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Peer reviewed publications highlighted

2023 - “Cheap Exclusion in Markets with Multiple Complements,” with Mark Israel and Erica Benton, June, 2023, forthcoming in International Journal of Industrial Organization, Available at

2022 - "The DOJ and FTC’s RVI on Merger Enforcement – Brief Commentary on Labor Market Effects, Non-Price Effects, and the Relevance of the Impact of Mergers on Rivals, Antitrust Report 1-22, (LexisNexis Inc., May 2022, O'Brien, Daniel P.)  SSRN:

2022 - “Tethering Vertical Merger Analysis,” CPI Antitrust Chronicle, Competition Policy International, April 2022, Available at SSRN: 

2021 - “Vertical Mergers with Bilateral Contracts and Upstream and Downstream Investment,” with Mark Israel, September 2021, Available at SSRN:

2020 - “The Economics of Vertical Restraints in Digital Markets,” in The Global Antitrust Institute Report on the Digital Economy, The Global Antitrust Institute, Fairfax, VA, 2020, Available at SSRN:

2019 - "The Competitive Effects of Common Ownership: Theory, Applications, and Mis-Applications, Antitrust Chronicle, Competition Policy International, May 21, 2019. [pdf]

2019 - “Privacy Economics: Survey of the Literature and Implications for Public Policy,” with Rodrigo Montez, FTC Hearings, Federal Trade Commission, Docket ID FTC-2019-0032, June 30, 2019 [pdf]

2018 - “Agency Pricing and Bargaining: Evidence from the E-Book Market,” with Babur De los Santos and Matthijs Wildenbeest, Matthijs (October 1, 2018). NET Institute Working Paper No. 18-14; Kelley School of Business Research Paper No. 18-90. Available at SSRN:  [pdf]

2018 - “Tying, Bundling, and Double Marginalization,” with Greg Shaffer (April 18, 2018). Available at SSRN: [pdf]

2017 - “All-units Discounts and Double Moral Hazard," Journal of Economic Theory, 170, July, 1-28.  

2017 - “The Competitive Effects of Common Ownership: We Know Less Than We Think,”  with Keith Waehrer, Antitrust Law Journal, 81, No 3, 729-776.

2017 - The Competitive Effects of Common Ownership: Ten Points on the Current State of Play, Hearing on Common Ownership by institutional investors and its impact on competition, OECD, December 13, 2017. [pdf]


2017 - “Conditional Pricing Practices: A Short Primer," with Patrick DeGraba and Patrick Greenlee, FTC Working Paper, September 2017, available at [pdf]

2017 - “Price-Concentration Analysis: Ending the Myth and Moving Forward," working paper, July 2017, available at [pdf]

2017 - “The Competitive Effects of Common Ownership: Economic Foundations and Empirical Evidence," working paper, July 2017, available at id=3008331. [pdf]

2017 - “How Group Purchasing Organizations Reduce Healthcare Procurement Costs in a Highly Competitive Market (with Jon Liebowitz and Russell Anello), The Antitrust Source, June 2017. [pdf]


2015 - “Anticompetitive Effects of Common Ownership: Overview of the Theory, and Review of the Empirical Findings of Azar et al.," Transportation, Energy & Antitrust, American Bar Association, Fall, 3-17. [Here it is: (1) unfunded; (2) published while I was an economist at the FTC, for FREE; (3) pointing out the flaws with AST, (4) the same flaws examined in greater depth in the my 2017 papers on common ownership.] [pdf]

2014 - "Privacy in Online Markets: A Welfare Analysis of Demand Rotations," with Doug Smith, FTC Working Paper No. 323, [Dec 2014 update]

2014 - “The Welfare Effects of Third Degree Price Discrimination In Intermediate Good Markets: The Case of Bargaining," RAND Journal of Economics, 45(1), 92-115.

2013 - “The Welfare Effects of Use-or-Lose Provisions in Markets with Dominant Firms," with Ian Gale, American Economic Journal: Microeconomics, 5, 175-193.

2008 - “The Antitrust Treatment of Vertical Restraints: Beyond the Possibility Theorems," in The Pros and Cons of Vertical Restraints, Konkurrensverket, Swedish Competition Authority, Stockholm. [pdf] 

2006 - “Reply to Winter's `Vertical Restraints and Antitrust Policy: A Reaction to Cooper, Froeb, O'Brien, and Vita'," with James Cooper, Luke Froeb, and Michael Vita, Competition Policy International, 2, Spring, 189-193.

2005 - “Bargaining, Bundling, and Clout: The Portfolio Effects of Horizontal Mergers," with Greg Shaffer, RAND Journal of Economics, 36, Autumn, 573-595.


2005 - “Vertical Antitrust Policy as a Problem of Inference," with James Cooper, Luke Froeb, and Michael Vita, International Journal of Industrial Organization, 23, 639-664.


2005 - “Vertical Restrictions and Antitrust Policy: What About the Evidence?" with James Cooper, Luke Froeb, Michael Vita, Competition Policy International, 1:2.


2005 - “A Comparative Study of United States and European Union Approaches to Vertical Policy," with James Cooper, Luke Froeb, and Michael Vita, George Mason Law Review, 13, Winter, 289-308.


2005 - “Issues in Scanner Data," with Daniel Hosken, Michael Vita, and David Scheffman, in ABA Section of Antitrust Law: Econometrics (2005), previously titled “Demand Estimation and its Application to Horizontal Merger Analysis," FTC Bureau of Economics Working Paper No. 245.

2005 - “Does Price Discrimination Intensify Competition? Implications for Antitrust," with James Cooper, Luke Froeb, and Steven Tschantz, Antitrust Law Journal, 72:2.


2004 - “The State of Critical Loss Analysis: Reply to Scheffman and Simons," with Abraham Wickelgren, The Antitrust Source, March.


2003 - “A Critical Analysis of Critical Loss Analysis," with Abraham Wickelgren, Antitrust Law Journal, 71.


2001 - “The Antitrust Implications of Capacity Reallocation By A Dominant Firm," with Ian Gale, Journal of Industrial Economics, 49:2, June, 137-160.


2001 - “Comments on The Microsoft Antitrust Case," Journal of Industry Competition & Trade, 1:1, March 2001, 53-61.

2001 - “The Competitive Effects of Passive Minority Equity Interests: Comment on Dubrow," with Steven C. Salop, Antitrust Law Journal, 69:2, 2001, 611-625.

2000 - “Competitive Effects of Partial Ownership: Financial Interest and Corporate Control," with Steven C. Salop, Antitrust Law Journal, 67:3, 2000, 559-613.


1998 - “Introduction to the Economic Foundations of Antitrust," in Antitrust Fundamentals: DC 98, Section of Antitrust Law, American Bar Association, 1998.


1996 - “Analyzing Vertical and Horizontal Cross Ownership in Cable Television: The Time Warner- Turner Merger (1996)," with Stanley M. Besen, E. Jane Murdoch, Steven C. Salop, and John R. Woodbury, in Kwoka, J. and L. White eds., The Antitrust Revolution: The Role of Economics, Oxford University Press, 1998.


1997 - “Non-linear Contracts, Foreclosure, and Exclusive Dealing," with Greg Shaffer, Journal of Economics & Management Strategy, 6:4, Winter,, 755-785.


1994 - “The Welfare Effects of Forbidding Discriminatory Discounts: A Secondary Line Analysis of Robinson-Patman," with Greg Shaffer, Journal of Law, Economics and Organization, 10:2.


1994 - “The Existence of Pareto Superior Price Limits," with Laura E. Kodres, American Economic Review, 84, September, 919-932.

1993 - “On the Dampening-of-Competition Effect of Exclusive Dealing," with Greg Shaffer, Journal of Industrial Economics, 41, June, 215-221.


1992 - “Vertical Control With Bilateral Contracts," with Greg Shaffer, RAND Journal of Economics, 23, Autumn 1992, 299-308.


1992 - “Comment on `Quid-Pro-Quo Restraint and Spurious Injury: Subsidies and the Prospects of CVDs' by Michael P. Leidy," in Deardorff, A. and R. Stern, Analytical and Negotiating Issues in the Global Trading System, The University of Michigan Press, Ann Arbor, 1994.


1990 - “Vertical Integration," in The Magill Survey of Social Science, Salem Press, 1991.


1990 - “Regulating By Manipulating Bargaining Power: Price Discrimination Policy In International Telecommunications," mimeo, June 1990.

1989 - "The Uniform Settlements Policy in International Telecommunications: A Noncooperative Bargaining Model of Intermediate Product 3rd Degree Price Discrimination," Doctoral Dissertation, Northwestern University, 1989.

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