In a recent article published in this journal, Jon Dubrow examines the acquisitions of passive minority equity interests. The focus of his article is the treatment of these transactions by the courts and the federal antitrust agencies, including their treatment of the investment-only exemption...

One strand of the Neo-Brandeisian critique of traditional antitrust involves the permissive approach to exploitative pricing. Exploitative pricing by powerful firms with durable, but legitimately obtained market power, including non-innovative oligopolists that succeed in coordinating prices...

The consumer welfare standard is damaged goods. Its days are numbered. My choice for a replacement is the “Reasonable Competitive Conduct” (“RCC”) standard. The RCC is a hybrid standard that shares some concerns and features of these other standards, including a concern about dominating...

This article seeks an answer to a question that should be well settled: for purposes of antitrust analysis, what is 'market power' and/or 'monopoly power'? The question should be well settled because antitrust law requires proof of actual or likely market power or monopoly power to establish...

We present a model of ordered bargaining between one buyer and several sellers, with Nash bargaining at each stage. We first show that the model has the property that the buyer's payoff equals the expected utility of a weighted sum of independent Bernoulli random variables. We then exploit this...

How should the views of individual judges on an appellate panel be combined to reach a decision in any particular case. Oddly enough, there has been comparatively little attention paid to this very fundamental question, notwithstanding the fact that there are (at least) two very different...

There seems to be consensus that the Department of Justice's 1984 Vertical Merger Guidelines do not reflect either modern theoretical and empirical economic analysis or current agency enforcement policy. Yet widely divergent views of preferred enforcement policies have been expressed among...

In reliance on Qualcomm's FRAND promises, key SSOs incorporated its technologies into wireless standards. Qualcomm takes the position that its patented technologies are essential to those standards and, therefore, that any firm making or selling a standard-compliant product infringes its...