In 2008, the European Commission investigated E.ON, a large and vertically integrated electricity company, for the alleged abuse of a joint dominant position by strategically withholding generation capacity. The case was settled after E.ON agreed to divest 5,000 MW generation capacity as well as...

Antitrust has returned to the national agenda. Leading Senators, progressiveorganizations, and many scholars are calling for stronger antitrust enforcement.One important step, overlooked in the discussion to date, is to reform howmarket power—an essential element in most antitrust...

As is well known among financial economists but not previously recognized within the antitrust community, large and diversified institutional investors such as BlackRock, Fidelity, State Street, and Vanguard collectively own roughly two-thirds of the shares of publicly traded U.S. firms overall,...

In 2008, the European Commission investigated E.ON, a large and vertically integrated electricity company, for the alleged abuse of a joint dominant position by strategically withholding generation capacity. The case was settled after E.ON agreed to divest 5,000 MW generation capacity as well as...

We analyze the consequences of shuttering four Antitrust Division field offices by the U.S. Department of Justice in 2013 on corporate market power. Contrary to most criticism, we find little evidence that the closure of field offices cripples local antitrust law enforcement. We document that...