Does Antitrust Enforcement In High Tech Markets Benefit Consumers? Stock Price Evidence From FTC V. Intel
Antitrust enforcement efforts in the United States and abroad have been ramped up in high-tech industries, rekindling stale and largely unresolved debates concerning the appropriate role of antitrust enforcement in high-tech markets. Like the previous enforcement actions against Microsoft, and likely enforcement efforts in the future against similarly situated business firms, recent enforcement efforts challenging Intel's business practices raise the same fundamental issues concerning the effectiveness of competition policy in dynamically competitive industries. While opinions and broad-sweeping assertions as to the appropriate role of antitrust in these markets are common, traditional empirical approaches have left fundamental issues unresolved.