Farrell and Shapiro: The Sequel
1 June 2009
By Dr. Mario A. Lopez et al.
Joe Farrell and Carl Shapiro are co-authors on a number of papers and former University of California-Berkeley colleagues who share similar views on antitrust issues. Under their leadership, the Bureau of Economics at the Federal Trade Commission and the Economic Analysis Group at the Department of Justice likely will have a closer working relationship and more aligned goals than they have had in years. This article from Antitrust reviews Farrell and Shapiro's writings, which shed light on the likely directions they will seek to take antitrust enforcement.
Farrell and Shapiro's writings suggest that they will pursue aggressive antitrust enforcement in a number of areas. Moreover, all signs indicate that they will require that economic arguments -- whether put forward by parties or by the agency staff -- be coherent and well-supported. Certainly, the authors note, merging parties, their counsel, and their economic advisors will face significant challenges in the years ahead.
