Interview with Michael Baye, Director, Bureau of Economics, Federal Trade Commission

Dr. Baye talks about the role of the FTC Bureau of Economics and some of the Bureau's recent activities, and offers his views on merger analysis generally, and the role of econometric evidence in merger analysis.

Improving Critical Loss Analysis

Joseph Farrell and Carl Shapiro offer two new tests to determine, using Critical Loss Analysis, whether a candidate group of products contains enough substitutes to form a market, using firms’s decisions actually made in the normal course of business.

Implementing the Hypothetical Monopolist SSNIP Test with Multi-Product Firms

Serge Moresi, Steven Salop, and John Woodbury describe how to implement the hypothetical monopolist SSNIP test for market definition in the context of merger cases where firms produce multiple differentiated products.

To Cooperate or Not: The Corporate Leniency Program After Stolt-Nielsen

Ed Magarian, William Michael, Jr., Michael Lindsay, and James Nichols discuss the course of the Stolt-Nielsen leniency revocation case and its likely impact on corporations seeking to avail themselves of the Antitrust Division's Corporate Leniency Program.

The Intersection of Antitrust with Product Safety—The Need for Greater Collaboration by Antitrust and Regulatory Lawyers when Counseling Corporate Clients

Susie Hoeller highlights the need for antitrust guidance in counseling corporate clients faced with product recalls or changes in logistics due to public safety or environmental concerns.

Paper Trail—Working Papers and Recent Scholarship

We review a paper by Dennis Carlton and Michael Waldman criticizing the Antitrust Modernization Commission’s defintion of safe harbors in the analysis of bundled discounts, and author Malcolm Coate responds to comments in our last issue on his working paper on barriers to entry in merger analysis.