Maurice E. Stucke ‘Reconsidering Antitrust’s Goals’

This is a more recent paper to the ABA one identified in the post below, which has the advantage of also being an analytical / critical piece. To be clear, I do not necessarily support or condone the criticisms set out in the paper – but I do like how his analysis makes one think about what antitrust should be about. The article can be found at http://lawdigitalcommons.bc.edu/bclr/vol53/iss2/4/. While mainly focused on the US, the paper is interesting for its (critical) description of how our current understanding of antitrust as being mainly devoted to promoting consumer welfare and efficiency came about (interesting tidbit: before 1975, the US Supreme Court had never mentioned “consumer welfare” in an antitrust case); and of how this “official” understanding conflicts with the proliferation of antitrust goals to be found in laws across the world (which leads to a useful review of such antitrust goals, mainly relying on ICN work). The critical part is also interesting for…

American Bar Association ‘Report on Antitrust Policy Objectives’

This is a fairly old paper  – available at https://www.americanbar.org/content/dam/aba/administrative/antitrust_law/report_policyobjectives.authcheckdam.pdf – that describes how, although most jurisdictions maintain that their competition laws “preserve competition”, the preservation of competition can mean different things in different places. It also discussing how these different meanings of competition can reflect the fact that antitrust laws can protect many different objectives. To my knowledge, this is one of the best description of the various goals of antitrust – it is comprehensive, to the point, and easy to read (for those interested, there is also a survey from the ICN on this). Even though jurisdictions adopt competition rules for differing reasons, each tends to describe its competition law initiatives in the same manner, as rules that aim “preserve competition.” However,  “preserving competition” is defined in different ways. Among the objectives that this paper identifies as informing the application of competition rules in different countries are: consumer welfare, total welfare, economic efficiency, protection and promotion of business rivalry,…

Maurice E Stucke ‘Reconsidering Competition’

This is a relatively old paper from 2011 by Maurice Stucke on a topic as straightforward as: “what is competition”. The paper has a fairly straightforward structure. In the first section, he reviews the concept of “competition”. It concludes that while there are multiple conceptions of competition, none prevails without qualification over the others. For example, some consider competition as an idealized end-state (such as static price competition under the economic model of perfect competition), while others view competition as a dynamic process. There is no easy way to arbitrate between these views. In the second section, he explores the reasons for this diversity of conceptions of competition, and concludes that they arise from differing  underlying assumptions regarding competitive processes. He tests this by relaxing the assumption of rationality of market participants and looking at its implications in section III. For my purposes here, the most interesting section is the first one, which  provides an overview of the various meanings…

Herbert Hovenkamp ‘The Rule of Reason’

This paper by Hovenkamp – available at https://scholarship.law.upenn.edu/cgi/viewcontent.cgi?referer=https://www.google.fr/&httpsredir=1&article=2780&context=faculty_scholarship – on the US rule of reason. It describes the historical background for the development of the rule of reason and its procedural requirements in US litigation.  It is short, very thorough, very opinionated, and should interesting to anyone interested on the basic underpinnings of competition law analysis (even if one is not a US antitrust lawyer). The paper covers a lot of ground, including: the trade-off between consumer and general welfare as antitrust standards;  different modes of analysis of antitrust infringements (e.g. per se, rule of reason and “quick look”); how to balance pro- and anti-competitive effects;  the shifting role of the per se prohibitions and rule of reason (i.e. a trend over the last 40 years towards reducing the role for per se rules as antitrust enforcement has focused more and more on the effect of individual business practices); and the main practical difficulties in applying the concepts underpinning a rule-of-reason analysis. While…