Since 1932, when Justice Louis Brandeis remarked that in a federal system states can serve as "laboratories" of democracy, political decentralization has been thought to stimulate policy experimentation. We reexamine the political economy behind this belief, using a simple model of voting in...

This paper argues that drugs are expensive not because of a lack of competition among research-based pharmaceutical companies, but because of a lack of competition in the drug approval process. Lack of competition in the drug approval process has led to exceedingly high drug development costs....

In this paper, we argue that lower prices for pharmaceuticals can be achieved by fostering a new type of competition in the pharmaceutical industry. Lower drug development costs, and hence prices, can be brought about by abolishing national drug administrations and replacing them with private...

The purpose of the European internal market is to allow all firms in the Union to compete freely, without artificial barriers built up to protect them. The Treaty provisions and the subsequent case law are quite comprehensive and they are meant to eliminate restrictive regulatory barriers,...

Harold Demsetz once claimed that 'economics has no antitrust relevant theory of competition.' Demsetz offered this provocative statement as an introduction to an economic concept with critical implications for the antitrust enterprise: the multi-dimensional nature of competition. Competition...

This essay is the introduction to a forthcoming volume entitled, Regulating Innovation: Competition Policy and Patent Law Under Uncertainty (Cambridge U. Press 2009 forthcoming). In addition to introducing all of the papers in the volume, this essay introduces the organizing themes of the...

DRMs are intellectual property institutions. They transpose the empirical principle of copyright, which implicitly recognizes that specific ownership rules should be attached to non scientific creation, into the digital era. The legal protection of DRMs, a private means of enforcing content...

This article examines the intersection of antitrust and intellectual property law, critiquing the government's approach and proposing amendments to current standards. In particular, this article focuses on the U.S. Department of Justice and Federal Trade Commission's treatment of innovation...

As the pace of technological-based disruption across industries accelerates, static models of regulatory analysis and decision-making become increasingly counter-productive. This article proposes a more pragmatic, "results-based regulation" framework and applies it to what has become the most...

Portuguese Abstract: A estrutura da internet é composta por códigos, os quais regem as relações dentro da rede. Apesar de desenvolvida para não ser regulada, a internet não está vinculada ao parâmetro pelo qual se deixava reger quando da sua criação. A neutralidade de rede não é um...