Market definition and market power are central features of competition law and practice but pose serious challenges. On …

This article analyzes corruption of law enforcement agents: payment of bribes to agents so that they will not report … violations. Corruption dilutes deterrence because bribe payments are less than sanctions. The state may not be able to offset … detect and penalize corruption. At the optimum, however, corruption may not be deterred. Nonetheless, it may be desirable to …

obstacles associated with corruption and weak institutions. We model these circumstances in a principal-agent framework with … economic corruption as an indicator of the strength of property right enforcement within a given country. We compare corruption … levels for a large cross section of countries in 1989 to subsequent FDI flows from 1990 to 1999. We find that corruption is …

Competition in many important industries centers on investment in intellectual property. Firms engage in dynamic …, Schumpeterian competition for the market, through sequential winner-take-all races to produce drastic innovations, rather than … through static price/output competition in the market. Sound antitrust economic analysis of such industries requires explicit …

Open borders imply systems competition. This paper studies the implications of systems competition for the national … competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since …

In this paper we review issues relating to antitrust and competition in health care markets. The paper begins with a … ways that might affect the optimality of competition. The paper then focuses on the main areas in which antitrust has been …