Towards a Theory of Market Power

This paper analyzes the question of market power. Longstanding definitions and analytical tools are inadequate because they conflate conditions under which a firm has unbeneficial control over its markets (market power) with situations where firms are successful because they are superior in how they serve customers (expanding consumer welfare).

Merger Lore: Dispelling the Myth of the Maverick

The idea of the maverick firm requires that the firm play a critical role in the market. The maverick must be the firm that outflanks coordinated action or acts as a bulwark against unilateral action. By this loosey goosey definition of maverick, a single firm can make the difference between success or failure of anticompetitive behavior by its competitors.

The Continued Viability and Flexibility of the Consumer Welfare Standard (FTC Hearings, ICLE Comment 6)

FTC Hearings on Competition & Consumer Protection in the 21st Century. Comments of the International Center for Law & Economics: The Continued Viability and Flexibility of the Consumer Welfare Standard, and the Weakness of Its Alternatives. Hearing # 5 (Nov. 1, 2018). Submitted December 31, 2018.
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