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TOTM According to the Wall Street Journal, the FTC is investigating whether retailer Toys-R-Us has violated the antitrust laws by inducing certain manufacturers to set minimum . . .
According to the Wall Street Journal, the FTC is investigating whether retailer Toys-R-Us has violated the antitrust laws by inducing certain manufacturers to set minimum resale prices for their products (i.e., to engage in resale price maintenance, or “RPM”).
Read the full piece here.
TOTM Volume 16, Issue 4 of the George Mason Law Review (which I received in my mailbox today) has a well timed issue from its antitrust . . .
Volume 16, Issue 4 of the George Mason Law Review (which I received in my mailbox today) has a well timed issue from its antitrust symposium featuring several articles on revisions to the Merger Guidelines. Especially recommended is DOJ economist Greg Werden’s article here, which usefully sets the stage for some of the important debates. Here is a key excerpt from Werden’s analysis, which I think can fairly be interpreted as coming out “against” revision…
TOTM The possibility of new Merger Guidelines has been much discussed in the antitrust community, particularly in light of appointment of the two new chief agency . . .
The possibility of new Merger Guidelines has been much discussed in the antitrust community, particularly in light of appointment of the two new chief agency economists, Carl Shapiro and Joe Farrell, who have done substantial work on the economics of horizontal mergers and market definition. Today, the FTC and DOJ announced a series of workshops and period for public comment to explore potential revision of the Guidelines…
Popular Media A big chunk of the fraudulent advertising (diet, exercise, work-at-home, credit repair) prosecuted by the FTC involves a testimonial advertisement that mentions a number, e.g., . . .
A big chunk of the fraudulent advertising (diet, exercise, work-at-home, credit repair) prosecuted by the FTC involves a testimonial advertisement that mentions a number, e.g., “I lost 74 pounds wearing slimming insoles.” Some consumers do not seem to understand that the results for the endorsers may not be typical, despite the disclaimer required by the FTC, “results not typical.”
TOTM Having just had four wisdom teeth pulled this morning at age 32, about ten years after the dentist first recommended it, the dental services market . . .
Having just had four wisdom teeth pulled this morning at age 32, about ten years after the dentist first recommended it, the dental services market is on my (anesthesia fogged) mind this afternoon. But it reminded me of a post I wanted to write highlighting the efforts of the FTC Office of Policy and Planning for their latest comments (a few months old, but worth noting) to the legislature of Louisiana on a pending bill (HB 687) that would restrict competition and entry in the dental market in that state.
TOTM Commissioners Rosch and Kovacic of the Federal Trade Commission come out against the proposed CFPA. Both emphasize the risk of shifting consumer protection authority away . . .
Commissioners Rosch and Kovacic of the Federal Trade Commission come out against the proposed CFPA. Both emphasize the risk of shifting consumer protection authority away from an agency with substantial expertise in the area (including the Bureau of Economics which has an excellent record of reports and publications in this area) to an unproven agency. Commissioner Kovacic ends his statement noting the potential for conflict in interpreting and enforcing consumer protection law as well as questioning the whether the CFPA commitment to “plain vanilla” products will improve welfare…
TOTM I was very pleased to thumb through the newest version of Antitrust Magazine and see a TOTM post get some attention. Its always nice to . . .
I was very pleased to thumb through the newest version of Antitrust Magazine and see a TOTM post get some attention. Its always nice to be cited and have folks take the time to respond to your work — or in this case, blog post. Its even more tickling when the person doing the responding is a prominent and well respected figure such as former Federal Trade Commissioner Leary. Commissioner Leary revisits the FTC’s enforcement action in Ovation and takes on the criticism of that enforcement action in this post. You can see Commissioner Leary’s article here (I believe ABA registration and password required). I’m grateful for the response and am going to take the opportunity to argue that, despite the Commissioner’s criticisms, the troublesome implications that I pointed out in the earlier post associated with the enforcement approach in Ovation remain (see also guest blogger Mary Coleman’s related concerns).
TOTM Economic theory is essential to antitrust law. It is economic analysis that constrains antitrust law and harnesses it so that it is used to protect . . .
Economic theory is essential to antitrust law. It is economic analysis that constrains antitrust law and harnesses it so that it is used to protect consumers rather than competitors. And the relationship between economics and antitrust is responsible for the successful evolution of antitrust from its economically incoherent origins to its present state. In my view, which I’ve expressed in greater detail elsewhere, the fundamental challenge for antitrust is one that is created by having “too many theories” without methodological commitments from regulators and courts on how to select between them. The proliferation of economic models that came along with the rise of Post-Chicago economics and integration of game theory into industrial organization has led to a state of affairs where a regulator or court has a broad spectrum of models to choose from when analyzing an antitrust issue.
TOTM The FTC joined the DOJ brief in American Needle v. National Football League arguing that the Supreme Court should deny certiorari. The brief characterizes the . . .
The FTC joined the DOJ brief in American Needle v. National Football League arguing that the Supreme Court should deny certiorari. The brief characterizes the question presented as…
