Congratulations to Prof. Daniel Spulber of Northwestern University on winning the 2023 Concurrences Antitrust Writing Award for his groundbreaking article on antitrust and innovation competition!
The Awards Editorial Committee reviewed over 345 Academic articles submitted for nomination. The Academic Steering Committee, Board, and readers then voted for their 11 favorites. Professor Spublber's paper Antitrust and Innovation Competition received the award in the Economics category.
Innovation competition presents challenges for antitrust law and enforcement policy. Innovation has generated changes in the nature of competition as firms introduce new transaction techniques, product designs, and production processes. Innovation competition is driving the ‘Business Revolution’ in retail, wholesale, manufacturing, services, and financial technology. Transaction innovation in online platforms and multi-sided markets has raised antitrust concerns about anticompetitive conduct, vertical restraints, consumer privacy, and barriers to entrepreneurship. The article argues that although antitrust policy makers recognize the importance of innovation competition, they need to update their economic frameworks. Antitrust policy makers need to move beyond traditional analysis based on the twin frameworks of perfect competition and imperfect competition. The article provides an introduction to the emerging Economics of Technology & Innovation and examines some implications for antitrust policy. First, antitrust policy should shift its focus from price competition without technological change to address non-price aspects of innovation competition. Secondly, antitrust policy should apply economic analysis that recognizes the critical role of Intellectual Property and technology standards in innovation competition. Thirdly, antitrust policy toward horizontal and vertical mergers should consider developments in the economic analysis of innovation competition.
The views expressed in this article are solely those of the authors, who are responsible for the content, and do not necessarily represent the views of Vega Economics. For more information about Prof. Spulber, please email experts@vegaeconomics.com. Click here to read the full article online or download it at the link below.
