The two central pricing rules contained in most antirust laws are prohibitions of below-cost pricing and prohibitions of discriminatory pricing. This article shows that the rule against discriminatory pricing may actually induce firms to charge exclusionary below-cost prices, even in the...

In its landmark ruling in Illinois Brick Co. v. Illinois in 1977, the U.S. Supreme Court restricted standing to sue for recovery of antitrust damages to direct purchasers. However, antitrust damages are typically (in part) passed on to intermediaries lower in the chain of production and...

This paper undertakes a statistical analysis of the fines imposed on 168 firms in 22 cartels prosecuted by European Commission under the 2006 Penalty Guidelines, leniency notice, settlement process, and the courts on appeals over the period 2007 to 2010. It looks closely at how the Commission...

Cartel ringleaders can apply for amnesty in some jurisdictions (e.g., the E.U.), whereas in others they are excluded (e.g., the U.S.). This paper provides a survey of identified ringleaders in recent European cartel cases and explores theoretically the effect of ringleader exclusion on collusive...

Cartel ringleaders can apply for amnesty in some jurisdictions (e.g., the E.U.), whereas in others they are excluded (e.g., the U.S.). This paper provides a survey of identified ringleaders in recent European cartel cases and explores theoretically the effect of ringleader exclusion on collusive...

The following is a compilation of short book reviews I have prepared over the past two years for the World Competition Law & Economics Review or the Institute for Consumer Antitrust Studies, Loyola University Chicago School of Law website. In one case, the book discussed was published in 2010,...

The Merger Guidelines released in March 2008 by the Australian Competition and Consumer Commission (ACCC) provide a guide to the analytical approach the ACCC intends to adopt to assessing mergers for the purposes of s.50 of the Trade Practices Act. The new Guidelines do a relatively good job in...

Platform businesses that facilitate connections between different stakeholders play an increasingly prominent role in the economy. In 2018, the U.S. Supreme Court issued a seminal decision, Ohio et. al. v. American Express, on the analysis of antitrust issues involving these sorts of businesses....

We present a model of a market failure based on a requirement provision by digital platforms in the acquisition of personal information from users of other products/services. We establish the economic harm from the market failure and the requirement using traditional antitrust methodology....

Using a sample of modern international cartels, we analyze the level and determinants of cartel sanctions imposed on the participants of these cartels in a number of antitrust jurisdictions. There is empirical evidence suggesting that gains from collusive conduct outweigh its costs represented...