Darren Bush, Mark Glick, and Gabriel A. Lozada argue that the Consumer Welfare Standard is inconsistent with modern welfare economics and that a modern approach to antitrust could integrate traditional Congressional goals as advocated by the Neo-Brandesians. Such an approach could be the basis for an alliance between the post-Chicago economists and the Neo-Brandesians.
In new research, Guglielmo Briscese and Michèle Belot find that reminding Americans of shared values can open lines of communication and help reduce political polarization.
Antonio Capobianco, the deputy head of the OECD Competition Division and one of the authors of the 2023 OECD report on algorithmic competition and collusion, explains the risks that algorithms and artificial intelligence pose to competition and how regulators can approach the changing competition paradigm.
An exit-inducing vertical merger might reduce welfare even if it is a welfare-enhancing vertical merger absent exit. Therefore, the possibility for rivals’ exit should be incorporated into the guidelines for vertical merger evaluation, write Javier D. Donna and Pedro Pereira in new research.
In his new book, Empire Incorporated, Philip Stern argues that corporations drove the global expansion of the British Empire rather than provide a supporting...
Tim Wu responds to a recent ProMarket post by Herbert Hovenkamp which argues for the dismissal of the Supreme Court’s 1962 Brown Shoe decision. Wu says that the Court’s duty is to obey and interpret the intentions of laws set by Congress, and cases cannot be dismissed because they don’t align with a particular policy perspective.
In their research, published in History of Economic Ideas, Thierry Kirat and Frédéric Marty stress the importance of the late 1930s in the making of antitrust. The moment was exceptional for its consensus within the economic discipline and the implementation of voluntarist public enforcement, particularly under Thurman Arnold according to the prescriptions of the Second Chicago School, institutionalists, and the preferences of the Neo-Brandeis movement.
In a field experiment conducted with economists on Twitter, the authors find that users who are identifiable as white, women, and PhD students affiliated with “top-ten” universities are more likely to receive follow-backs.