Introduction: Antitrust and Regulatory Update

Introduction: Antitrust and Regulatory Update Review of Industrial Organization 25: 351, 2004. © 2004 Kluwer Academic Publishers. Printed in the Netherlands. LAWRENCE J. WHITE Stern School of Business, New York University This is the third year of a special feature of the Review of Industrial Organization: “Antitrust and Regulatory Update”. As was true of the two previous issues (which appeared in December 2002 and September 2003, respectively), I invited the Chief Economists of the Antitrust Division of the U.S. Department of Justice (DOJ), the Federal Trade Commis- sion (FTC), and the Federal Communications Commission (FCC) to write essays that review the major antitrust/regulatory/microeconomics issues that economists at their agencies have dealt with over the past year. I am pleased that this year again all three occupants of these positions – David Sibley at DOJ, Luke Froeb at FTC, and Martin Perry at FCC – agreed to write essays, in conjunction with co-authors at their agencies. The three essays cover a broad range of topics that I will not try to summarize in this introduction; they are best appreciated in their original form in the essays. However, there are two common themes that do emerge. One is the continued attention to merger analysis, which all three essays address. This should come as no surprise to anyone interested in antitrust policy. Though the U.S. economy is not experiencing the frenzy of mergers that characterized the late 1990s, nevertheless a stream of major mergers continues–afew of which do pose potential antitrust or regulatory prob- lems. How to address merger issues – both the details of specific merger analyses, as well as broader principles – is a common theme across the three essays. A second theme is the role of information, and its dissemination, in the efficient (or not-so-efficient) operation of markets. The FTC and FCC essays address this issue and show some of the current efforts and thinking about information and its dissemination at the two agencies. As has been true for the past two years, I believe that readers of the Review will find these three essays well worth their time. Review of Industrial Organization Springer Journals

Introduction: Antitrust and Regulatory Update

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Kluwer Academic Publishers
Copyright © 2004 by Kluwer Academic Publishers
Economics; Industrial Organization; Microeconomics
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