The U.S. Federal Trade Commission at 100: A Symposium on FTC Economics
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It is a pleasure to introduce this mini-symposium on FTC economics as part of the FTC’s centenary. While I was Director of the Bureau of Economics (BE), in 2009–2012, internal discussions of the centenary were already under way, and one enthusiastic attorney emailed a wide internal distribution list remarking on that and some other U.S. public policy events of 1914, remarking “What a great year!” The many millions of victims of World War I would be less enthusiastic, but we commemorate the founding of one of the key consumer protection and competition institutions of the United States.
Our symposium has three articles: by F. M. Scherer, by Michael Salinger and Robert Levinson, and by Paul Pautler. Scherer and Salinger were among my distinguished predecessors as BE Director; Levinson was an economist in BE; and Pautler was among the most senior career BE economists, now recently retired from serving as Deputy Director for consumer protection.
Scherer’s article describes two FTC cases...
KeywordsConsumer Protection Equilibrium Path Horizontal Merger Merger Guideline Antitrust Division
- Carlson, J., Dafny, L. S., Freeborn, B. A., Ippolito, P. M., & Wendling, B. W. (2013). Economics at the FTC: Physician Acquisitions, Standard Essential Patents, and Accuracy of Credit Reporting. Review of Industrial Organization, 43, 303–326.Google Scholar
- FTC Bureau of Economics (2010). Pay-for-delay: How drug company pay-offs cost consumer billions. http://www.ftc.gov/reports/pay-delay-how-drug-company-pay-offs-cost-customers-billions-federal-trade-commission-staff.
- Kaplow, L. (2013). Competition policy and price fixing. Princeton: Princeton University Press.Google Scholar
- Posner, R. (2001). Antitrust Law (2nd ed.). Chicago: University of Chicago Press.Google Scholar