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Articles 1 - 2 of 2
Full-Text Articles in Law and Economics
Digital Cluster Markets, Herbert J. Hovenkamp
Digital Cluster Markets, Herbert J. Hovenkamp
All Faculty Scholarship
This paper considers the role of “cluster” markets in antitrust litigation, the minimum requirements for recognizing such markets, and the relevance of network effects in identifying them.
One foundational requirement of markets in antitrust cases is that they consist of products that are very close substitutes for one another. Even though markets are nearly always porous, this principle is very robust in antitrust analysis and there are few deviations.
Nevertheless, clustering noncompeting products into a single market for purposes of antitrust analysis can be valuable, provided that its limitations are understood. Clustering contributes to market power when (1) many customers …
Why Aim Law Toward Human Survival, John William Draper
Why Aim Law Toward Human Survival, John William Draper
Librarian Scholarship at Penn Carey Law
Our legal system is contributing to humanity’s demise by failing to take account of our species’ situation. For example, in some cases law works against life and supports interests such as liberty or profit maximization.
If we do not act, science tells us that humanity bears a significant (and growing) risk of catastrophic failure. The significant risk inherent in the status quo is unacceptable and requires a response. We must act. It is getting hotter. When we decide to act, we need to make the right choice.
There is no better choice. You and all your relatives have rights. The …