Showing 1 - 10 of 7,565
We study the importance of discretion in antitrust enforcement by analyzing the response of asset prices to the sudden accession of Theodore Roosevelt to the presidency. During McKinley's term in office the largest wave of merger activity in American history occurred, and his administration did...
Persistent link: https://www.econbiz.de/10012908167
This article surveys the theory of the public enforcement of law -- the use of public agents (inspectors, tax auditors …, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory …, focusing on the probability of imposition of sanctions, the magnitude and form of sanctions, and the rule of liability. We then …
Persistent link: https://www.econbiz.de/10013216494
This chapter of the forthcoming Handbook of Law and Economics surveys the theory of the public enforcement of law %u … sanction imposed on a liable party be a fine, an imprisonment term, or a combination of the two? Should the rule of liability … extensions of the central theory, including: activity level; errors; the costs of imposing fines; general enforcement; marginal …
Persistent link: https://www.econbiz.de/10013213098
The burden of proof is a central feature of adjudication, and analogues exist in many other settings. It constitutes an important but largely unappreciated policy instrument that interacts with the level of enforcement effort and magnitude of sanctions in controlling harmful activity. Models are...
Persistent link: https://www.econbiz.de/10013037306
In this article, I explain the inadequacy of our current state of knowledge regarding the effectiveness of antitrust policy towards mergers. I then discuss the types of data that one must collect in order to be able to perform an analysis of the effectiveness of antitrust policy. There are two...
Persistent link: https://www.econbiz.de/10012757872
As it becomes cheaper to copy and share digital content, vendors are turning to technical protections such as encryption. We argue that if protection is nevertheless imperfect, this transition will generally lower the prices of content relative to perfect legal enforcement. However, the effect...
Persistent link: https://www.econbiz.de/10012727035
discharges contaminate riparian properties belonging to multiple owners, and we compare property rules, liability rules, and … to liability rules when there are few parties and bargaining is feasible, but they excessively deter efficient pollution … liability rules to regulation. An empirical analysis of water quality in the U.S. before and after the Clean Water Act shows …
Persistent link: https://www.econbiz.de/10012982019
In this paper we review issues relating to antitrust and competition in health care markets. The paper begins with a brief review of antitrust legislation. We then discuss whether and how health care is different from other industries in ways that might affect the optimality of competition. The...
Persistent link: https://www.econbiz.de/10013224318
Open borders imply systems competition. This paper studies the implications of systems competition for the national competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since abolishing this law makes it possible for a single country...
Persistent link: https://www.econbiz.de/10013227744
This paper presents an empirical analysis of the relationship between patenting, innovation, and federal antitrust enforcement towards firms in the manufacturing sector. I examine whether the likelihood of antitrust litigation is influenced by patent histories and R&D expenditures, after...
Persistent link: https://www.econbiz.de/10013323461