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Full-Text Articles in Law and Economics
Antisocial Innovation, Christopher Buccafusco, Samuel N. Weinstein
Antisocial Innovation, Christopher Buccafusco, Samuel N. Weinstein
Faculty Scholarship
Innovation is a form of civic religion in the United States. In the popular imagination, innovators are heroic figures. Thomas Edison, Steve Jobs, and (for a while) Elizabeth Holmes were lauded for their vision and drive and seen to embody the American spirit of invention and improvement. For their part, politicians rarely miss a chance to trumpet their vision for boosting innovative activity. Popular and political culture alike treat innovation as an unalloyed good. And the law is deeply committed to fostering innovation, spending billions of dollars a year to make sure society has enough of it. But this sunny …
A Reputational View Of Antitrust’S Consumer Welfare Standard, Murat C. Mungan, John M. Yun
A Reputational View Of Antitrust’S Consumer Welfare Standard, Murat C. Mungan, John M. Yun
Faculty Scholarship
A reform movement is underway in antitrust. Citing prior enforcement failures, deviations from the original intent of the antitrust laws, and overall rising levels of sector concentration, some are seeking to fundamentally alter or altogether replace the current consumer welfare standard, which has guided courts over the past fifty years. This policy push has sparked an intense debate over the best approach to antitrust law enforcement. In this Article, we examine a previously unexplored potential social cost from moving away from the consumer welfare standard: a loss in the information value to the public from a finding of liability. A …