Dear friends, Following months of (d̶o̶u̶b̶t̶s̶ ̶a̶n̶d̶ ̶b̶u̶s̶t̶i̶n̶g̶ ̶m̶y̶ ̶h̶e̶a̶d̶) research, I am very pleased to share my latest article: “The Theory of Granularity: A Path for Antitrust in Blockchain Ecosystems“. In this article, I ask the following question: how to apply antitrust law, whose case law is almost entirely based on analyzing firms’ practices,...Read More
As in previous years (see 2015, 2016, 2017, and 2018), here are the world’s most downloaded antitrust articles of 2019 on SSRN. ************ 1. Collusion by Blockchain and Smart Contracts by Thibault Schrepel Harvard Journal of Law and Technology (3.473 downloads) Blockchain may transform transactions the same way Internet altered the dissemination and nature of information. If that were...Read More
This post is a response to John’s response to my post entitled “Why you are not paying with your data” (that’s confusing!). I am publishing it on December 27th to make sure that John is away and can’t criticize it further (< machiavellian laughter >). To be fair, John has already received these comments, and in any...Read More
In a world in which competition agencies would always rely on empirical evidence, I would be teaching the following to my students: when agencies investigate potential abuses of dominant positions, they are required to show (1) a dominant position, (2) an abuse and (3) a link (causation) between the alleged dominant position and the alleged abuse....Read More
Conferences are full of buzz words and gimmicks. In 2019, two of them are trending: “data is the new oil”, and… “you are paying with your data”. The first has been debunked by my friend Alec Stapp, see here. Let me now discuss the second one by asking you a few questions. Would you say that… you...Read More
I am delighted to announce that registrations for the conference co-organized by the University of Utrecht School of Law and the International Center for Law & Economics (ICLE) are now open. This conference entitled Dynamic Competition and Online Platforms: Evaluating Recent Government Reports will be held in Paris on December 4 and will have for focus to examine the merits and drawbacks of the spate...Read More
I was recently invited by Concurrences (thank you!) at the French Parliament to assess the need to retool antitrust law for digital issues. We had a very nice exchange among the panel that I would like to thank for opening up many new avenues of research. I also very much enjoyed the format – a real discussion...Read More
I am very pleased to add one Nobel laureate to my “Antitrust Conversations”: Vernon L. Smith. Vernon has been awarded the Nobel Prize in Economics in 2002 for “having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms.” According to the Nobel Committee, he has “laid...Read More
I asked European academics (and friends) specializing in competition law to send me the list of their three favourite articles ever written in the field, and to explain their choice. It’s nothing easy (at all), but you’ll find their contributions right below. Thibault Schrepel @ProfSchrepel **** Thibault Schrepel (VU Amsterdam/Stanford University) 1. Friedrich A....Read More
In Thinking, Fast and Slow (2013), Daniel Kahneman (Nobel recipient, 2002) devotes a chapter to what he calls “heuristic questions.” See for yourself: “A remarkable aspect of your mental life is that you are rarely stumped. True, you occasionally face a question such as 17 × 24 = ? to which no answer comes immediately to mind,...Read More
I spent last week in Brazil, where I was invited by the International Chamber of Commerce to discuss blockchain and antitrust. The event has been very informative, a great success! I warmly recommend you to go to the 2nd edition of the Brazilian Competition Day next year. I also took advantage of my stay in São Paulo...Read More
Friends, over the last several weeks, I’ve discussed my article entitled “Antitrust Without Romance” using videos. It has been a fun (and weird) experience. Whether you’d like to learn about the romantics, or to visit Amsterdam, you’ll find them all at the links below: Antitrust needs public choice Populism at antitrust agencies The newest trend in antitrust:...Read More
Here’s the seventh and final video of the series dealing with the article entitled “Antitrust Without Romance” (to be downloaded over here). This post discusses a simple idea: antitrust law is not a statement. Antitrust law uses economic variables, but it does not mean that its application is to be fully justified by the latter, indeed, its legal roots...Read More
Here’s the sixth video of my series dealing with the article entitled “Antitrust Without Romance” (to be downloaded over here). This post discusses the invisible hand; not the one of Adam Smith, but the one protecting top officials’ personal interests through institutional flaws. I am here calling for three types of reforms to ensure that antitrust agencies work for the greatest...Read More
Here’s the fifth video of my mini-series dealing with the article entitled “Antitrust Without Romance” (to be downloaded over). This post discusses the independence of antitrust agencies. A lot has been written on the subject, showing that they are, maybe, not ‘so’ independent, because, among other things, they are tied to the parliaments & governments which are funding...Read More
