As a general proposition, antitrust law is hostile to price discrimination. This hostility appears to derive from a comparison of perfect competition (with no price discrimination) to monopoly (with price discrimination). Importantly, economists have known for some time that some forms of price...

Competition authorities have several tools at their disposal in crafting a competition policy. Most prominent are litigation and merger review. A less-recognized but often effective tool, however, is "competition advocacy." Broadly, competition advocacy is using persuasion, rather than coercion,...

Recent empirical research purports to show that common ownership by institutional investors harms competition even when all financial holdings are minority interests. This research has received a great deal of attention, leading to both calls for and actual changes in antitrust policy. This...

A large fraction of US public stock is held by institutional investors that frequently hold shares in multiple firms in the same industry ("common ownership"). Concerns have been raised that common ownership might harm competition if it confers influence over important strategic decisions. Using...

The extraordinary success of the digital sector of the domestic economy is indisputable. With this level of market success, growth, and influence, both economically and culturally, it is perhaps inevitable that these businesses are increasingly at the forefront of public policy discussions. Most...