What is wrong with calls for search neutrality, especially those rooted in the notion of Internet search (or, more accurately, Google, the policy scolds’ bête noir of the day) as an “essential facility,” and necessitating government-mandated access? As others have noted, the basic concept...

This chapter in the book PIONEERS OF LAW AND ECONOMICS explores the contributions of Benjamin Klein to law and economics. I explore the intellectual foundations of Klein's pioneering analysis of the hold-up problem, the theory of the firm, vertical restraints, franchising, and the role of...

The study focuses on the admissibility and assessment of economic expertise in EC competition law litigation. I start by exploring the broader issues raised by the integration of economic expertise in litigation: in particular the risk of moral hazard and adverse selection because of the...

Proponents of a new discipline of ‘comparative law and economics' emphasise the complementarity of ‘comparative law' and ‘law & economics'. I share this view, but highlight some of the problems that comparative law and economics encounters. My word of caution is that a good comparative law...

The paper critically analyses the enforcement practices of the European Commission, between 2007 and 2013, focusing on the ways in which the institution has exercised its sanctioning powers. After having examined the purposes of the penalty system, a quantitative and qualitative analysis on the...

The Consumer Welfare Hypothesis in Law and Economics is a compelling account of market relations with firm roots in economic theory and legal practice. This incisive book challenges the mainstream view that allocative efficiency is about total welfare maximisation. Instead, it argues for the...

This chapter deals with the enforceability of U.S. opt-out class actions in continental Europe, with special attention to Italy, France and Spain. The study sets out by a thorough analysis of U.S. precedents concerning the availability of extra-compensatory damages in complex litigation (among...

This article was prepared as a contribution to the Chapman Law Review's symposium on “Libertarian Legal Theory.” While libertarian legal theory and law and economics share many affinities there are places in which both the method of the common law and the substantive rules of the common law...

We consider strategic behavior in non-Coasean litigation: private disputes such that the court's judgment may influence the final allocation of rights even if transaction costs are zero. This occurs when the law prohibits otherwise-profitable efforts to contract around the court's judgment. This...

This chapter provides a survey of the law and literature on monopolization. The focus is American law, but the issues considered are equally applicable to European law. After briefly reviewing the history of monopolization law in the U.S., I review various approaches to the legal standard for...