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The Year in Review: Economics at the Antitrust Division 2023–2024

Author

Listed:
  • Susan Athey

    (Stanford University)

  • Alex Gross

    (United States Department of Justice)

  • Ioana Marinescu

    (University of Pennsylvania)

  • Jennifer Shanefelter

    (United States Department of Justice)

Abstract

The publication of the 2023 Merger Guidelines (MG) by the DOJ and FTC marked a significant event in the expanding influence of economics on public guidance in antitrust. The economic frameworks that are outlined in the MG are not limited to purely horizontal or vertical mergers. The MG more explicitly embrace an approach of assessing risk of harm to competition, which in turn supports the consideration of dynamic theories such as entrenchment or expansion of market power. The MG also elaborate on mergers that involve multi-product firms, platforms, and labor market competition. During this eventful year, the Division also successfully blocked JetBlue’s proposed acquisition of Spirit and obtained conduct relief to protect a specific type of labor market – chicken growers – from anticompetitive conduct by processors who compete for their services.

Suggested Citation

  • Susan Athey & Alex Gross & Ioana Marinescu & Jennifer Shanefelter, 2024. "The Year in Review: Economics at the Antitrust Division 2023–2024," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 65(4), pages 809-829, December.
    • Handle: RePEc:kap:revind:v:65:y:2024:i:4:d:10.1007_s11151-024-09998-2
    DOI: 10.1007/s11151-024-09998-2
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    References listed on IDEAS

    as
    1. José Azar & Ioana Marinescu, 2024. "Monopsony Power in the Labor Market: From Theory to Policy," Annual Review of Economics, Annual Reviews, vol. 16(1), pages 491-518, August.
    2. Susan Athey & Mark Chicu & Malika Krishna & Ioana Marinescu, 2023. "The Year in Review: Economics at the Antitrust Division, 2022–2023," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 63(4), pages 525-544, December.
    3. Brian Clark & Jeffrey S. Lien & Jeffrey M. Wilder, 2021. "The Year in Review: Economics at the Antitrust Division, 2020–2021," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 59(4), pages 651-663, December.
    4. Robin S. Lee, 2013. "Vertical Integration and Exclusivity in Platform and Two-Sided Markets," American Economic Review, American Economic Association, vol. 103(7), pages 2960-3000, December.
    5. José Azar & Ioana Marinescu & Marshall Steinbaum, 2022. "Labor Market Concentration," Journal of Human Resources, University of Wisconsin Press, vol. 57(S), pages 167-199.
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    Full references (including those not matched with items on IDEAS)

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