Corporate & Securities Law

China's Anti-Monopoly Law: An Early Report Card

Posted on May 06, 2009
Posted by D. Daniel Sokol Lester Ross (WilmerHale) provides his thoughts on China's Anti-Monopoly Law: An Early Report Card. ABSTRACT: China's AML has been in effect for less than a year. The enforcement authorities are progressing with respect to structure...

Product Innovation Incentives: Monopoly vs. Competition

Posted on May 06, 2009
Posted by D. Daniel Sokol Marius Schwartz (Georgetown - Economics) focuses his inquiry into Product Innovation Incentives: Monopoly vs. Competition. ABSTRACT: Arrow (1962) showed that a secure monopolist (unconcerned with preemption) has a weaker incentive than would a competitive firm...

Bundling and Competition for Slots: On the Portfolio Effects of Bundling

Posted on May 06, 2009
Posted by D. Daniel Sokol Doh-Shin Jeon (Universitat Pompeu Fabra - Economics) and Domenico Menicucci (Università degli Studi di Firenze) focus their newest paper on Bundling and Competition for Slots: On the Portfolio Effects of Bundling. ABSTRACT: We consider competition...

Antitrust Professors on the Move - 2009 Edition

Posted on May 06, 2009
Posted by D. Daniel Sokol Below is a list of antitrust professors on the move to new schools: Dan Crane - University of Michigan (from Cardozo) Abe Wickelgren - University of Texas (from Northwestern) Christopher Leslie - UC Irvine (from...

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FTC v. CCC Holdings: Message Received

Posted on May 06, 2009
Posted by D. Daniel Sokol Peter Love (Jones Day) and Ryan Thomas (Jones Day) write on the topic of FTC v. CCC Holdings: Message Received. ABSTRACT: Cirroc, the Unfrozen Caveman Lawyer from Saturday Night Live, consistently employed the same successful...

Protectionist Threats Against Cross-Border Mergers: Unexplored Avenues to Strengthen the Effectiveness of Article 21 ECMR

Posted on May 05, 2009
Posted by D. Daniel Sokol Damien Gerard of the University of Louvain explains Protectionist Threats Against Cross-Border Mergers: Unexplored Avenues to Strengthen the Effectiveness of Article 21 ECMR. ABSTRACT: In recent months, the European Commission has faced a surge in...

Comments on ?An Economic Analysis of the Use of Selective Distribution by Luxury Goods Suppliers?

Posted on May 05, 2009
Posted by D. Daniel Sokol A team from Sidley (Stephen Kinsella, Hanne Melin and Simon Schropp) recently published a piece in the European Competition Journal titled Comments on the CRA Paper Entitled ?An Economic Analysis of the Use of Selective...

Optimal Product Proliferation in Monopoly: A Dynamic Analysis

Posted on May 05, 2009
Posted by D. Daniel Sokol Luca Lambertini (Department of Economics, University of Bologna) explains Optimal Product Proliferation in Monopoly: A Dynamic Analysis. ABSTRACT: The monopolist?s incentives towards product proliferation are evaluated in an optimal control model considering three alternative regimes:...

Antitrust and the New Economy

Posted on May 05, 2009
Posted by D. Daniel Sokol The Center for American Progress Presents Antitrust and the New Economy May 11, 2009, 9:30am ? 11:30am About This Event The new administration faces profound challenges in antitrust and competition policy. The Bush administration adhered...

Sunk Entry Costs, Sunk Depreciation Costs, and Industry Dynamics

Posted on May 05, 2009
Posted by D. Daniel Sokol Adelina Gschwandtner (U. Vienna - Econ) and Val E. Lambson (BYU - Econ) have written on Sunk Entry Costs, Sunk Depreciation Costs, and Industry Dynamics Abstract: Dynamic competitive models of industry evolution predict higher variability...

Analyzing Horizontal Mergers: Unilateral Effects in Product-Differentiated Markets

Posted on May 04, 2009
Posted by D. Daniel Sokol Herb Hovenkamp,University of Iowa College of Law has a must read piece for those looking for a clear and non-technical overview of Analyzing Horizontal Mergers: Unilateral Effects in Product-Differentiated Markets. ABSTRACT: This essay offers a...

Antitrust Economics 101

Posted on May 04, 2009
Posted by D. Daniel Sokol Our friends at Competition Policy International have asked that we highlight what looks like it will be a great opportunity - Antitrust Economics 101 with Josh Wright of George Mason Law School. I would like...

FTC Announces Agendas for Resale Price Maintenance Workshops in May

Posted on May 04, 2009
Posted by D. Daniel Sokol According to an FTC announcement, the agenda has been set for the next round of RPM workshops: Panels will focus on the history of the practice, empirical evidence on the effects of RPM, and how...

Market Share, R&D Cooperation, and EU Competition Policy

Posted on May 04, 2009
Posted by D. Daniel Sokol Richard Ruble (EMLYON Business School) and Bruno Versaevel (EMLYON Business School) have written on Market Share, R&D Cooperation, and EU Competition Policy. ABSTRACT: Current EU policy exempts horizontal R&D agreements from antitrust concerns when the...

Recent Developments in Concentration Control Rules under China?s Anti-Monopoly Law

Posted on May 04, 2009
Posted by D. Daniel Sokol Jun Wei (Hogan & Hartson) has provided an analysis of Recent Developments in Concentration Control Rules under China?s Anti-Monopoly Law. Given some important merger decisions in the past few months, this piece is particularly timely...

MOFCOM Can Reach SOEs for Merger Control

Posted on May 03, 2009
Posted by D. Daniel Sokol While I was busy at the Loyola Antitrust conference on Friday, I discovered via Paul Jones that MOFCOM has exerted jurisdiction for the merger between two SOEs. As Paul explains: On Friday, May 1, 2009...

Competition Between Payment Systems: Results

Posted on May 01, 2009
Posted by D. Daniel Sokol George Gardner (Reserve Bank of Australia) and Andrew Stone (Reserve Bank of Australia) analyze Competition Between Payment Systems: Results. ABSTRACT: This paper is the second of two companion pieces. In the first we developed a...

2008 Annual Review of Antitrust Law Developments

Posted on April 30, 2009
Posted by D. Daniel Sokol The ABA Antitrust Section has just published the 2008 Annual Review of Antitrust Law Developments. BOOK ABSTRACT: For over 36 years, Antitrust Law Developments and its annual supplements have been recognized as the single most...

Measurement of the Consumer Benefit of Competition in Retail Outlets

Posted on April 30, 2009
Posted by D. Daniel Sokol Toshiyuki Matsuura (Economics, Keio University) and Mitsuru Sunada (Competition Policy Research Center, Japan Fair Trade Commission) address Measurement of the Consumer Benefit of Competition in Retail Outlets in a new working paper...

Asset Specificity and Vertical Integration: Williamson?s Hypothesis Reconsidered

Posted on April 30, 2009
Posted by D. Daniel Sokol Christian A. Ruzzier (Harvard Business School) addresses Asset Specificity and Vertical Integration: Williamson?s Hypothesis Reconsidered. ABSTRACT: A point repeatedly stressed by transaction cost economics is that the more specific the asset, the more likely is...

DOJ Opens Antitrust Inquiry Into Google Books Deal

Posted on April 29, 2009
Posted by D. Daniel Sokol Last week I posted an interesting new working paper by Randy Picker on the antitrust implications of Google Books. Today we learn via the NY Times that DOJ is investigating the deal.

The Interface Between Regulation and Competition Law

Posted on April 29, 2009
Posted by D. Daniel Sokol Neelie Kroes (European Commissioner for Competition Policy) gave as speech yesterday on The Interface Between Regulation and Competition Law.

An Empirical Model of Search with Vertically Differentiated Products

Posted on April 29, 2009
Posted by D. Daniel Sokol Matthijs R. Wildenbeest (Indiana University, Kelley School of Business) provides An Empirical Model of Search with Vertically Differentiated Products. ABSTRACT: This paper presents a non-sequential search model that allows for vertical product differentiation...

Financial Market Pressures, Tacit Collusion and Oil Price Formation

Posted on April 29, 2009
Posted by D. Daniel Sokol A team of Finn Roar Aune (Statistics Norway), Klaus Mohn (University of Stavanger - Industrial Economics), Petter Osmundsen (University of Stavanger - Industrial Economics) and Knut Einar Rosendahl (Statistics Norway) investigate Financial Market Pressures, Tacit...

Antitrust Law and Economics Professors on the Move

Posted on April 29, 2009
Posted by D. Daniel Sokol For the second year, I hope to compile a list of antitrust professors in law and economics who are on the move to new schools. Please submit names in the comments section below any moves...

Competition Between Payment Systems

Posted on April 28, 2009
Posted by D. Daniel Sokol George Gardner (Reserve Bank of Australia) and Andrew Stone (Reserve Bank of Australia) analyze Competition Between Payment Systems. ABSTRACT: This paper is the first of two companion pieces examining competition between payment systems...

Section 2 and the Section 2 Report

Posted on April 28, 2009
Posted by D. Daniel Sokol Our friends over at Truth and the Market will host an online symposium on Section 2 and the Section 2 Report. As Geoff Manne wrote me: We?ve organized the symposium across the three days so...

How Competition Policy Benefits SMEs

Posted on April 28, 2009
Posted by D. Daniel Sokol Neelie Kroes (European Commissioner for Competition Policy) recently gave a speech on How Competition Policy Benefits SMEs.

FTC Issues Final Rules Amending Parts 3 and 4 of the Agency?s Rules of Practice

Posted on April 28, 2009
Posted by D. Daniel Sokol In an important practice development, the FTC Issued Final Rules Amending Parts 3 and 4 of the Agency?s Rules of Practice. The press release notes: The Federal Trade Commission today adopted as final the interim...

Is Cartelisation Profitable? A Case Study of the Rhenish Westphalian Coal Syndicate, 1893-1913

Posted on April 27, 2009
Posted by D. Daniel Sokol Thorsten Lübbers (Max Planck Institute for Research on Collective Goods) has a nice historical work on Is Cartelisation Profitable? A Case Study of the Rhenish Westphalian Coal Syndicate, 1893-1913. ABSTRACT: We examine the effect of...

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