Public Workshop: Merger Enforcement, Agenda

Morning Session

Opening Remarks
(16:43-minute video)

Timothy J. Muris, Chairman, Federal Trade Commission (FTC) [Prepared Remarks]
R. Hewitt Pate, Assistant Attorney General, Antitrust Division, U.S. Department of Justice (DOJ)

Hypothetical Monopolist Test

Moderator: Gregory J. Werden (DOJ)

Panel:
William Blumenthal, King & Spalding
Why Bother?: On Market Definition under the Merger Guidelines

John D. Harkrider, Axinn, Veltrop & Harkrider
Operationalizing the Hypothetical Monopolist Test

Barry C. Harris, Economists, Inc.
Recent Observations About Critical Loss Analysis

Willard K. Tom, Morgan, Lewis & Bockius
Market Definition Under the Merger Guidelines: Some Modest Proposals

Afternoon Session

Concentration & Market Shares

Moderator: David S. Sibley (DOJ)

Panel:
John E. Kwoka, Jr., Northeastern University
Some Thoughts on Concentration, Market Shares, and Merger Enforcement Policy

Janet L. McDavid, Hogan & Hartson
Steven A. Newborn, Weil, Gotshal & Manges
Craig M. Newmark, North Carolina State University
Price-Concentration Studies: There You Go Again

Charles F. “Rick” Rule, Fried, Frank, Harris, Shriver & Jacobson
Vincent Verouden, European Commission, DG Comp.
The Role of Market Shares and Market Concentration Indices in the European Commission’s Guidelines on the Assessment of Horizontal Mergers Under the EC Merger Regulation
Annex
Concentration Indices and Market Shares in the EU Horizontal Merger Guidelines

Monopsony

Moderator: Kenneth Heyer (DOJ)

Panel:
Peter Carstensen, University of Wisconsin
Buyer Power and Merger Analysis—The Need for Different Metrics

Marius Schwartz, Georgetown University
Should Antitrust Assess Buyer Market Power Differently than Seller Market Power?

C. Robert Taylor, Auburn University
The Many Faces of Power in the Food System

Morning Session

Non-Price Competition/Innovation

Moderator: Mark W. Frankena (FTC)

Panel:
Ronald W. Davis
Innovation Markets: An Overview

Ann Malester, Weil, Gotshal & Manges
Richard T. Rapp, NERA
Innovation Market Analysis After Genzyme-Novazyme

Steven C. Sunshine, Shearman & Sterling
Innovation Markets Analysis: When Should This Tool Come Out of the Shed?

Unilateral Effects

Moderator: Luke M. Froeb (FTC)
Unilateral Effects Session

Panel:
Joseph Kattan, Gibson, Dunn & Crutcher
Unilateral Effects

Gregory K. Leonard, NERA
In Defense of Merger Simulation

Abbott B. “Tad” Lipsky, Jr., Latham & Watkins
Unilateral Effects: A Case Study of the Role of Economics in Antitrust Decision Making

Ariel Pakes, Harvard University
Valerie Robassa, EC/DG Comp.
US Workshop on Merger Enforcement

Gregory J. Werden, Justice Department
A Daubert Discipline for Merger Simulation

Afternoon Session

Coordinated Effects

Moderator: Michael H. Knight (FTC)

Panel:
Jonathan B. Baker, American University
Andrew R. Dick, Charles River Associates
Strengthening the Micro Foundations for Coordinated Interaction in Merger Analysis

Deborah A. Garza, Fried, Frank, Harris, Shriver & Jacobson
James R. Loftis
Coordinated Effects

Deborah P. Majoras, Jones Day Reavis & Pogue
Steven C. Salop, Georgetown University
David T. Scheffman, LECG
Quantitative Analyses of Potential Competitive Effects from a Merger
Potential “Non-Unilateral” Effects From a Merger

Uncommitted Entry

Moderator: Theodore Gebhard (FTC)

Panel:
Timothy Daniel, NERA
Uncommitted Entry in the Merger Guidelines: It’s Not Whether – It’s When

A. Douglas Melamed, Wilmer Cutler Pickering
Outline of Comments re “Uncommitted Entry”

Frederick R. Warren-Boulton, MiCRA
Mark D. Whitener, General Elec. Co.
Firms that Participate Through a Supply Response: Uncommitted Entry
Slides

Morning Session

Efficiencies/Dynamic Analysis/Integrated Analysis

Moderators: Alden F. Abbott & Mary T. Coleman (FTC)

Panel:
J. Mark Gidley, White & Case
Ilene Knable Gotts, Wachtell, Lipton, Rosen & Katz
The Role of Efficiencies in Integrated Merger Analysis
Gotts, Ilene Knable and Calvin S. Goldman, “The Role of Efficiencies in M&A Global Antitrust Review: Still in Flux?,” in Annual Proceedings of the Fordham Corporate Law Institute, International Antitrust Law and Policy, ed. Barry E. Hawk (Fordham Corporate Law Institute, 2003)

William J. Kolasky, Wilmer Cutler Pickering
Prepared Remarks
Kolasky, William J., “Effectively Advocating Efficiencies in Merger Reviews,” Antitrust Report, Spring 2003
Kolasky, William J., “Lessons from Baby Food: The Role of Efficiencies in Merger Review,” Antitrust, Vol. 16, No. 1, Fall 2001
Kolasky, William J. and Andrew R. Dick, “The Merger Guidelines and the Integration of Efficiencies into Antitrust Review of Horizontal Mergers,” Antitrust LJ, Vol. 71, No. 1, 2003

Robert Pitofsky, Georgetown University
David T. Scheffman, LECG
Efficiencies/Dynamic Analysis/Integrated Analysis

Joseph J. Simons, Paul, Weiss, Rifkind, Wharton & Garrison
Unified Merger Analysis: Integrating Anticompetitive Effects and Efficiencies, and Emphasizing First Principles

Vincent Verouden, EC/DG Comp.
Merger Analysis and the Role of Efficiencies in the EU
Annex

Afternoon Session

Economists and Lawyers’ Roundtable

Moderator: R. Hewitt Pate (DOJ)

Panel:
William Baer, Arnold & Porter
Jonathan B. Baker, American University
Wayne D. “Dale” Collins, Shearman & Sterling
James Loftis, Gibson, Dunn & Crutcher
James F. Rill, Howrey & Simon
Daniel L. Rubinfeld, University of California, Berkeley
Robert D. Willig, Princeton University
Dennis W. Carlton, University of Chicago