Lawrence B. Landman
Lawrence B. Landman earned his Juris Doctor from the University of California, Berkeley, his MBA from Columbia University, and his Ph.D. from Roskilde University in Denmark. He has written extensively on how the American and European antitrust authorities protect competition to innovate. He is the author of "Doing Business in the United States: Legal Opportunities and Pitfalls," which has been translated into Czech and Chinese. He is a Partner of the Interagan Technology Group and the Head of LawFlex Antitrust.
Antitrust and Competition
The Revised US Merger Guidelines Adopt the Future Markets Model
Since 1993 the American enforcers have claimed that they can directly protect firms’ competition to innovate. And the European Commission, which at first acknowledged that it protected competition in Future Markets, markets for products which do not exist yet, later claimed that it too can directly protect firms’ competition to innovate. In their new Revised Merger Guidelines the American enforcers now not only acknowledge that they protect competition in Future Markets, but say that they will do so aggressively. And since the Americans acknowledge that they protect competition in Future Markets the Europeans should do so as well—again.
Antitrust and Competition
The European Commission Finds, not Innovation Spaces, but Future Markets
Without saying how, FTC Commissioner Slaughter says competition authorities should do more than just protect competition in pipeline products; they should protect...
Antitrust and Competition
Illumina/Grail: Using the Future Markets Model To Ask the Right Question
Grail and its competitors are developing tests which will save perhaps millions of lives. They will detect many different types of cancer very early—if they ever exist. All these tests need Illumina’s instruments. The FTC, reversing an administrative law judge, said Illumina could not buy Grail. If it did, the FTC said, it would not let Grail’s competitors use its instruments. Illumina has appealed, saying, among other things, that since the tests do not exist there is, for antitrust purposes, currently no market. Yet while the tests may or may not exist in the future the Fifth Circuit has to decide this case now.
Antitrust and Competition
The Future Markets Model Explains Meta/Within: A Reply to Herb Hovenkamp
In response to both Herb Hovenkamp’s February 27 article in ProMarket and, perhaps more importantly, also to Hovenkamp’s highly regarded treatise, Lawrence B. Landman, first, shows that the Future Markets Model explains the court’s decision in Meta/Within. Since Meta was not even trying to make a future product, the court correctly found that Meta would not enter the Future Market. Second, the Future Markets Model is the analytical tool which Hovenkamp says the enforcers lack when they try to protect competition to innovate.
Latest news
Antitrust and Competition
Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation
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.
Economic History
How Anthony Downs’s Analysis Explains Rational Voters’ Preferences for Populism
In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.
Antitrust and Competition
The Impact of Large Institutional Investors on Innovation Is Not as Positive as One Might Expect
In a new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà -Simats study how large institutional investors impact firm innovation. The authors find that large institutional investors encourage internal research and development but discourage firm acquisitions that would add patents and knowledge to their firms’ portfolios, hampering overall innovation.
Antitrust and Competition
The FTC Needs To Focus Arguments on Technological Transitions After High-Profile Losses
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
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.
Antitrust and Competition
Debating the Draft Merger Guidelines: Transcript
On September 7, the Stigler Center hosted a webinar to discuss the draft merger guidelines. What follows is a slightly edited transcript of the event.
Commentary
Holding Up the News
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.
