STRUCTURALIST INNOVATION: A SHAKY LEGAL PRESUMPTION IN NEED OF AN OVERHAUL

How does a market’s structure affect innovation? This crucial question has occupied the world’s brightest economists for almost a century, from Schumpeter who found that monopoly was optimal, through Arrow who concluded that competitive market structures were key, to the endogenous growth scholars who empirically derived an inverted-U relationship between market concentration and innovation.

ICLE Comments, Competition in Markets Involving Consumer Data

In its sixth set of comments for the FTC’s Hearings on Competition and Consumer Protection in the 21st Century, ICLE scholars addressed the questions for comment raised by Hearing #6, “The Intersection of Big Data, Privacy, and Competition,” exposing several crucial misconceptions about the competitive dynamics of data-intensive markets.