. Our findings inform the debate over whether antitrust enforcement has been lax …

computationally, allows firms to invest or propose mergers according to the relative profitability of these strategies. An antitrust … authority is able to block mergers at some cost. We examine the optimal policy when the antitrust authority can commit to a … antitrust authority. We find that optimal policy can differ substantially from what would be best considering only welfare in …

We hand-collect and standardize information describing all 3,055 antitrust lawsuits brought by the Department of … economic outcomes of a non-tradable industry in states targeted by DOJ antitrust lawsuits to outcomes of the same industry in … other states that were not targeted. We document that DOJ antitrust enforcement actions permanently increase employment by 5 …

Antitrust enforcement in the United States has declined since the 1960s. Building on several new datasets, we argue … antitrust law in confirmation hearings. We find little evidence that academic ideas played an important role in the decline of … antitrust enforcement except where they coincided with the interests of big business, which appears to have exercised influence …

In The Antitrust Paradox, Robert Bork viewed most mergers as either competitively neutral or efficiency enhancing. In … The Antitrust Paradox. Many of Bork's recommendations have been implemented over time and have improved merger analysis …

We analyze the optimal dynamic policy of an antitrust authority towards horizontal mergers when merger proposals are … potential future mergers, the characteristics of which may not yet be known to the antitrust authority. We show that, in many … cases, this apparently difficult problem has a simple resolution: an antitrust authority can maximize discounted consumer …