This paper argues that incumbent firms may acquire innovative targets solely to discontinue
the target's innovation projects and preempt future competition. We call such acquisitions …

This article focuses on the economics of digital markets with particular emphasis on those
features that are commonly deemed critical for Antitrust. Digital markets are often …

Should internet era merger policy differ from industrial era merger policy? Platform
ecosystems rely on economies of scale, data-driven economies of scope, high-quality …

A new and urgently needed guide to making the American economy more competitive at a
time when tech giants have amassed vast market power. The US economy is growing less …

We set up a stylized oligopoly model of uncertain product innovation to analyze the effects of
a merger on innovation incentives and on consumer surplus. The model incorporates two …

Motivated by a number of high-profile antitrust cases, we study mergers when firms offer
differentiated products and compete in prices and investments. Since the net effect of the …

A proposal for moving from price-centric to innovation-centric competition policy, reviewing
theory and evidence on economic incentives for innovation. Competition policy and antitrust …

We study how competition impacts innovation (and welfare) when firms compete both in the
product market and in innovation development. This relationship is complex and may lead to …

The goal of antitrust policy is to protect and promote a vigorous competitive process.
Effective rivalry spurs firms to introduce new and innovative products, as they seek to …

This chapter examines recent developments in economic research relating to antitrust,
paying specific attention to research in the areas of collusion and merger enforcement …