For more than a decade, public policymakers, competition agencies, courts, and government authorities around the world have been developing an increasingly detailed set of rules governing and defining fair, reasonable, and nondiscriminatory (FRAND) terms for the licensing of standard-essential patents (SEPs). It is time to take a step back, to think hard about where we

Regarding John W. Mayo and Mark Whitener’s March 22 Outlook essay, “Five Myths: Antitrust law”:

The authors concluded by noting that “enforcers and courts tend to take competitors’ complaints about their rivals’ behavior with a grain of salt.” That is true, and, in my view, more unfortunate the more true it is.


The Organization of Petroleum Exporting Companies (OPEC) is one of the longest-running and most successful price-fixing cartels in history.

It proved its power in the 1970s by drumming up a “shortage” of oil that resulted in gasoline rationing in the U.S. Here in Washington, D.C. and the surrounding region, you could buy gas for your

Sunday’s CNBC headline reads, “OPEC and allies finalize record oil production cut after days of discussion.”

One normally would interpret that headline to mean that OPEC agreed with non-OPEC members Russia, Venezuela, and Mexico on the production cut. One would not assume that the word “allies” refers to the United States. After all, we have

Over the past several decades, antitrust analysis has become tightly focused on the prices consumers pay as the sole, or at least the primary, measure of consumer welfare. The focus on prices to consumers has in turn led to too narrow a focus on efficiency as a proxy for consumer welfare because regulators assume that