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Working paper
Establishment of the Antitrust Division of the U.S. Department of Justice
In: St. John's Law Review , Forthcoming
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Back to School: What the Chicago School and New Brandeis School Get Right
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Working paper
Predicting Competitive Effects from Prescription Drug Mergers: How Standard Economic Analysis Can Go Wrong
In: The Antitrust bulletin: the journal of American and foreign antitrust and trade regulation, Band 59, Heft 3, S. 593-598
ISSN: 1930-7969
Key insights on the unilateral competitive effects of mergers derive from economic models built on behavioral assumptions and mathematical regularity conditions ensuring that merger effects are determined by the premerger margin of competition between products combined. But the usual behavioral assumptions and regularity conditions might not hold for prescription drugs, and the usual insights might not apply. Analysis of a simple model based on the facts of FTC v. Lundbeck shows that weak competition between two therapeutic substitute drugs plausibly results in monopoly prices, so merging them has no effect on their prices.
Cartel Deterrence through Criminal Enforcement: A Rejoinder to Lande and Davis
In: The Antitrust bulletin: the journal of American and foreign antitrust and trade regulation, Band 58, Heft 1, S. 191-194
ISSN: 1930-7969
Lande and Davis defend their claim that private damages actions are a greater deterrent than criminal cartel enforcement but continue to miss two key points: Incarcerating individuals deters cartels in a manner that no financial penalty can, and cartel deterrence requires the detection tools available only in criminal enforcement.
Antitrust's Rule of Reason: Only Competition Matters
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Working paper
Why (Ever) Define Markets? An Answer to Professor Kaplow
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Working paper
Mergers with Weak Competition: Reflections on FTC v. Lundbeck
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Working paper
The Sarbanes-Oxley Act and the Market for Corporate Control
In: Journal of institutional and theoretical economics: JITE, Band 167, Heft 1, S. 168
ISSN: 1614-0559
Market Delineation under the Merger Guidelines: A Tenth Anniversary Retrospective
In: The Antitrust bulletin: the journal of American and foreign antitrust and trade regulation, Band 38, Heft 3, S. 517-555
ISSN: 1930-7969
Four Suggestions on Market Delineation
In: The Antitrust bulletin: the journal of American and foreign antitrust and trade regulation, Band 37, Heft 1, S. 107-121
ISSN: 1930-7969
Section 7 of the Clayton Act and the Analysis of "Semihorizontal" Mergers
In: The Antitrust bulletin: the journal of American and foreign antitrust and trade regulation, Band 27, Heft 1, S. 135-160
ISSN: 1930-7969
The use and misuse of shipments data in defining geographic markets
In: The Antitrust bulletin: the journal of American and foreign antitrust and trade regulation, Band 26, Heft 4, S. 719-737
ISSN: 1930-7969