We develop a methodology that quantifies from data on itinerary demand consumers' valuations of the characteristics of airline networks, and show that airline network effects are highly valued. We show that these effects are crucial for determining consumer impacts of public policies that affect...

In comparison to the prior Guidelines, the 2010 Guidelines: (i) de-emphasized market definition; (ii) introduced the concept of upward price pressure (UPP) explicitly into the Guidelines; (iii) maintained focus on potential harm from “coordinated effects” despite what appeared to be its...

AT&T and Time Warner is the U.S. Department of Justice's first vertical merger challenge in decades. The merging parties hired us initially to provide economic analyses of the antitrust issues raised by the merger and ultimately to assist with and testify in the litigation. There are three keys...