Two principles collide in the pharmaceutical industry. On the one hand, the U.S. Food and Drug Administration (“FDA”) approves potentially dangerous drugs under Risk Evaluation and Mitigation Strategies (“REMS”) programs when a drug's benefits outweigh its risks. But on the other hand,...

Rising drug prices are in the news. By increasing price, drug companies have placed vital, even life-saving, medicines out of the reach of consumers. In a recent development, brand firms have prevented generics even from entering the market. The ruse for this strategy involves risk-management...

We discuss the question whether competition policy should provide entrants with special protection in the Indian competition law context. Under an effects based approach, competition enforcement should to protect consumers rather than the interests of individual competitors. Entrants deserve...

With three waves of internal energy market legislation already adopted and a fourth just tabled, a key question is “do we have an institutional structure that can effectively deliver the ambitious goals of the EU energy and climate change policy?”. To answer this question, the chapter...

When competition authorities struggle to assess abusive practices by online multi-sided platforms, the issue does not appear to be defining markets or determining market power; rather, the difficulty is finding a fitting theory of abuse. In the search for such theories, one candidate has been...

Politicians connected to elites who anticipated benefiting from the 1866 Post Roads Act overcame the problem of collective action and passed pro-consumer legislation over the objections of a concentrated economic interest. Mancur Olson's (1965, 1982) theory on the cost of collective action...

Undertakings may restrict competition by cooperating with their competitors or by interfering with their ability to compete. In both cases, their ultimate goal is to raise the price they charge for their products or services. Therefore, the main concern about both collusive and exclusionary...

This paper provides an economic and legal theory of harm applicable to the case against Google in Europe over search bias. So far, no clear legal and economic theory has yet been delineated by the European Commission, nor consensus in the literature has emerged with regard to the theory of...