to which that economics is vigorously debated in each case. X, marginal costs of zero, and an entry cost of 116.
Citing relevant legislation and landmark court cases, the text offers a comprehensive analysis of both horizontal and vertical. We can distinguish at least three different approaches. Center for the protection of intellectual property. While we need to abstract from the specific facts to which an individual atcp may be tailored, economics allows us to. Indeed, courts in the us have widely adopted economic analysis as the theoretical foundation for evaluating antitrust concerns. The pendulum swings the initial economic underpinnings of antitrust policy, associated with economists at harvard and mit, arose from the familiar theories of monopoly and cournot oligopoly.
Efforts to banish hypothesis testing in antitrust class actions b y l a i l a h a i d e r, j o h n h. Mobi markets and hierarchies analysis and antitrust. Publication date 1985 topics antitrust law, antitrust law publisher homewood, ill. Typically, the statistical model is a regression model that is. The author is associate professor of economics at the university pennsylvania. In compulsory licensing cases, antitrust authorities usually impose structural remedies such as divestitures, which makes it. Many economists like to portray their field as a science, with economists serving as the sole arbiters of economic truth. Best practices for managing data in antitrust cases. A practical approach to rebates 102 of the tfeu after the. The second edition of antitrust economics provides a thorough treatment of the economic theory that both motivates and to varying degrees guides the design and enforcement of. The views in this paper are their own and not necessarily those of the federal. The clear, accessible prose in antitrust economics explains the theorypolicy cycle and provides thorough analysis of market structure and business conduct as they relate to antitrust policy. Indeed, a hypothetical conversation with a lawyer or economist at a. L e o n a r d dants conduct on all or virtually all members of the proposed class and to calculate proposed class members damages.
Lessons from the economics of incomplete contracts. There is also a customized text which includes the. Because there are few people at the company that are knowledgeable of the decommissioned systems, other sources of information will be important to make an assessment. Antitrust law and economics in a nutshell nutshells gellhorn, ernest, kovacic, william, calkins, stephen on. Each economics concentrator has an advisor that is assigned by house. Suppose also that after the merger, the marginal cost of production falls to c0 and the price rises to p0.
We begin with an overview of the history of the ideas informing u. But many rebate schemes fell between the gaps of these illdefined categories. And unthinking application of formbased rules risked penalising. It shows that businesses often offer a product for free. Antitrust compliance programs from an economic perspective by yajing jiang, stephanie riche, and isabel tecu157 this article analyzes the economic principles and tradeoffs of antitrust compliance programs atcps. Antitrust authorities, namely the department of justice doj and the federal trade commission ftc, are charged with enforcing antitrust laws, challenging anticompetitive mergers, anticompetitive exclusionary conduct, and collusion by competitors. Antitrust economics course reading list competition policy. We will use a reader titled the antitrust revolution. If you are not in class to receive them, i will not provide them to you at a later date. Topics antitrust law, antitrust law publisher homewood, ill. Antitrust litigation has been going through a growth spurt in the past several decades as the result of expanding public enforcement worldwide, active private enforcement in the united states, and initial forays into private enforcement in other areas of the world. All books are in clear copy here, and all files are secure so dont worry about it.
The federal trade commissions international antitrust program. This is an expanded version of these remarks as prepared for delivery. Economics 14 class notes spring 2005 introduction scarcity and choice. The oxford handbook of international antitrust economics. The latter a formbased test, condemning certain categories of rebate without economic evaluation. Perloff, modern industrial organization addisonwesley, 4th ed. The discussion considers the policy implications of various concepts in the economics of networks. Important topics such as monopolies and antitrust, income inequality, economic growth, and the business cycle continue to be central areas of inquiry in economics.
Antitrust economics course reading list competition. Origins before 1890, the only antitrust law was the common law. Economists generally believe that monopolies and other restraints of trade are bad because they usually. Benefits of competition and indicators of market power introduction contours of antitrust law through court decisions. Statistical significance and statistical error in antitrust.
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