Herbert Hovenkamp

Herbert Hovenkamp is the James G. Dinan University Professor, Penn Law and the Wharton School, University of Pennsylvania. He is a Fellow of the American Academy of Arts and Sciences, and in 2008 won the Justice Department’s John Sherman Award for lifetime contributions to antitrust law. His legal history writing includes The Opening of American Law: Neoclassical Legal Thought, 1870-1970 (Oxford, 2015); Enterprise and American Law, 1836-1937 (Harvard, 1991). His principal antitrust scholarship includes Antitrust Law (with the late Phillip E. Areeda and the late Donald F. Turner, 1978-2020).

A Posner-Stigler Smoking Gun?

A memo from George Stigler and Richard Posner to the Reagan administration was recently unearthed. To understand the meaning behind the memo,...

The Sherman Act and Abuse of Dominance in the Age of Networks

In order to be more effective in networked markets, the US should adopt a version of the EU’s “abuse of dominance” standard...

Antitrust and the FTC: Franchise Restraints on Worker Mobility

As currently formulated, antitrust’s rule of reason approach is not the best tool to deal with vertical noncompete agreements that limit worker...

How Will the FTC Evaluate Vertical Mergers?

The Federal Trade Commission’s recent withdrawal of its 2020 vertical merger guidelines is flatly incorrect as a matter of microeconomic theory and...

The DOJ’s “New Madison” Doctrine Disregards Both the Economics and the Law of Innovation

DOJ’s “New Madison” approach to antitrust and intellectual property law dictates that antitrust should stay out of disputes over patents, even when...

Why the FTC Antitrust Case Against Facebook Was Dismissed

Many of the problems with the FTC complaint against Facebook that was dismissed in court last month appear to be fixable. However,...

Congress’ Antitrust War On China and American Consumers

The latest bills currently debated in Congress regarding Big Tech—the US Innovation and Competition Act that was passed by the Senate this...

Eliminating Baseball’s Antitrust Exemption Won’t End the Georgia Political Boycott

There are good arguments for getting rid of baseball's long-standing exemption from antitrust laws, but the reason cited by Republican Senators angry...

Identifying the Market In the Facebook Antitrust Case

Facebook can be a monopolist over a cluster of noncompeting products that do not fit the standard economic definition of a “market.”...

Big Tech’s Fight Over Privacy: Could Facebook Win an Antitrust Lawsuit Against Apple?

Do the new iOS 14 privacy features violate antitrust laws? If Facebook brings an antitrust suit against Apple, as it is reportedly...

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Fear of Punishment Distorts Bank Financial Reporting

When bank employees are afraid of punishment from regulators, they are likely to conceal information about their faulty decisions. This in turn...

Should The Competitive Process Test Replace The Consumer Welfare Standard?

Jonathan Kanter, Assistant Attorney General for the Department of Justice Antitrust Division, recently gave a speech condemning the use of the consumer...

Delaware: The State Where Companies Can Vote

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?  

In 2019, more than 100 CEOs of US public companies signed a Business Roundtable statement in which they pledged to deliver value...

Do Protests Matter At All for Shifting Government Policy Around Economic Redistribution?

New research on the effectiveness of protests on government distributions provides insights into the political incentives of a country’s leadership and the...

Mergers and Smoking Guns

A recently uncovered memo from George Stigler and Richard Posner reveals how they thought about antitrust and merger policy in advising the...