Despite the idiosyncratic and sometimes counterproductive institutional scheme of federal antitrust enforcement created by failed Congressional design and decades of iterative experimentation, the U.S. antitrust agencies function relatively successfully most of the time. Because of this, the...

Algorithms are becoming ubiquitous in our society. They are powerful and, in some cases, indispensable tools in today’s economy. In terms of the technology, we do not yet have AI sophisticated enough to, with a reasonable degree of certainty, reach autonomous tacit collusion in most real...

This Chapter begins by examining and exploring the theoretical and empirical limits of the possible bases of network effects, paying particular attention to the most commonly cited framework known as Metcalfe’s Law. It continues by exploring the concept of network externalities, defined as the...

This chapter explores investment, entrepreneurship, and innovation in the United States and Europe and takes stock of the two region’s relative performance in encouraging technological change. Although there is no single perfect metric for measuring success in innovation, there are several...

This paper examines the economics of digital platforms and two-sided markets and discusses the economic conditions that underlie policy assertions by advocates of both interventionist and laissez-faire policies. We include applications to internet search, online advertising, media, data, and...

This Chapter discusses the theories behind the call to incorporate privacy into antitrust and identifies some potential legal and economic hurdles to their application. Chief among them are (1) the extent to which privacy is an important dimension of competition; (2) identifying the underlying...

This chapter proceeds as follows. Section I begins with the background and recent history of the state action doctrine and its relation to occupational licensure, addressing the recent cases listed above. Section II discusses recent and current litigation involving competitors using the...

Exemptions and immunities limit the reach of the antitrust laws. If the courts and agencies implement exemptions and immunities too expansively, anticompetitive conduct will elude enforcement and thereby injure consumers. The dynamic nature of the digital economy amplifies these concerns....

This chapter focuses on complaints about “content moderation” because ICS providers are far more likely to be subject to unfair competition and consumer protection claims (meritorious or otherwise) for choosing not to carry, or promote, some third party’s content. The term is used...

The aim of this chapter is to analyze recently released reports and policy papers to evaluate whether regulatory interventions reflect the distinctive features of digital markets and their leading players or whether the main thrust of these proposals for regulatory interventions is just to...