This paper considers the recent literature on firm markups in light of both new and classic work in the field of Industrial Organization. We detail the shortcomings of papers that rely on discredited approaches from the "structure-conduct-performance" literature. In contrast, papers based on...

Section 5 of the FTC Act prohibits “unfair methods of competition in or affecting commerce.” More than one hundred years after Congress created the Federal Trade Commission and gave it broad authority to prohibit “unfair methods of competition,” the FTC had yet to define what constituted...

As merging parties can choose whether to notify their transaction in the UK, the competition authority has a well-developed procedure for capturing those that are not notified but may raise concerns. The resulting own-initiative investigations account for a significant proportion of overall UK...