Ahead of His Time: The Singular Contributions of Richard Markovits
Loading...
Author/Creator
Author/Creator ORCID
Date
2016-02-09
Type of Work
Department
Program
Citation of Original Publication
Brennan, Timothy J.; Ahead of His Time: The Singular Contributions of Richard Markovits; The Antitrust Bulletin, Volume: 61 issue: 1, page(s): 109-120, 9 February, 2016; https://doi.org/10.1177%2F0003603X15625108
Rights
This item is likely protected under Title 17 of the U.S. Copyright Law. Unless on a Creative Commons license, for uses protected by Copyright Law, contact the copyright holder or the author.
Brennan, Timothy J.; Ahead of His Time: The Singular Contributions of Richard Markovits; The Antitrust Bulletin, Volume: 61 issue: 1, page(s): 109-120, 9 February, 2016; https://doi.org/10.1177%2F0003603X15625108
Brennan, Timothy J.; Ahead of His Time: The Singular Contributions of Richard Markovits; The Antitrust Bulletin, Volume: 61 issue: 1, page(s): 109-120, 9 February, 2016; https://doi.org/10.1177%2F0003603X15625108
Subjects
Abstract
Prof. Markovits has been a prescient commenter on antitrust. His early and insightful characterization of the harm from merger as the loss to consumers from being able to trade off their two top choices can be seen in the use of diversion ratios in unilateral effects merger cases. So too does the change in assessing unilateral effects mergers from market concentration to direct measurement of competitive effects match his skepticism of market definition. I share Prof. Markovits’s view that prior dominance should not be a prerequisite for monopolization cases, at least those involving exclusionary practices. I am skeptical that intent should play a role in monopolization, other than as a source of expert evidence that a practice will be harmful. Whether antitrust should be about maximizing consumer welfare or punishing powerful actors with bad intent may be a fundamental divide in perspective in the antitrust community.