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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Antitrust and Competition

Fixing Platform Monopoly in the Google Search Case

Herbert Hovenkamp
Google is on trial for anticompetitive behaviors designed to protect its monopoly in internet search. Herb Hovenkamp analyzes several possible remedies the presiding court and Department of Justice could pursue and suggests which ones may succeed in reinforcing competition to protect consumer interests.
Commentary

Brazil Demonstrates the Challenge of Balancing Growth and Sustainability

Stephanie Tondo
The return of Luiz Inácio Lula da Silva as president of Brazil accompanies a renewed emphasis on sustainability. However, discrepancies in his rhetoric and the policy of his administration reveals a rift between the administration’s twin goals of sustainability and economic development, writes Stephanie Tondo
Antitrust and Competition

Revising Guideline 6 With Evidence To Establish a Structural Inference for Input Foreclosure

Steven Salop
Vertical merger law lacks the structural presumption of horizontal merger law, which shifts the burden from the government to the merging parties to provide evidence that a merger will not produce anticompetitive effects when it is known that the merger will substantially increase market concentration. To improve Guideline 6 of the draft Merger Guidelines concerning vertical foreclosure, Steven Salop develops a three-factor criteria with which the government antitrust agencies can show an analogous structural “inference” that shifts the burden of evidence to the merging parties.
Antitrust and Competition

Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation

John Kwoka
The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.
Antitrust and Competition

The FTC Needs To Focus Arguments on Technological Transitions After High-Profile Losses

Joshua Gray
Joshua Gray and Cristian Santesteban argue that the Federal Trade Commission's focus in Meta-Within and Microsoft-Activision on narrow markets like VR fitness apps and consoles missed the boat on the real competition issue: the threat to future competition in nascent markets like VR platforms and cloud gaming.
Commentary

We Need Better Research on the Relationship Between Market Power and Productivity in the Hospital Industry

David Ennis
Antitrust debates have largely ignored questions about the relationship between market power and productivity, and scholars have provided little guidance on the issue due to data limitations. However, data is plentiful on the hospital industry for both market power and operating costs and productivity, and researchers need to take advantage, writes David Ennis.
Commentary

Holding Up the News

Joshua Braun
Meta has silenced news organizations’ social media accounts in response to Canada’s Online News Act, a law not yet in effect. Josh Braun describes the reasoning behind such legislation, its potential flaws, and how Meta, particularly Facebook, has turned the Canadian wildfire crisis into a regulatory pressure campaign.
Antitrust and Competition

Split the Legal, Economic and Policy Arguments of the Draft Merger Guidelines

Fiona Scott Morton
To support the Agencies’ goals of stronger antitrust enforcement, Fiona Scott Morton recommends breaking the draft Merger Guidelines into three documents that clarify the Guidelines’ legal and economic justifications and overarching goals and priorities.
Antitrust and Competition

Randy Picker: A Brief for the Public?

Randy Picker
Randy Picker provides his round-two comments on the draft Merger Guidelines.
Antitrust and Competition

Guidelines to Match the Moment

Erik Peinert
Erik Peinert compares the changes in the draft Merger Guidelines with those of the past. He points out that the shift is a necessary measure to enhance enforcement in the current economic environment.
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.