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Full-Text Articles in Law
Exclusionary Conduct Of Dominant Firms, R&D Competition, And Innovation, Jonathan Baker
Exclusionary Conduct Of Dominant Firms, R&D Competition, And Innovation, Jonathan Baker
Articles in Law Reviews & Other Academic Journals
This paper evaluates the innovation consequences of antitrust enforcement against the exclusionary conduct of dominant firms through a Nash equilibrium model of research and development (R&D) competition to create new products. In the two-firm model, whether one firm regards the other firm’s R&D investment as a strategic complement or strategic substitute turns on an increasing differences condition: whether the first firm’s incremental benefit of increased R&D investment is greater if its rival’s R&D effort succeeds or if its rival’s R&D effort fails. Antitrust prohibitions on pre-innovation exclusion and post-innovation exclusion are found to be effective in different strategic settings: preventing …
Taking The Error Out Of 'Error Cost' Analysis: What's Wrong With Antitrust's Right, Jonathan Baker
Taking The Error Out Of 'Error Cost' Analysis: What's Wrong With Antitrust's Right, Jonathan Baker
Articles in Law Reviews & Other Academic Journals
This article catalogues a series of erroneous assumptions about the current competition policy environment made by today’s antitrust conservatives. These errors inappropriately tilt the application of a neutral economic tool, decision theory, toward non-interventionist outcomes.
Antitrust, Competition Policy, An Inequality, Jonathan Baker, Steven Salop
Antitrust, Competition Policy, An Inequality, Jonathan Baker, Steven Salop
Articles in Law Reviews & Other Academic Journals
Economic inequality recently has entered the political discourse in a highly visible way. This political impact is not a surprise. As the U.S. economy has begun to recover from the Great Recession since mid-2009, economic growth has effectively been appropriated by those already well off, leaving the median household less well off. The serious economic, political and moral issues raised by inequality can be addressed through a panoply of public policies including competition policy, the focus of this article. The article describes the channels through which market power contributes to inequality, and sets forth a range of possible antitrust policy …