Publications

December 2024
Article

Is There Too Little Antitrust Enforcement in the U.S. Hospital Sector?

By: Zarek Brot-Goldberg, Zack Cooper, Stuart Craig and Lev Klarnet

From 2002 to 2020, there were over 1,000 mergers of U.S. hospitals. During this period, the Federal Trade Commission (FTC) took enforcement actions against 13 transactions. However, using the FTC’s standard screening tools, we find that 20% of these mergers could have... View Details

Keywords: Monopoly; Mergers and Acquisitions; Governing Rules, Regulations, and Reforms; Competition; Health Industry

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2019
Working Paper

U.S. Antitrust Law and Policy in Historical Perspective

By: Laura Phillips Sawyer

The key pieces of antitrust legislation in the United States—the Sherman Antitrust Act of 1890 and the Clayton Act of 1914—contain broad language that has afforded the courts wide latitude in interpreting and enforcing the law. This article chronicles the judiciary’s... View Details

Keywords: Antitrust; Trusts; Restraint Of Trade; Merger; Cartel; New Deal; Harvard School; Chicago School Of Law And Economics; Post-Chicago; Law; Competition; Policy; Vertical Integration; Horizontal Integration; Acquisition

Research Summary

Antitrust in the new economy

The objectives of this project are threefold: (1) identify the computational, managerial, and legal issues that interact and make antitrust compliance difficult in the context of B2B exchanges; (2) examine the computational difficulties and policy implications of... View Details

2024
Working Paper

Antitrust Platform Regulation and Entrepreneurship: Evidence from China

By: Ke Rong, D. Daniel Sokol, Di Zhou and Feng Zhu

Many jurisdictions have launched antitrust enforcement and brought in regulation of large tech platforms. The swift and strict implementation of China’s Anti-Monopoly Guidelines for the Platform Economy (Platform Guidelines) provides a quasi-natural experiment... View Details

Keywords: Governing Rules, Regulations, and Reforms; Competition; Venture Capital; Market Entry and Exit; Supply and Industry; China

29 Jun 2015
News

High-Profile Study Turns Up the Antitrust Heat on Google

February 2024 (Revised May 2024)
Case

Lina Khan at the FTC: Redefining Antitrust in the Age of Big Tech

By: Joseph L. Badaracco Jr. and Susan Pinckney

In 2023 and 2024, the Federal Trade Commission and U.S. Department of Justice sued Google, Amazon, and Apple claiming antitrust violations. These lawsuits marked a shift in U.S. antitrust enforcement away from the Chicago School and towards the New Brandeis school of... View Details

Keywords: Transition; Government Administration; Lawsuits and Litigation; Monopoly; Technology Industry; United States; European Union; China; India

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01 Oct 1997
News

Antitrust in Historical Perspective

enforcement is more casual and selective than in the United States and Europe. Even so, the most telling tribute to the wisdom and efficacy of the American antitrust system has been its widespread emulation... View Details

Keywords: Thomas K. McCraw and Richard S. Tedlow

01 Mar 2007
News

Private Equity under Investigation

division, the Justice Department has every reason to step in. The worry, though, is that the antitrust enforcers will again mistake competition for collusion because they don’t understand the complexities... View Details

Keywords: Josh Lerner; syndication; antitrust enforcement; Funds, Trusts, and Other Financial Vehicles; Finance

California Fair Trade: Antitrust and the Politics of 'Fairness' in U.S. Competition Policy

In the decades before World War II, U.S. antitrust law was anything but settled. Considerable pressure for antitrust revision came from the states. A perhaps unlikely leader, Edna Gleason, organized California's retail pharmacists and coordinated trade networks to... View Details

Article

California Fair Trade: Antitrust and the Politics of 'Fairness' in U.S. Competition Policy

By: Laura Phillips Sawyer

In the decades before World War II, U.S. antitrust law was anything but settled. Considerable pressure for antitrust revision came from the states. A perhaps unlikely leader, Edna Gleason, organized California's retail pharmacists and coordinated trade networks to... View Details

Keywords: Competition; Fairness; Laws and Statutes; Policy; United States

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02 Nov 2020
What Do You Think?

Is Antitrust Just a Quaint Notion in the Digital Age?

SUMMING UP Is antitrust just a quaint notion in the internet/Cloud age? What do you think? The lack of response to November’s column sends me a message: There appears to be less interest in antitrust issues... View Details

Keywords: by James Heskett; Retail; Technology; Telecommunications; Communications; Consumer Products; Service

March 9, 2021
Article

Addressing Consolidation in Health Care Markets

By: Leemore S. Dafny

This Viewpoint proposes three steps the Biden administration can take to slow consolidation within health care, which has been shown to raise costs without improving service or quality: better fund federal antitrust enforcement agencies; appoint agency heads committed... View Details

Keywords: Antitrust Issues And Policies; Health Care and Treatment; Markets; Consolidation; Competition; Government Administration

Article

Some Reflections on the Antitrust Treatment of Intellectual Property

By: Tracy R. Lewis and Dennis A. Yao

Abridged version in The Financial Times, The Complete MBA Companion, 1997, pp. 577-582. View Details

Keywords: Intellectual Property; Law Enforcement

March 2023
Article

Not from Concentrate: Collusion in Collaborative Industries

By: Jordan M. Barry, John William Hatfield, Scott Duke Kominers and Richard Lowery

The chief principle of antitrust law and theory is that reducing market concentration—having more, smaller firms instead of fewer, bigger ones—reduces anticompetitive behavior. We demonstrate that this principle is fundamentally incomplete.

In many... View Details

SSRN

2024
Article

Half the Firms, Double the Profits: Public Firms' Transformation, 1996–2022

By: Mark J. Roe and Charles C.Y. Wang

The number of public firms in the United States has halved since the beginning of the twenty-first century, causing consternation among corporate and securities law regulators. The dominant explanations, often advanced by Securities and Exchange commissioners when... View Details

Keywords: Corporate Law; Securities Regulation; Sarbanes-Oxley Act; Concentration Levels; Antitrust; Initial Public Offering; Public Ownership; Private Equity; Venture Capital; Mergers and Acquisitions; Monopoly; United States

Article

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in U.S. Health Care Markets

By: Leemore S. Dafny

This article describes potential regulatory and legislative reforms to assist antitrust enforcement agencies in halting anticompetitive acquisitions and practices, and preserving and promoting competition in health care markets. View Details

Keywords: Health Care and Treatment; Markets; Competition; Governing Rules, Regulations, and Reforms

This JAMA Viewpoint proposes three steps the Biden administration can take to slow consolidation within health care, which has been shown to raise costs without improving service or quality: better fund federal antitrust enforcement agencies; appoint agency heads... View Details

2015
Working Paper

The U.S. Experiment with Fair Trade Laws: State Police Powers, Federal Antitrust, and the Politics of 'Fairness,' 1890-1938

By: Laura Phillips Sawyer

Prior to the Great Depression and President Franklin Roosevelt's New Deal programs, considerable pressure for antitrust revision came from trade associations of independent proprietors. A perhaps unlikely leader, Edna Gleason, organized California's retail pharmacists... View Details

Keywords: Competition; Fairness; Laws and Statutes; Supply and Industry; Business and Government Relations

March–April 2020
Article

Pricing Policies that Protect your Brand

By: Ayelet Israeli and Eugene F. Zelek Jr.

When customers seek out online deals, it seems like a win for everybody: Brands, retailers, dealers, and distributors sell more goods, and buyers get a bargain. What's not to like? Here's the problem: Lured by rock-bottom online prices, customers often end up dealing... View Details

Keywords: Price; Policy; Brands and Branding; E-commerce