We describe a simple initial indicator of whether a proposed merger between rivals in a differentiated product industry is likely to raise prices through unilateral effects. Our diagnostic calibrates upward pricing pressure (UPP) resulting from the merger, based on the price/cost margins of the...

Change is in the air and it is coming to antitrust and competition policy in the United States. The unexpected election of President-elect Donald J. Trump opened wide the speculation or mystery about what he and his advisors are planning concerning his administration's antitrust policy. During...

Although antitrust courts sometimes stress the competitive process, they have not deeply explored what that process is. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers forming improving coalitions. Much of antitrust can be...