Showing 1 - 10 of 8,131
We hand-collect and standardize information describing all 3,055 antitrust lawsuits brought by the Department of Justice (DOJ) between 1971 and 2018. Using restricted establishment-level microdata from the U.S. Census, we compare the economic outcomes of a non-tradable industry in states...
Persistent link: https://www.econbiz.de/10014337831
Antitrust enforcement in the United States has declined since the 1960s. Building on several new datasets, we argue that this decline did not reflect a popular demand for weaker enforcement or any other kind of democratic sanction. The decline was engineered by unelected regulators and judges...
Persistent link: https://www.econbiz.de/10013361981
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/10012480888
We document the effects of a comprehensive set of US retail mergers. On average, prices increase by 1.5% and quantities decrease by 2.3%, with significant heterogeneity in outcomes across mergers. Price changes correlate with the screens codified in the Horizontal Merger Guidelines. Through a...
Persistent link: https://www.econbiz.de/10014250141
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/10012460894
This chapter of the forthcoming Handbook of Law and Economics surveys the theory of the public enforcement of law … sanction imposed on a liable party be a fine, an imprisonment term, or a combination of the two? Should the rule of liability … of the central theory, including: activity level; errors; the costs of imposing fines; general enforcement; marginal …
Persistent link: https://www.econbiz.de/10012466891
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/10012471807
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/10012463928
, injunctions or other forms of property rules work better than compensation for damage or liability rules. The equivalences of the …
Persistent link: https://www.econbiz.de/10012455979
Since the passage of the Interstate Commerce Act (1897) and the Sherman Act (1890), regulation and antitrust have operated as competing mechanisms to control competition. Regulation produced cross-subsidies and favors to special interests, but specified prices and rules of mandatory dealing....
Persistent link: https://www.econbiz.de/10012465754