Tuesday, November 15, 2011
Posted by D. Daniel Sokol
The Henry G. Manne Program in Law & Economics Studies presents A Panel Discussion on Dynamic Competition and Current Merger Policy to be held at George Mason University School of Law, Wednesday, December 14, 2011. The conference will run from 8:30 A.M. to 12:00 P.M.
Traditional merger analysis focuses on the degree to which a combination of producers is likely to lessen competition on price, output, and quality. The relationship between short-run market performance and innovation, however, is uncertain. In “Schumpeterian” competition, markets may be characterized by high degrees of concentration, but competition is still vibrant as firms jockey to displace the market leader through innovation. Thus, placing too much emphasis on short-run indicia of competition in dynamic industries may harm consumers in the long run. Recent high-profile mergers in rapidly evolving industries have brought the potential conflicts between the goals of promoting short-run competition and innovation into relief.
On December 14th, the Law & Economics Center at George Mason University School of Law will host a half-day symposium entitled: “Dynamic Competition and Current Merger Policy.” This program will examine topics such as:
- What do we know about the relationship between short-run competition and innovation?
- To what extent do agencies account for dynamic considerations in merger analysis?
- Do the 2010 Merger Guidelines mark an improvement in incorporating dynamic considerations?
- What should the agencies count as efficiencies?
- What weight should dynamic efficiencies be given in merger analysis?
8:30-10:00am Panel 1: Dynamic Concerns in Competitive Effects Analysis
Moderator: James Cooper, Law & Economics Center
Howard Shelanksi, Georgetown University Law Center
D. Bruce Hoffman, Hunton & Williams LLP
Gregory J. Werden, U.S. Department of Justice
Alden Abbot, Federal Trade Commission
10:15 – 11:45 am Panel 2: Dynamic Efficiencies & Merger Analysis
Moderator: Jonathan Baker, American University School of Law
Joshua D. Wright, George Mason University School of Law
Hugh M. Hollman, Jones Day
Michael Mandel, Progressive Policy Institute
Robert A. Lipstein, Crowell & Moring LLP
George Mason University School of Law
3301 Fairfax Drive
Arlington, VA 22201
The Henry G. Manne Program in Law & Economics honors the legacy of Henry G. Manne, Dean Emeritus of George Mason Law School and founder of the Law & Economics Center. Manne was a trailblazer in the development of law and economics, not only as a prominent and influential scholar, but also as an academic entrepreneur. He spurred the development of law and economics into the most influential area of legal scholarship through his Economics Institutes for Law Professors and Law Institutes for Economics Professors. The Manne Program promotes law-and-economics scholarship by funding faculty research and hosting research roundtables and academic conferences.