Corporate & Securities Law

Confronting the Threats to Market Competition

Posted on July 17, 2009
Posted by D. Daniel Sokol The Organization for Competitive Markets (OCM) will hold its annual conference on August 7 and 8 in St. Louis, Mo., at the Westin St. Louis Hotel. American Antitrust Institute (AAI) President Bert Foer will deliver...

Privatization, Regulation and Airport Pricing: An Empirical Analysis for Europe

Posted on July 17, 2009
Posted by D. Daniel Sokol Xavier Fageda (U. Barcelona - Economics) & Germa Bel (U. Barcelona - Economics) Privatization, Regulation and Airport Pricing: An Empirical Analysis for Europe. ABSTRACT: This paper examines factors determining prices that airports charge to airlines...

In Search of the Marginal Consumer

Posted on July 16, 2009
Posted by D. Daniel Sokol Phil Evans of FIRPA is In Search of the Marginal Consumer. ABSTRACT: In the long term, consumer welfare is about efficiency and innovation. In the short term, consumer welfare is about price, choice and access...

Competition and Innovation: Evidence from Financial Services

Posted on July 16, 2009
Posted by D. Daniel Sokol Jaap W.B. Bos (Utrecht - Economics), Ryan C.R. van Lamoen (Utrecht - Economics), and James W. Kolari (Texas A&M - Mays School of Business) have an interesting new paper on Competition and Innovation: Evidence from...

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Exclusionary Bundling: The Motive for Mergers

Posted on July 16, 2009
Posted by D. Daniel Sokol Sue Mialon (Emory - Econ) writes on Exclusionary Bundling: The Motive for Mergers. ABSTRACT: This paper models how exclusionary bundling motivates mergers. Firms in two unrelated markets may want to merge only to bundle, even...

Bilateral oligopoly and quantity competition

Posted on July 16, 2009
Posted by D. Daniel Sokol Alex Dickson (Economics, University of Strathclyde) and Roger Hartley (Economics, University of Manchester) describe Bilateral oligopoly and quantity competition. ABSTRACT: Bilateral oligopoly is a strategic market game with two commodi- ties, allowing strategic behavior on...

Risk Aversion and Tacit Collusion in a Bertrand Duopoly Experiment

Posted on July 15, 2009
Posted by D. Daniel Sokol Lisa R. Anderson (Department of Economics, College of William and Mary), Beth A. Freeborn (Department of Economics, College of William and Mary), and Jason P. Hulbert (Department of Economics, College of William and Mary) explain...

Road Testing of Consumer Remedies

Posted on July 15, 2009
Posted by D. Daniel Sokol The CC and OFT commissioned a joint study on Road Testing of Consumer Remedies.

Predatory Exclusive Dealing

Posted on July 15, 2009
Posted by D. Daniel Sokol Joachim Klein (Munich Graduate School of Economics, University of Munich) and Hans Zenger (European Commission, Chief Economist Team, Directorate-General for Competition) write on Predatory Exclusive Dealing. ABSTRACT: While the previous literature on exclusive dealing has...

The Effect of Entry on R&D Investment of Leaders: Theory and Empirical Evidence

Posted on July 14, 2009
Posted by D. Daniel Sokol Dirk Czarnitzki (K.U.Leuven, Dept. of Managerial Economics, Strategy and Innovation), Federico Etro (University of Milan, Bicocca, Dept. of Economics) and Kornelius Kraft (Technical University of Dortmund, Dept. of Economics) analyze The Effect of Entry on...

Worldwide Merger Notification Requirements

Posted on July 14, 2009
Posted by D. Daniel Sokol J. Mark Gidley (White & Case), George L. Paul (White & Case) have produced the very accessible and informative Worldwide Merger Notification Requirements. BOOK ABSTRACT: Although international mergers continue to become more common, merger control...

The Court of Justice and Unlimited Jurisdiction: What Does it Mean in Practice?

Posted on July 14, 2009
Posted by D. Daniel Sokol Bo Vesterdorf (Herbert Smith and Plesner) asks The Court of Justice and Unlimited Jurisdiction: What Does it Mean in Practice? ABSTRACT: The principal function of the Community Courts, the Court of Justice (?ECJ?) and the...

Cartels, Fines, and Due Process

Posted on July 14, 2009
Posted by D. Daniel Sokol Philip Lowe (European Commission) explains Cartels, Fines, and Due Process. ABSTRACT: The level of fines imposed by the Commission with respect to cartel infringements has increased considerably over the past decade. In recent years, the...

Antitrust in an Era of Market Failure

Posted on July 14, 2009
posted by Shubha Ghosh Readers might be interested in Alan Devlin's article Antitrust in an Era of Market Failure, soon to be appearing in the Harvard Journal of Law & Public Policy, available at http://ssrn.com/author=1271852 Abstract follows: This is an...

The Price of Abuse: Intel and the European Commission Decision

Posted on July 13, 2009
Posted by D. Daniel Sokol Bob Lande (Baltimore Law) analyzes The Price of Abuse: Intel and the European Commission Decision. ABSTRACT: The May 13, 2009 decision by the European Commission (?EC?) holding that Intel violated Article 82 of the Treaty...

Private Law and Competition Policy in the Global Economy

Posted on July 13, 2009
Posted by D. Daniel Sokol Gralf-Peter Calliess, University of Bremen - Faculty of Law and Jens Mertens, CRC "Transformations of the State" explore Private Law and Competition Policy in the Global Economy. ABSTRACT: In this paper we criticize the so-called...

Governments as Cartel Victims

Posted on July 13, 2009
Posted by D. Daniel Sokol John Connor of Purdue University's Applied Economics Department explains Governments as Cartel Victims. ABSTRACT: In this note, I assemble simple empirical evidence on the severity of monetary penalties on modern international cartels, focusing on whether...

Congrats to Scott Hemphill

Posted on July 12, 2009
Posted by D. Daniel Sokol Scott Hemphill (Columbia Law), who has done some very interesting empirical work into pharmaceutical patent settlements was in the NY Times today, though not for his scholarship. Hemphill was in the Wedding announcements section...

East Asian Antitrust

Posted on July 11, 2009
Posted by D. Daniel Sokol The CPI Learning Center presents: East Asian Antitrust Session 1: Cartel - Wednesday, June 15, 2009 at 12 pm E.D.T. Topics include: An historic overview of the development of the Asian legal system; Factors behind...

Competition Policy after the Credit Crunch: The view from a UK competition authority

Posted on July 10, 2009
Posted by D. Daniel Sokol Peter Freeman, Chairman?Competition Commission presented an interesting speech at Chatham House last week titled Competition Policy after the Credit Crunch: The view from a UK competition authority.

Lawyers, Drugs and Money: A Prescription for Antitrust Enforcement in the Pharmaceutical Industry

Posted on July 10, 2009
Posted by D. Daniel Sokol On Friday, September 25, 2009, at the University of San Francisco School of Law, AAI will co-host a symposium titled "Lawyers, Drugs and Money: A Prescription for Antitrust Enforcement in the Pharmaceutical Industry." Panels...

Prices and Network Effects in Two-Sided Markets: The Belgian Newspaper Industry

Posted on July 10, 2009
Posted by D. Daniel Sokol Patrick J. G. Van Cayseele, Catholic University of Leuven (KUL) - Department of Economics and Stijn Vanormelingen, Hogeschool-Universiteit Brussel (HUBrussel), Catholic University of Leuven (KUL) explain Prices and Network Effects in Two-Sided Markets: The Belgian...

Successive Monopolies with Endogenous Quality

Posted on July 09, 2009
Posted by D. Daniel Sokol Hans Zenger (European Commission) analyzes Successive Monopolies with Endogenous Quality. ABSTRACT: This paper analyzes the impact of vertical integration on product quality. Contrary to previous findings, it is shown that integration decreases quality in many...

Monopoly Is What Happens While You?re Busy Making Speeches

Posted on July 09, 2009
Posted by D. Daniel Sokol Jay L. Himes (Labaton Sucharow) authored an article, Monopoly Is What Happens While You?re Busy Making Speeches, regarding the decision by Christine A. Varney, in her first public speech after being confirmed as Assistant Attorney...

Banking Services for Everyone? Barriers to Bank Access and Use around the World

Posted on July 09, 2009
Posted by D. Daniel Sokol Thorsten Beck, Tilburg University, Economics, Asli Demirguc-Kunt, World Bank - Development Research Group, and Maria Soledad Martinez Peria, World Bank - Development Research Group explain Banking Services for Everyone? Barriers to Bank Access and Use...

Competition Commission Publishes Annual Report

Posted on July 09, 2009
Posted by D. Daniel Sokol The Competition Commission (CC) has published its Annual Report and Accounts for 2008/09. You can download it here.

Did the Airline Tariff Publishing Case Reduce Collusion?

Posted on July 09, 2009
Posted by D. Daniel Sokol Amalia Miller (Virginia - Econ) asks Did the Airline Tariff Publishing Case Reduce Collusion? ABSTRACT: In December 1992, the US Department of Justice filed suit against eight major domestic airlines and the Airline Tariff Publishing...

EU Continues with Big Antitrust Fines

Posted on July 08, 2009
Posted by D. Daniel Sokol The Commission continues to impose large fines. This time the companies are the European firms E.ON and GDF Suez, thus ending a debate I have with a practitioner friend that only US technology firms would...

Piercing the Corporate Veil': Imposition of Fines on Associations of Undertakings for Violation of EC Competition Law

Posted on July 08, 2009
Posted by D. Daniel Sokol Alexandr Svetlicinii, European University Institute - Department of Law describes Piercing the Corporate Veil': Imposition of Fines on Associations of Undertakings for Violation of EC Competition Law. ABSTRACT: The ECJ's judgment in Coop de France...

Asymmetric Price Effects of Competition

Posted on July 08, 2009
Posted by D. Daniel Sokol Saul Lach (Department of Economics - Hebrew University of Israel) and José-Luis Moraga-González (Department of Economics, University of Groningen) study Asymmetric Price Effects of Competition. ABSTRACT: This paper examines how the distribution of prices changes...

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