When reviewing mergers and similar transaction the American antitrust enforcers must, at times, protect competition in markets for products which do not exist. These include nascent competition cases. To justify doing so courts must develop a new legal doctrine: the current closest legal...

Responding to commentators who say the American antitrust enforcers do not protect competition in Innovation Markets, two Federal Trade Commission officials acknowledge that these commentators are, in some cases, correct. But in other cases, these officials also claim, the enforcers do indeed...

This 5-page article summarizes the 10 articles in which the author explains that whenever the American or European competition authorities claim they are directly protecting competition to innovate they are really protecting competition in Future Markets, markets for products which do not exist...

This article lays out the Future Markets Model, the methodology both the American and European competition authorities use when they protect competition in a Future Market. The Model has 4 prongs: A. Does a current product exist?B. How many firms are trying to develop a future product?C. For...

In Dow/Dupont the European Commission claims that it protects competition in an "Innovation Space." In such an "Innovation Space," the Commission claims, it can directly protect innovation. Yet in Dow/Dupont the Commission also said an "Innovation Space" is not an "Innovation Market." This...

Both the American and European legal systems at least arguably allow competition authorities to protect competition in markets for products which do not exist. While American and European commentators, and the American enforcement agencies themselves, claim that the authorities can directly...

Economists have long debated whether Schumpeter or Arrow was correct. Schumpeter argued that the monopolist, with its greater resources, was the better innovator. Arrow believes the opposite: that competitive markets force firms to innovate. The American and European antitrust authorities assume...