In its early days antitrust policy was motivated largely by public fears regarding economic power, the excess influence owners of large businesses might exert over political and commercial markets. Over time, antitrust enforcement has come to focus exclusively on market power, the ability to...

“Free” products have exploded in popularity along with widespread Internet adoption—but many of them are not truly free. Customers often trade their attention or personal information to access zero-price products. This exchange dynamic brings zero-price markets within the scope of...

Algorithms, especially those based on artificial intelligence, play an increasingly important role in our economy. They are used by market participants to make pricing, output, quality, and inventory decisions; to predict market entry, expansion, and exit; and to predict regulatory moves. In a...

The effects of mergers on the media marketplace have historically failed to live up to dire predictions. Mergers are often a response to technological upheaval and turbulence in the media industry and firms should be allowed to experiment with such alternative business models with the intent on...

I analyze cliff discounts when an incumbent monopolist faces competition from a competitor that can compete for a portion (but not all) of the market, and compare them with both simple pricing and pricing formulas in which the incumbent can cut prices just in the competitive portion of the...

I propose an economic framework for analyzing innovation effects of nascent competitor acquisitions. The framework identifies nine factors as key determinants of innovation effects. These factors are: replacement, nascent market size, synergies, appropriability, nascent market competition,...

The antitrust laws are increasingly used to prosecute alleged acts of market manipulation, particularly against firms in the banking and energy industries. Both industries are now regulated subject to fraud-based market manipulation rules, but antitrust remains a vehicle on which private claims...

This is a draft of an article that will be published - after some editorial revision - in the Journal of Governance and Regulation. It discusses first the differences between market economic models, socialist or planned economies, and economies controlled by monopolies or cartels, to make the...

The theoretical framework of the adequacy or otherwise of fine reductions under the EU and US Leniency Programmes has been explored widely. However, the characteristics of the reporting cartel members remain unexplained. This is the first paper to develop a model where cartel members are...

In this paper I set forth an antitrust remedy for the oligopolistic pricing problem. Oligopoly pricing resembles a repeated prisoners' dilemma game. Each firm has an incentive to moderately lower its price and thus increase its sales at its competitors' expense. However, each firm knows that its...