Perhaps no living person has had greater influence on US antitrust doctrine than Herbert Hovenkamp. In fleshing out the sparse US antitrust statutes over the course of his distinguished career, Professor Hovenkamp has embraced four guiding principles: that antitrust’s goal is to promote...

This paper evaluates the recent literature claiming that the US economy has generally become less competitive causing the US economy to perform poorly and that lax antitrust policy is one important reason for the decline in economic performance. Although there certainly are empirical facts...

We submit these comments to the Federal Trade Commission and the U.S. Department of Justice in their review of the Horizontal Merger Guidelines. The Agencies ask, in Question 8: “Should the Guidelines be revised to explain more fully than in the current §1.521 how market shares and market...

After two years of litigation, the Department of Justice (DOJ) and the 19 states suing Microsoft have proposed draconian remedies (Plaintiffs Proposed Final Judgment 2000, hereafter, PPFJ) to address the violations of the Sherman Act found by Judge Thomas Penfield Jackson (Conclusions of Law...

As part of their investigation of competition in digital markets, members of the Judiciary Committee of the U.S. House of Representatives solicited the views of a number of antitrust scholars on whether existing U.S. antitrust laws are adequate to address contemporary competition concerns. This...

Predatory pricing occurs where a firm deliberately sets prices below cost to eliminate, discipline or deter entry by a competitor, with the goal to subsequently recoup its losses by charging supra-competitive prices. China's Anti-Monopoly Law, Anti-Unfair Competition Law and Price Law contain...

We study an infinitely-repeated game of oligopolistic price leadership in which one firm, the leader, proposes a supermarkup over Bertrand prices to a coalition of rivals. We estimate the model with aggregate scanner data on the beer industry and find the supermarkup accounts for 6% of price....

This paper examines the issue of market foreclosure by airline partnerships with antitrust immunity. Overlapping the data on frequency of service and passenger volumes on nonstop routes on the transatlantic airline market with the information on dynamics of airline partnerships, we find evidence...