The recent Microsoft antitrust case had many profound implications, one of which was possible insight into the changing role of economics in antitrust. Microsoft started out as a "post-Chicago" theoretical case in which game theory and asymmetric information models suggested the software firm...

On September 30, 2015, the United States Court of Appeals for the Ninth Circuit held in O’Bannon v. National Collegiate Athletic Association that the National Collegiate Athletic Association (“NCAA”) violated Section 1 of the Sherman Act by prohibiting member colleges from offering their...

Is there a problem with large technology firms, or platforms, purchasing nascent competitors and suppressing competition before they can mature into vibrant competitors? Further, if there is a problem, are the current antitrust laws and the enforcement of those laws sufficient to combat the...

The problem of high pharmaceutical drug prices is a permanent object of global political debate. Nowadays this debate encompasses many different types of drugs, from innovative products and biologics to generic ones. Antitrust enforcement has traditionally targeted anticompetitive behaviour in...

A reform movement is underway in antitrust. Citing prior enforcement failures, deviations from the original intent of the antitrust laws, and overall rising levels of sector concentration, some are seeking to fundamentally alter or altogether replace the current consumer welfare standard, which...

The Profit Paradox by Jan Eeckhout has arguably been one of the most important and at the same time most heavily debated economics books in recent years. Therefore, The Profit Paradox can be highly recommended to anyone interested in the analysis of market power as well as the future development...

We analyze a model where an antitrust authority delegates to an audit inspector the mission of gathering the sufficient information to condemn a cartel. The authority has two instruments at her disposal: rewarding the inspector with a proportion of the collected fine or providing him with...

Surrounding the passage of Dodd-Frank, a noted author argues that existing market manipulation statutes cannot effectively prosecute manipulation cases because the statutes prohibit fraud, not market power. This is incorrect. While traditional economic theory can explain the incentives...

The CFTC adopted new market manipulation rules on July 7, 2011. In addition to retaining the Commission's existing anti-manipulation authority under the CEA's "artificial price" standard, these rules give the Commission the ability to bring enforcement actions under a "fraud-based" standard...

In this paper, we present a straightforward economic model that explains the incentives to manipulate nodal energy prices in a “Day 2” RTO market. The model distinguishes between legitimate market participation that increases overall market efficiency and manipulative behavior that distorts...