The Naked Sale

The pervasive problem of absence of information on sellers admits only of a government fix. Only government can extract seller information and present it to consumers in a way that maximizes consumer welfare. Buyers can try to unite, but sellers will never volunteer information. Only an agent wielding the scissors of the law can lay […]

Pay for Delay

I have been following the debate in the pages of Antitrust between two groups of distinguished economists about “pay for delay”, which is when a branded drug maker pays a generic drug maker to delay entry into the market.   The question is how much pay for delay do you need before you can conclude […]