Steven C. Salop | |
---|---|
Born | December 23, 1946 |
Known for | Work regarding the concept of raising rivals' costs |
Academic background | |
Education | University of Pennsylvania (B.A.) Yale University (Ph.D) |
Academic work | |
Institutions | Georgetown University Law Center |
Steven C. Salop (born December 23,1946) is an American economist and academic whose work focuses on antitrust policy. He is a professor of economics and law at the Georgetown University Law Center. [1]
Salop is known for his scholarship on exclusionary practices [2] and vertical mergers. [3]
Together with David Scheffman,he popularized the concept of raising rivals' costs as an antitrust violation.
Salop earned his undergraduate degree at the University of Pennsylvania in 1968 and a Ph.D. in Economics from Yale University in 1972. [1]
Before joining the Georgetown Law faculty in 1981,he served as Associate Director for Special Projects with the Bureau of Economics of the Federal Trade Commission,as an adjunct professor of economics at the University of Pennsylvania. He was also an economist with the Civil Aeronautics Board and Federal Reserve Board. [4]
Salop teaches courses in Antitrust Law,Economic Reasoning and the Law,and has conducted a Faculty Workshop in Law and Economics. [1] He does consulting work at Charles River Associates. [5]
Salop is a recipient of the AALS Antitrust Lifetime Achievement Award (2019) [6] and AAI Antitrust Achievement Award (2010). [7]
Oliver Eaton Williamson was an American economist,a professor at the University of California,Berkeley,and recipient of the 2009 Nobel Memorial Prize in Economic Sciences,which he shared with Elinor Ostrom.
Law and economics,or economic analysis of law,is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s,primarily from the work of scholars from the Chicago school of economics such as Aaron Director,George Stigler,and Ronald Coase. The field uses economics concepts to explain the effects of laws,to assess which legal rules are economically efficient,and to predict which legal rules will be promulgated. There are two major branches of law and economics;one based on the application of the methods and theories of neoclassical economics to the positive and normative analysis of the law,and a second branch which focuses on an institutional analysis of law and legal institutions,with a broader focus on economic,political,and social outcomes,and overlapping with analyses of the institutions of politics and governance.
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago,some of whom have constructed and popularized its principles. Milton Friedman and George Stigler are considered the leading scholars of the Chicago school.
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The Association of American Law Schools (AALS),formed in 1900,is a non-profit organization of 176 law schools in the United States. An additional 18 schools pay a fee to receive services but are not members. AALS incorporated as a 501(c)(3) non-profit educational organization in 1971. The association is a member of both the American Council on Education and the American Council of Learned Societies its headquarters are in Washington,D.C.
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law,anti-monopoly law,and trade practices law;the act of pushing for antitrust measures or attacking monopolistic companies is commonly known as trust busting.
Omicron Delta Epsilon is an international honor society in the field of economics,formed from the merger of Omicron Delta Gamma and Omicron Chi Epsilon,in 1963. Its board of trustees included well-known economists such as Robert Lucas,Paul Romer,and Robert Solow. ODE is a member of the Association of College Honor Societies;the ACHS indicates that ODE inducts approximately 4,000 collegiate members each year and has more than 100,000 living lifetime members. There are approximately 700 active ODE chapters worldwide. New members consist of undergraduate and graduate students,as well as college and university faculty;the academic achievement required to obtain membership for students can be raised by individual chapters,as well as the ability to run for office or wear honors cords during graduation. It publishes an academic journal entitled The American Economist twice each year.
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Herbert Hovenkamp is an American legal scholar serving as James G. Dinan University Professor at the University of Pennsylvania Law School and the Wharton School of the University of Pennsylvania. Prior to that he held the Ben and Dorothy Willie Chair at the University of Iowa College of Law. Hovenkamp is a recognized expert and prolific author in the area of antitrust law.
Charles Horace Berry was an American economist and specialist in industrial organization and applied microeconomics. He is well known for his derivation of the Berry Ratio,an analytical tool used extensively by tax and transfer pricing analysts over the world. Berry consulted with numerous government agencies,corporations,and law firms on antitrust and regulatory issues,transfer pricing,and corporate taxation.
Frederic Michael Scherer is an American economist and expert on industrial organization. Since 2006,he continues as a professor of economics at the JFK School of Government at Harvard University.
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Donald Frank Turner was an American lawyer,economist,and legal scholar known for his expertise in United States antitrust law. He was a professor at Harvard Law School from 1954 to 1979 and served as the Assistant Attorney General in charge of the Antitrust Division of the U.S. Department of Justice from 1965 to 1968.
Ronald Gordon Ehrenberg is an American economist. He has primarily worked in the field of labor economics including the economics of higher education. Currently,he is Irving M. Ives Professor of Industrial and Labor Relations and Economics at Cornell University. He is also the founder-director of the Cornell Higher Education Research Institute (CHERI).
Howard Shelanski is an American attorney,economist,and legal scholar. He is a professor of law at Georgetown University,where he holds the Sheehy Chair in Antitrust Law and Trade Regulation,and a partner in the law firm of Davis,Polk &Wardwell. He served in the Obama administration as administrator of the Office of Information and Regulatory Affairs (OIRA),part of the Office of Management and Budget.
Raising rivals' costs is a concept or theory in United States antitrust law describing a tactic or device to gain market share or exclude competitors. The origin of the concept has been attributed to Professors Aaron Director and Edward H. Levi of the University of Chicago Law School,who wrote briefly in 1956 that a firm with monopoly power can decide to impose additional costs on others in an industry for exclusionary purposes. They stated that such a tactic "might be valuable if the effect of it would be to impose greater costs on possible competitors."
Fiona M. Scott Morton is an American economist who serves as the Theodore Nierenberg Professor at Yale School of Management. Her research in industrial organization has covered industries including magazines,shipping,pharmaceuticals,and internet retail. She served as associate dean of the Yale School of Management from 2007 to 2010.
Richard J. Gilbert is an American Economist,professor at UC Berkeley from 1976 to 2000,and founder of LECG Corp.. Richard ('Rich') Gilbert served as Deputy Assistant General in the Antitrust Division of the U.S. Department of Justice in the White House from 1993 to 1995,and author of Innovation Matters:Competition Policy for the Knowledge Economy,published by M.I.T. Press. While serving for the United States Justice Department,Richard Gilbert led the development of Joint Department of Justice and Federal Trade Commission Antitrust Guidelines for the Licensing of Intellectual Property. Currently Distinguished Professor Emeritus of Economics at the University of California at Berkeley,Richard Gilbert was president of the Industrial Organization Society at University of California,Berkeley during his tenure and from 2002 to 2005 the Chair of the Economics department there. Professor Gilbert has taken special interest in Innovation,Organizational behavior,and Energy economics. Richard J. Gilbert now works as Emeritus from the University,as a consultant for Compass Lexecon and was on the Board of the East Bay College Fund Oakland Promise Association.
Bernard E. Anderson is the Whitney M. Young,Jr. Professor Emeritus at the Wharton School of the University of Pennsylvania,where he was the first African American tenured professor,and the first to be awarded an endowed chair,the Whitney M Young,jr chair. He was Assistant Secretary of Labor during the Clinton Administration,and is a member of the Board of Trustees of Tuskegee University. He was awarded the Samuel Z. Westerfield Award by the National Economic Association in 2003. He was also awarded the 2016 Living Legacy Award from the Philadelphia-based Urban Affairs Coalition. and the 2022 Labor and Employment Relations Association Distinguished Lifetime Achievement Award.
The New Brandeis or neo-Brandeis movement is an antitrust academic and political movement in the United States which argues that excessively centralized private power is dangerous for economical,political and social reasons. Initially called hipster antitrust by its detractors,as also referred to as the "Columbia school" or "Neo-Progressive antitrust," the movement advocates that United States antitrust law return to a broader concern with private power and its negative effects on market competition,income inequality,consumer rights,unemployment,and wage growth.
Steven C. Salop at Google Scholar