Download or read book Second Supplemental Declaration of J Gregory Sidak Concerning the Competitive Consequences of the Proposed Merger of Sirius Satellite Radio Inc and XM Satellite Radio Inc July 24 2007 written by J. Gregory Sidak and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this declaration, I critique two reports submitted to the Federal Communications Commission in July 2007 on behalf of XM and Sirius in support of their proposed merger: one by Professor Thomas W. Hazlett and another by Dr. Harold Furchtgott-Roth. I have previously addressed some aspects of both reports in my supplemental declaration, which can be downloaded from the Social Science Research Network. The reports of Professor Hazlett and Dr. Furchtgott-Roth fail to provide evidence that informs the relevant product market definition for this proceeding - namely, whether satellite digital audio radio services (SDARS) customers perceive alternative audio entertainment sources (including MP3 players, Internet radio, and terrestrial radio) as being sufficiently close substitutes such that a hypothetical monopoly provider of SDARS could not profitably increase prices. More importantly, both experts appear to reject the current antitrust paradigm for analyzing mergers. In its place, they offer novel theories for merger review. Even if XM's and Sirius's experts are correct about radically redesigning the framework for antitrust analysis of horizontal mergers, it is not appropriate for the FCC to announce some alternative merger guidelines without a proper rulemaking simply because doing so would suit the current merger proponents. I begin in Part I with a critique of Professor Hazlett's report. Professor Hazlett mischaracterizes which party bears the burden of proof in this merger proceeding, claiming that the burden falls on both merger opponents and regulatory agencies. I demonstrate that by focusing on quality-adjusted prices, Professor Hazlett ignores the merged firm's ability to increase commercials. Professor Hazlett also omits mentioning that SDARS customers would be required to subscribe to a new, more expensive package to receive any increase in quality according to his concept of a quality improvement. Next, I analyze Professor Hazlett's novel tests for product market definition. According to Professor Hazlett, a product market can exist only if the market value of all suppliers of the service exceeds the present value of funds invested. In a later section of his report, Professor Hazlett suggests another novel test for market definition, which considers the relative market value of terrestrial broadcasting properties to satellite radio operators. I demonstrate why these and other novel antitrust theories offered by Professor Hazlett are incorrect and should not be used. Finally, I respond to Professor Hazlett's criticisms of my original declaration. In Part II, I critique Dr. Furchtgott-Roth's report. Dr. Furchtgott-Roth seeks to extend the standard two-year window for entry analysis in merger cases so that nascent services like mobile Internet radio can have time to develop. That approach is not consistent with existing merger law. Dr. Furchtgott-Roth also repeats Professor Robert Willig's argument in the DirecTV-EchoStar proposed merger - that XM and Sirius do not compete against one another, yet each does compete against terrestrial radio and other services. I argue that this interpretation of the extent of existing competition between XM and Sirius is not plausible. Finally, in Part III, I perform an event-study analysis to test XM's and Sirius's hypothesis that the proposed merger would expand output and decrease prices (the "procompetitive hypothesis"). I examine the abnormal returns of satellite equipment manufacturers around the day on which the proposed merger of XM and Sirius was announced. I find that the market perceived the announcement of the proposed merger between XM and Sirius as "bad news" for satellite equipment manufacturers, which implies that the proposed merger would result in higher prices for SDARS customers.
Download or read book A la Carte written by Of Congress Library of Congress and published by . This book was released on 2005-01-01 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of early maps and atlases has in recent years engaged the interest of an increasing number of scholars from a variety of disciplines. A small but dedicated group of professional geographers has been concerned with the origins and development of geographical thought and knowledge, including the representation of geographical data on maps and charts. Professional historians have devoted their attention to the period of discoveries and the cartographic revolution it induced. Others with this specialization have chronicled the unrolling of the map of the United States as the trans-Mississippi country was explored and surveyed in the nineteenth century. Library of Congress specialists have, through the years, compiled comprehensive cartobibliographies and prepared scholarly studies relating to the history of cartography. Because of their permanent reference value and to make them available in a convenient format to a wider audience, the papers are reprinted in this volume. Individually the selections provide detailed information about a number of unique or distinctive early maps and atlases. Collectively the papers illuminate many fascinating milestones and landmarks along the evolutionary trail of cartographic history.
Download or read book Competition and Regulation in Telecommunications written by J. Gregory Sidak and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together academic economists and lawyers to evaluate and compare the regulation of telecommunications markets in Germany and the United States. The unifying theme in all of the pa pers is that the goal of public policy in this area should be to make the broadest and most functional competition possible by means of an ap propriate regulatory framework. Because the European and American telecommunications markets are becoming more intertwined each day, the issues addressed in this volume will be topical to the business, government, and academic communities for some time. For the chairman of the Monopoly Commission, Wernhard Moschel, the opening of the German telecommunications market has been successful in principle. This is clearly recognizable in the case of the competition in long-distance transport. Based on the view that the regulatory authority should make itself obsolete, Professor Moschel advocates an incremental review and gradual reduction of regulation.
Download or read book Toward Competition in Local Telephony written by William J. Baumol and published by American Enterprise Institute. This book was released on 1994 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses local competition in the telecommunications sector.
Download or read book Broadband in Europe written by Dan Maldoom and published by Springer Science & Business Media. This book was released on 2005-07-29 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Brussels Round Table, a forum of leading EU telecommunications operators and equipment manufacturers, commissioned these articles. They examine the deployment of broadband in European countries and make policy recommendations related to telecommunications regulation. Specific topics include pricing flexibility, competition, growth potential, likely future dynamics, competition, investment opportunities, eliminating excess regulation, facilitating longer-term points of view, and suggestions for transparent and competition-neutral subsidies.
Download or read book Foreign Investment in American Telecommunications written by J. Gregory Sidak and published by University of Chicago Press. This book was released on 2008-04-15 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt: Restrictions on foreign investment in U.S. telecommunications firms have harmed the interests of American consumers and investors, argues J. Gregory Sidak in this convincing study. Sidak shows why these restrictions, originally intended to protect America from the perils of wireless telegraphy by foreign agents, should be repealed. Basing his analysis on legislative history, statutory and constitutional interpretation, and finance and trade theory, Sidak shows that these restrictions no longer serve their national security purpose (if they ever did). Instead they deny American consumers lower prices and more robust innovation, hamper access of American investors to foreign telecommunications markets, and unconstitutionally impinge on freedom of speech. Sidak's study encompasses the Telecommunications Act of 1996, recent global mergers such as British Telecom-MCI, and the 1997 World Trade Organization agreement to liberalize trade in telecommunications services.
Download or read book Is the Telecommunications Act of 1996 Broken written by J. Gregory Sidak and published by A E I Press. This book was released on 1999 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Influential industry and government leaders speak out on the first major overhaul of US communications policy in over 60 years. Contributors include: F. Duane Ackerman; William P. Barr; Thomas J. Bliley; Paul W. MacAvoy; Richard D. McCormick; Gregory Sidak; Robert D. Willig; and John D. Zeglis.
Download or read book Market Delineation Algorithms Based on the Hypothetical Monopolist Paradigm written by Gregory Werden and published by . This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Evaluating the Performance of Merger Simulation written by Craig Peters and published by . This book was released on 2003 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Antitrust Paradigm written by Jonathan B. Baker and published by Harvard University Press. This book was released on 2019-05-06 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: At a time when tech giants have amassed vast market power, Jonathan Baker shows how laws and regulations can be updated to ensure more competition. The sooner courts and antitrust enforcement agencies stop listening to the Chicago school and start paying attention to modern economics, the sooner Americans will reap the benefits of competition.
Download or read book The Cambridge Handbook of Technical Standardization Law written by Jorge L. Contreras and published by Cambridge University Press. This book was released on 2017-12-14 with total page 1194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technical standards are ubiquitous in the modern networked economy. They allow products made and sold by different vendors to interoperate with little to no consumer effort and enable new market entrants to innovate on top of established technology platforms. This groundbreaking volume, edited by Jorge L. Contreras, assesses and analyzes the legal aspects of technical standards and standardization. Bringing together more than thirty leading international scholars, advocates, and policymakers, it focuses on two of the most contentious and critical areas pertaining to standards today in key jurisdictions around the world: antitrust/competition law and patent law. (A subsequent volume will focus on international trade, copyright, and administrative law.) This comprehensive, detailed examination sheds new light on the standards that shape the global technology marketplace and will serve as an indispensable tool for scholars, practitioners, judges, and policymakers everywhere.
Download or read book Intellectual Property Enforcement Guidelines written by Canada. Competition Bureau and published by Canadian Government Publishing. This book was released on 2000 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Protecting Competition from the Postal Monopoly written by J. Gregory Sidak and published by A E I Press. This book was released on 1996 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Private Express Statutes protect the U.S. Postal Service from competition in the delivery of letter mail. In contrast, few if any corresponding rules protect competition in other areas from the federal government's postal monopoly. Not only are the Postal Service's competitive activities arguably unrestricted by any explicit application of antitrust law, but public ownership and control exempt the Postal Service's actions from the corporate governance that is characteristic of private enterprises. The Postal Service can take advantage of its autonomy and protected letter mail monopoly to subsidize its entry and expansion in competitive markets, such as parcel post and express mail. That raises a fundamental issue: whether Congress's grant of a monopoly to the Postal Service over the delivery of letter mail should be used to restrict or supplant private commerce in other markets. In this book J. Gregory Sidak and Daniel F. Spulber examine the justifications for the publicly protected postal monopoly and its public ownership and control. On the basis of their economic and legal analysis, the authors demonstrate the need to prevent extension of the postal monopoly into competitive markets.
Download or read book The National Economists Club Reader written by Richard Thomas Gill and published by McGraw-Hill Science, Engineering & Mathematics. This book was released on 1991 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Law and Public Choice written by Daniel A. Farber and published by University of Chicago Press. This book was released on 2010-07-15 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Law and Public Choice, Daniel Farber and Philip Frickey present a remarkably rich and accessible introduction to the driving principles of public choice. In this, the first systematic look at the implications of social choice for legal doctrine, Farber and Frickey carefully review both the empirical and theoretical literature about interest group influence and provide a nonmathematical introduction to formal models of legislative action. Ideal for course use, this volume offers a balanced and perceptive analysis and critique of an approach which, within limits, can illuminate the dynamics of government decision-making. “Law and Public Choice is a most valuable contribution to the burgeoning literature. It should be of great interest to lawyers, political scientists, and all others interested in issues at the intersection of government and law.”—Cass R. Sunstein, University of Chicago Law School
Download or read book Monopoly Innovation and Due Process FTC V Qualcomm and the Imperative to Destroy written by J. Gregory Sidak and published by . This book was released on 2020-08-21 with total page 774 pages. Available in PDF, EPUB and Kindle. Book excerpt: On August 11, 2020, a three-judge panel of the Ninth Circuit unanimously reversed Judge Lucy Koh''s judgment in her bench trial in Federal Trade Commission v. Qualcomm Inc. on every question of law that Qualcomm had appealed. The panel also vacated her permanent, worldwide injunction, which would have destroyed Qualcomm''s business model. In debates over the wisdom of this case, abstractions typically fly back and forth like a shuttlecock in a game of badminton. My approach in this article is qualitatively different. I conduct in 774 pages a de novo review of the publicly available trial record. That review reveals many serious errors of fact and law, only some of which the Ninth Circuit addressed when reversing Judge Koh. The trial, the findings of fact, and the conclusions of law in FTC v. Qualcomm are alarming because: 1.Judge Koh adjudicated a claim, predicated on Aspen Skiing, that the FTC claims it never argued. Article III judges may not issue advisory opinions. They are not inquisitors. 2.Judge Koh revealed by her courtroom remarks during trial that she inadequately understood how the doctrine of patent exhaustion informed the antitrust questions presented. 3.Judge Koh impugned the integrity of Qualcomm''s founder and executives, its outside counsel, and its expert economic witnesses (as well as executives from Ericsson and Nokia whom Qualcomm called as percipient witnesses to testify in its defense). Yet, she credulously accepted as truthful, reliable, and relevant the self-interested testimony of competitors or customers, who might be expected to benefit from a permanent, worldwide injunction that would destroy a large portion of the value of Qualcomm''s uniquely innovative, successful, and productive business model. 4.Judge Koh suppressed all findings of fact concerning the testimony of the FTC''s expert economic witness, Professor Carl Shapiro. Most notably, she suppressed his admissions that would have materially exculpated Qualcomm under the FTC''s theory of liability positing a royalty "surcharge" and modem "tax" levied by Qualcomm for an exhaustive license to its cellular SEPs. This judicial conduct violated Federal Rule of Civil Procedure 52(a)(1) and the Due Process Clause of the Fifth Amendment as interpreted by the Supreme Court in Mathews v. Eldridge. 5.Judge Koh repeatedly displayed naïveté about economics in the most important government monopolization case since Microsoft. 6.Judge Koh seemed not to comprehend the economic consequences of FTC v. Qualcomm, either for Qualcomm or for other innovative firms. Because Judge Koh appeared not to understand what was at stake, she necessarily appeared not to understand the tradeoff to be made on the margin between the cost of, and the expected benefit from, her allowance of additional increments of procedural safeguards. In various ways documented in detail in this article, Judge Koh denied Qualcomm procedural safeguards whose marginal cost of provision would have been minimal or nil. Two examples were proper adherence to Federal Rule of Civil Procedure 52(a)(1) and to the controlling burden of production and burden of persuasion under American Express. The expected marginal benefit to Qualcomm from Judge Koh''s provision of these (denied) procedural safeguards was enormous. The Ninth Circuit properly reversed Judge Koh''s judgment, vacated her permanent, worldwide injunction, and vacated her grant to the FTC of partial summary judgment. But the panel might not have recognized, because it did not conduct a de novo review of Judge Koh''s findings of fact, that her decision also was deficient in its respect for those appearing in her courtroom, in its sophistication about the proper application of economic analysis to complex commercial litigation in technologically dynamic industries, and in its fidelity to due process of law.
Download or read book Beyond Critical Loss written by Gregory J. Werden and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Critical elasticity of demand" and "critical loss" analysis are now standard analytical tools for implementing the hypothetical monopolist paradigm for market delineation. Although these tools are highly useful, this paper presents three scenarios in which their standard application can be highly misleading and explains how the hypothetical monopolist paradigm can be fully and faithfully implemented in those scenarios. Only a tailored application of the hypothetical monopolist paradigm meets the rigorous admissibility tests applied by the courts since the Supreme Court's decision in Daubert.
