Antitrust authorities both in the U.S. and in Europe have analyzed wide parts of the complex mechanisms used in the credit card industry to ensure the functioning of the systems. Such arrangements include the honor-all-cards rule, the no-discrimination rule, the price structures such as the...

This article, which was published in 1985, describes the development of a "Post-Chicago" antitrust policy. The Chicago School of antitrust analysis has made an important and lasting contribution to antitrust policy. The School has placed an emphasis on economic analysis in antitrust...

There is a burgeoning body of consumer scholarship that identifies a consumer-citizen identity, reconstructing the consumer as a social and political actor and not just an economic actor. In food systems dominated by supermarkets, some hail the coming of the consumer-citizen as an antidote to...

There is a large body of research in economics and law suggesting that the legal origins of a country—that is, whether its legal regime is based on English common law or French, German, or Nordic civil law—profoundly impacts a range of outcomes. However, the exact relationship between legal...

Did the anticompetitive conduct in question impact all or nearly all class members? This is a question central to a court's class certification decision. To answer this question, a methodology — known as sub-regressions — is being increasingly employed, particularly by defendants' expert...

The US patent system is a foundation of our nation's economy, encouraging innovation and growth. The exclusive right to use and license an invention provides numerous benefits to its inventor and to the broader economy. The patent system is not costless, however, and significant costs stem from...

This is the first installment of a two-part commentary on the New Brandeis School in Antitrust. In this first part, I examine why the New Brandeis School is correct to reject the consumer welfare standard. Instead of arguing, as the New Brandesians do, that the consumer welfare standard leads to...

Competition law accommodates two different contexts within which economics may be applied, each defined by a distinct type of cause-effect relationships. First, there are effects of competition law on business conduct (deterrence effects), embodying the fact that businesses take into account...

Patent licensing contracts commonly prohibit licensees from challenging the validity of the patents at the basis of the contract or penalize such challenges. A considerable debate has emerged as to whether courts should enforce these challenge clauses. We argue that this debate has not gone far...