Merger policy is the most active area of U.S. antitrust policy. It is now widely believed that merger policy must move beyond its traditional focus on static efficiency to account for innovation and address dynamic efficiency. Innovation can fundamentally affect merger analysis in two ways....

One might mistakenly think that the long tradition of economic analysis in antitrust law would mean there is little new to say. Yet the field is surprisingly dynamic and changing. The specially commissioned chapters in this landmark volume offer a rigorous analysis of the field’s most...

Building on Oliver Williamson’s original analysis, the contributors introduce new ideas, different perspectives and provide tools for better understanding changes in the approach to regulation, the reform of public utilities, and the complex problems of governance. They draw largely upon...

This paper uses transaction cost economics (TCE) as the basis for an empirical study of transfer pricing--pricing of intra-firm transactions--in a multi-divisional firm. The study finds the evidence to support predictions that transaction-specific investment and quality requirements increase the...

This article discusses changes in the U.S. telecommunications market over the last decade and argues that increasing competitive substitution from wireless and internetbased communications has undermined the rationale for conventional monopoly regulation of incumbent local telephone carriers....

In the United States, a vigorous debate has developed around the questions of whether, and if so to what extent, telecommunications regulation should move from the sector-specific jurisdiction of the Federal Communications Commission to the more general regime of antitrust law. The debate so far...