January 18, 2020

Towards a Theory of Market Power

Mark Jamison
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).
Antitrust & Consumer Protection
March 28, 2019

Amazon is not essential, except to the EU’s flawed investigations

Kristian Stout & Geoffrey A. Manne
Amazon has largely avoided the crosshairs of antitrust enforcers to date (leaving aside the embarrassing dangerous threats of arbitrary enforcement by some US presidential candidates). The reasons seem obvious: in the US it handles a mere 5% of all retail sales (with lower shares in the EU), and it consistently provides access to a wide array of affordable goods.
Antitrust & Consumer Protection