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TOTM In over a century of existence, the U.S. Federal Trade Commission (FTC) has been a policy leader in developing American thinking about and in enforcing . . .
In over a century of existence, the U.S. Federal Trade Commission (FTC) has been a policy leader in developing American thinking about and in enforcing antitrust and consumer protection laws pursuant to several specific statutory mandates. It has also promulgated a substantial number of consumer protection rules, dealing with a wide variety of practices. It has almost never, however, enacted substantive rules seeking to regulate specified forms of business conduct that affect competition in the marketplace.
Read the full piece here.
Scholarship Intermediaries emerge when it would otherwise be too difficult (or too costly) for groups of users to meet and interact. There is thus no guarantee that government-mandated disintermediation — such as that contemplated in the European DMA and the U.S. AICOA bill — will generate net benefits in a given case.
Intermediaries may not be the consumer welfare hero we want, but more often than not, they are one that we need. Policymakers often assume that intermediaries and centralization serve as a cost to society, and that consumers are better off when provided with “more choice.” Concrete expression of this view can be found in regulatory initiatives that aim to turn “closed” platforms into “open” ones (see, in Europe, the Digital Markets Act; and in the United States, the Open App Markets Act and the American Innovation and Choice Online Act). Against this backdrop, we explain that, as with all economic goods, intermediation involves tradeoffs. Intermediaries emerge when it would otherwise be too difficult (or too costly) for groups of users to meet and interact. There is thus no guarantee that government-mandated disintermediation — such as that contemplated in the European DMA and the U.S. AICOA bill — will generate net benefits in a given case. The ongoing Epic v Apple proceedings are a good example of why it is important to respect the role of intermediaries in digital markets, and the unique benefits intermediation can bring to consumers. The upshot is that intermediaries are far more valuable than they are usually given credit for.
Read the full issue brief here.
Presentations & Interviews ICLE Director of Law & Economics Programs Gus Hurwitz joined Steptoe & Johnson’s The Cyberlaw Podcast to discuss the American Data Privacy and Protection Act’s . . .
ICLE Director of Law & Economics Programs Gus Hurwitz joined Steptoe & Johnson’s The Cyberlaw Podcast to discuss the American Data Privacy and Protection Act’s legislative prospects. The full episode is embedded below.
Scholarship Abstract In the first quarter of 2022, the Stanford Computational Antitrust project team invited the partnering antitrust agencies to share their advances in implementing computational . . .
In the first quarter of 2022, the Stanford Computational Antitrust project team invited the partnering antitrust agencies to share their advances in implementing computational tools. Here are the results of the survey.
Popular Media When campaigning for his progressive income tax, Illinois Gov. J.B. Pritzker argued it was needed to address “income inequality” and fund education and social services. . . .
When campaigning for his progressive income tax, Illinois Gov. J.B. Pritzker argued it was needed to address “income inequality” and fund education and social services.
Although voters rejected the tax hike, Pritzker has succeeded in reducing income inequality without it. He did so by driving away the state’s wealthiest person.
Billionaire investor Ken Griffin and his family are moving to Florida.
TOTM The European Union’s Digital Markets Act (DMA) has been finalized in principle, although some legislative details are still being negotiated. Alas, our earlier worries about user . . .
The European Union’s Digital Markets Act (DMA) has been finalized in principle, although some legislative details are still being negotiated. Alas, our earlier worries about user privacy still have not been addressed adequately.
TOTM Just three weeks after a draft version of the legislation was unveiled by congressional negotiators, the American Data Privacy and Protection Act (ADPPA) is heading to its . . .
Just three weeks after a draft version of the legislation was unveiled by congressional negotiators, the American Data Privacy and Protection Act (ADPPA) is heading to its first legislative markup, set for tomorrow morning before the U.S. House Energy and Commerce Committee’s Consumer Protection and Commerce Subcommittee.
Regulatory Comments Abstract This comment by 25 law professors, economists and former United States government officials was submitted to the European Union Commission in response to a . . .
This comment by 25 law professors, economists and former United States government officials was submitted to the European Union Commission in response to a “call for evidence” on the licensing, litigation, and remedies of standard-essential patents (SEPs). It details the principal concepts and substantial evidence relating to the constructive role of SEPs in efficiently promoting innovation and structuring commercialization activities in high-tech devices generally and the mobile revolution specifically. It also addresses widespread misunderstandings and misstatements about the commercialization and litigation of SEPs. It broadly makes three points.
First, in contrast to the evidence of the positive role of SEPs in promoting innovation and commercialization in wireless technologies, no published empirical study has found evidence of the predicted marketplace effects of “holdup” or “royalty stacking” theories, such as higher prices, less innovation, and less market competition in smartphones. Second, contrary to claims by some commentators that courts do not issue injunctions for the infringement of SEPs, the comment reviews some representative decisions from the substantial case law in Europe in which SEP owners have requested or obtained injunctions against implementers engaging in holdout tactics. Third, it explains how courts have consistently held that the fair, reasonable, and non-discriminatory (FRAND) commitment by SEP owners does not mandate a “license to all” rule nor that reasonable royalties be calculated according to the “smallest salable, patent practicing unit” (SSPPU) standard. These court decisions are consistent with the economic function and evidence of SEP licensing on FRAND terms.
The mobile revolution has created unparalleled economic and technological growth over the past three decades. So long as courts provide robust enforcement of intellectual property rights, and do not impede the licensing and other contracts predicated on those rights, there is every reason to believe that the mobile market will continue to thrive. The comment concludes with an Appendix listing the substantial, published literature addressing both the success of the SEP-based sector of the global innovation economy and the numerous substantive and methodological flaws in “holdup” and “royalty stacking” theories.
Popular Media As Congress faces the possibility of a worldwide recession, historic inflation, pandemic recovery and supply chain issues – they should avoid increasing tariffs at all . . .
As Congress faces the possibility of a worldwide recession, historic inflation, pandemic recovery and supply chain issues – they should avoid increasing tariffs at all costs. Although tariffs might seem like a helpful tool – often they cause real damage by stifling trade and raising the prices of imports. Oregonians, like most Americans, are trying to find ways to make ends meet and the last thing they need is for costs to go up and that is exactly what Congress is considering right now.
