Using the overcharge estimates for 333 cartel episodes, we evaluate the impact of cartel characteristics and changes in the market and legal environment on the magnitude of overcharges imposed by private cartels in the US and other geographic markets as early as the 18th century. The median...

Consolidation and increased concentration in the agrifood sector over the past two decades, combined with an increased use of alternative marketing agreements in the poultry and livestock industries, have fueled concerns of anti-competitive behavior among large agribusinesses such as the major...

Antitrust law and telecommunications regulation have long adopted different stances on whether to mandate open access to information platforms. This article aims to help regulators and commentators incorporate both Chicago School and post-Chicago School arguments in evaluating this basic policy...

"Two-sided" markets have two different groups of customers that businesses have to get on board to succeed - there is a "chicken-and-egg" problem that needs to be solved. These industries range from dating clubs (men and women), to video game consoles (game developers and users), to credit cards...

Price dynamics are characterized when a price-fixing cartel is concerned about creating suspicions of the presence of a cartel. A dynamical extension of static models yields the counterfactual prediction that the cartel initially raises price and then gradually lowers it. An alternative...

"Two-sided" markets have two different groups of customers that businesses have to get on board to succeed - there is a "chicken-and-egg" problem that needs to be solved. These industries range from dating clubs (men and women), to video game consoles (game developers and users), to credit cards...

We consider separately strategic entry and asymmetric information in the design of the settlement policy governing patent disputes, with a focus on Shapiro(2003)'s consumer protection rule. We show that, when a potential entrant strategically incurs an entry cost before engaging in a patent...

Sanjukta Paul and Hal Singer (P&S) responded to my recent CPI Comment, “News Media Cartels are Bad News for Consumers,” which addressed the likely harm that would arise from the proposed Journalism Competition and Preservation Act, if passed. P&S criticize my conclusion that the legislation...

Since the introduction of a formal commitments procedure in EU antitrust policy (Article 9 of Council Regulation 1/2003), the European Commission has extensively settled cases of alleged anticompetitive practices. In this paper, we use a formal model of law enforcement (Bebchuk, 1984; Shavell, 1988)...