In this paper, the authors explain the “hypothetical monopolist test” that has become the standard methodology for identifying relevant antitrust markets in merger cases, and discuss two approaches to implementing the test. They focus on the implementation of the test when firms offer multiple products or services, either inside or outside the candidate market, and discuss the “hypothetical cartel test” introduced in the 2010 US Merger Guidelines. This paper is forthcoming, as edited, in Antitrust Economics for Lawyers (LexisNexis), Chapter 1.
An economic interpretation of Rule 23(b)(3) for antitrust classes
In this article, CRA’s Sean Durkin explains the economic incentives behind class definitions in antitrust cases and why those incentives can lead to classes...