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TOTM At Overcoming Bias, Robin Hanson points to the absence of decision markets evaluating competitive conditions in the post-merger world as evidence that “these companies are . . .
At Overcoming Bias, Robin Hanson points to the absence of decision markets evaluating competitive conditions in the post-merger world as evidence that “these companies are just not serious about finding the highest value applications of prediction markets.” Here’s a description of the markets that Robin has in mind…
Read the full piece here.
TOTM Thom was recently invited to draft a critical response to a symposium at the Institute for Consumer Antitrust Studies on the future of single firm . . .
Thom was recently invited to draft a critical response to a symposium at the Institute for Consumer Antitrust Studies on the future of single firm conduct. The transcript from the Roundtable Discussion is available on SSRN. Thom graciously asked me to join him in drafting a short critical piece to the symposium. It is difficult to respond to an entire symposium in under 20 pages, and we are quite sure we were not able to get to it all of it. We did our best to hit the highlights and central themes of the conversation and contrast the generally pro-interventionist views expressed by the conference panelists with our more skeptical views about the proper scope of the antitrust enterprise in our modern economy.
TOTM Courtesy of Larry Solum’s Legal Theory Blog, the following two papers have been posted on SSRN and may be of interest to our readers. First . . .
Courtesy of Larry Solum’s Legal Theory Blog, the following two papers have been posted on SSRN and may be of interest to our readers. First is Keith Hylton’s analysis of the Weyerhaueser decision, Weyerhaeuser, Predatory Bidding, and Error Costs.
Scholarship Abstract In Weyerhaeuser v. Ross-Simmons the Supreme Court held that the predatory pricing standard adopted in Brooke Group also applies to predatory bidding claims, because . . .
In Weyerhaeuser v. Ross-Simmons the Supreme Court held that the predatory pricing standard adopted in Brooke Group also applies to predatory bidding claims, because the two types of predation are “analytically similar”. I argue that predatory bidding is likely to be more harmful to consumer welfare than is predatory pricing. Successful input market predation may lead to a “dual market power” outcome in which the firm has market power in both the input and the output market. In spite of the analytical distinction, consideration of error costs leads me to conclude that Brooke Group remains the best standard to apply to predatory bidding claims.
TOTM We’ve been following presidential statements on antitrust here at TOTM — mostly through press releases to the AAI (e.g. our analysis of statements from Obama . . .
We’ve been following presidential statements on antitrust here at TOTM — mostly through press releases to the AAI (e.g. our analysis of statements from Obama and Edwards). I’ve been largely disappointed at the lack of attention to antitrust thus far from the candidates, with virtually no statements at all from the Republican side and only a few from the Dems. This Reuters story (HT: Antitrust Review) offers a little bit of information from the perspective of antitrust practitioners on the predicted policies from various candidates. Noticeably, there was nothing directly from the candidates’ camps.
TOTM New York Attorney General Andrew Cuomo has issued a subpoena to Intel Corp. as part of an investigation into whether Intel’s discounting practices violate federal . . .
New York Attorney General Andrew Cuomo has issued a subpoena to Intel Corp. as part of an investigation into whether Intel’s discounting practices violate federal or state antitrust laws. According to Cuomo’s press release, the subpoena…
TOTM The Supreme Court denied cert yesterday in Truck-Rail Handling Inc. v. Burlington Northern & Sante Fe Railway Co., U.S., No. 07-693 (HT: Danny Sokol), where . . .
The Supreme Court denied cert yesterday in Truck-Rail Handling Inc. v. Burlington Northern & Sante Fe Railway Co., U.S., No. 07-693 (HT: Danny Sokol), where the 9th Circuit had affirmed summary judgment for the railroad company on the grounds that the plaintiff had not adequately defined relevant product markets.
TOTM Well, obviously, not, of course, but he sure sounds like a thoughtless hack once in a while. In a cafeteria near my office on the . . .
Well, obviously, not, of course, but he sure sounds like a thoughtless hack once in a while.
In a cafeteria near my office on the Microsoft campus, there is a sign near the door. It’s a testament to something or other that I have no recollection at all what the sign is actually about. But it shows a sepia-tone picture of a bridge being built from both sides of some body of water. The traverse is almost complete, except that the the two sides don’t quite line up. Oops. In big letters above the picture is a quote from Einstein. It says, “We cannot solve our problems with the same level of thinking that created them.” I’ve never read a word of Deepak Chopra, but this is about what I imagine he or others like him would sound like. Trite. Persuasive to the relatively thoughtless. And, well, idiotic.
TOTM Danny Sokol has collected picks from antitrust specialists around the globe. There were plenty of excellent articles and books to pick from but I ultimately . . .
Danny Sokol has collected picks from antitrust specialists around the globe. There were plenty of excellent articles and books to pick from but I ultimately selected this article from Keith Hylton and Fei Deng and this book on the Microsoft Case from Bill Page and John Lopatka. You can see the rest of the picks here.
