TOTM
Antitrust Anachronism? Randy Picker on the Microsoft-Yahoo Search Deal
Truth on the Market
View Original Source
I recently commented on Gordon Crovitz’s WSJ column on the Microsoft-Yahoo deal arguing that antitrust was simply too cumbersome to deal competition issues in dynamic markets like search. A short version of my take was that these concerns are often overstated in the areas of cartels and even sometimes in merger enforcement — but have their greatest bite in single firm conduct cases involving innovative markets where economic technology for detecting anticompetitive conduct is at its weakest and the stakes are highest. Randy Picker (Chicago) chimes in on the Crovitz piece with an interesting take and a call for even-handed application of claims that antitrust is obsolete…