In March of 2000 the New York Stock Exchange proposed a merger with The Nasdaq Stock Market. Applying a qualitative assessment to the proposed merger from the organizations' perspective it is argued that the merger would be favorable for both organizations. Applying a quantitative assessment to...

Myths matter. This Article is the first to confront a powerful myth that pervades modern economic, technological, and legal discourse: the Myth of Free. The prevailing view is that consumers enjoy massive welfare surplus from a flood of innovative new products that are offered free of charge...

The central claim of this Article is that, as a descriptive matter, trademark legislation and court interpretation is a close normative match with the Chicago School approach of scholars such as Robert Bork and Richard Posner. The organizing intellectual structure of modern trademark law, as...

This paper studies Tesoro's 2013 acquisition of British Petroleum's Los Angeles refinery. We present a merger simulation model tailored to the gasoline market, which includes Cournot firms and a price-taking fringe. This hybrid model generates margins that are more plausible than those generated...

The award of the Nobel Prize in Economics to Professor Jean Tirole in 2014 has generated intense interest about his brainchild theory of two-sided markets. Against this background, this paper explores whether there is such a thing as a unified theory of two-sided markets and whether the...

In this review of retrospective European merger studies we provide a discussion of the price effect of analysed mergers and examine whether the antitrust agency made the right decisions. We find that remedied mergers, on average, were not followed by a price-increase, suggesting that, in our...

Concentration has increased over the last 30 years or so in a variety of industries. This development has raised concern about weakened competition and resulting harm to consumers. Calls for tougher antitrust enforcement have become louder. There is also concern that rising concentration may be...

As technology and interconnectivity have continued to flourish, so too has an important and complex form of enterprise: the platform. Services like Uber, Google Search, Hulu, and American Express cater to distinct but deeply-interdependent “sides” of customers that derive value or revenues...

The SSNIP test and Critical Loss Analysis are widely used tools for determining market definition in merger and sometimes other antitrust matters. However, the standard techniques used to test for a relevant antitrust market are incorrect when the firms in question operate two-sided platforms....

A multi-sided platform (MSP) serves as an intermediary for two or more groups of customers who are linked by indirect network effects. Recent research has found that MSPs are significant in many industries and that some standard economic results - such as the Lerner Index - do not apply to them,...