Dennis Carlton
Professor of Business Economics

Published Papers

  1. Eugene Fama and Industrial Organization. The Fama Portfolio, edited by John Cochrance and Tobias Moskowitz, Univeristy of Chicago Press, (forthcoming).
  2. "Antitrust and Regulation", (with R. Picker) in N. Rose ed., Economics of Deregulation, NBER, (forthcoming).
  3. "Proper Treatment of Buyer Power in Merger Review", (with M. Israel), Review of Industrial Organization, (forthcoming).
  4. "Upgrades, Switching Costs, and the Leverage Theory of Tying", (with Michael Waldman), Economic Journal, (forthcoming).
  5. "Rethinking antitrust in the presence of transaction costs: Coasion Implications," (with B. Keating). Journal of Law and Economics, (2015)
  6. "Buyer Power in Merger Review." (with Coleman and M. Isreal), Oxford Handbook of International Antitrust Economics, eds, R. Blair, eds. R. Blair and D. Sokol (2005).
  7. "Roberts Bork's Contribitoions to Antitrust Perspective on Tying Behavior," (with M. Waldman), Journal of Law & Economics, eds R. Blaird and D. Sokol (2015).
  8. "Antitrust, Tansaction Costs and Merger Simulation with Non-linear Pricing," (with B. Keating), Jounral of Law and Economics, (2015).
  9. Competition Policy and Regulation in Credit Card Markets: Insights from Single-sided Market Analysis," (with R. Winter), Competition Policy International. (2014).
  10. "The Economics of Patent Ambush", Concurrences, New Frontiers of Antitrust, (2011).
  11. "Revising the Horizontal Merger Guidelines", Journal of Competition Law & Economics (2010), also appears in Journal of Competition Law -- CADE (Brazil) Vol. 1, No. 23 (2011).
  12. "How Should Economic Evidence Be Presented and Evaluated", in European Competition Law Annual: 2009, The Evaluation of Evidence and its Judicial Review in Competitation Cases, edited by Claus-Dieter Ehlermann and Mel Marquis, Hart publishing (2011).
  13. "Will The New Guidelines Clarify or Obscure Antitrust Policy?", (with M. Israel), The Antitrust Source, (2010).
  14. "Introduction to Stigler's Theory of Oligopoly", (with S. Peltzman), Competition Policy International, (2010).
  15. "Response to Gopal Das Varma's Market Definition", Upward Pricing Pressure, and the Role of Courts: A Response to Carlton and Israel" (with M. Israel), The Antitrust Source, (2010).
  16. "Use and Misuse of Empirical Methods in the Economics of Antitrust", 3(1) Competition Policy International Antitrust Chronicle, (2011).
  17. "Net Neutrality and Consumer Welfare," (with G. Becker and H. Sider), Journal of Competition Law & Economics, (2010).
  18. "Externatlities in Payments Card Networks: Theory and Evidence: A Commentary," The Changing Retail Payments Landscape: What Role for Central Banks?, Federal Reserve Bank of Kansas City (2010).
  19. "Why Tie a Product Consumers Do Not Use?," (with J. Gans and M. Waldman), Recipient of Inaugural Robert F. Lanzilotti Prize, awarded by the International Industrial Organization Society for Best Paper in Antitrust Economices, (2008), American Economic Journal: Microeconomics (2010).
  20. "Mergers in Regulated Industries: Electricity," in Competition Law and Economics: Advances in Competition Policy Enforcement in the EU and North America, A. Mateus and T. Moreira editors, (2010).
  21. "Financial Issues" (Comments on Bankruptcy and Clearing Houses), Chapter X in Competition as Public Policy, American Bar Association, (2010).
  22. "Competition, Monopoly, and Aftermarkets," (with M. Waldman), Journal of Law, Economics & Organizations, 1-38, Oxford University Press, (April 2009)
  23. "Competition Policy: Beware of Using It to Harm Competition," Fair Trade, Japan, (Spring, 2009).
  24. "Should Competition Policy Prohibit Price Discriminations?" (with M. Israel), Global Competition Review, (2009).
  25. "Merger Guidelines Revisited?" an interview, Antitrust, American Bar Association, (Fall 2009).
  26. "Proposal for a Market-Based Solution to Airport Delays," (with W. Whalen, K. Heyer and O. Richard), Regulation (2008).
  27. "Should "Price Squeeze" be a Recognized Form of Anticompetitive Conduct?," Journal of Competition Law and Economics, 00 (00), 1-8 (April 2008)
  28. "Merger Analysis," Palgrave Dictionary, (with J. M. Perloff), (2008).
  29. "Antitrust and Regulation", (with R. Picker) in N. Rose ed., Economics of Deregulation, NBER, (forthcoming). "Theories of Tying and Implications For Antitrust", (with M. Waldman), in W. Collins ed. Issues in Competition Law and Policy, American Bar Association, (forthcoming).
  30. "Seperate Statemen of Dennis W. Carlton, In The Report of the Antitrust Modernization Commission. (2007.)
  31. "Market Definition: Use and Abuse", Competition Policy International (Spring 2007).
  32. ""Barriers to Entry", in W. Collins ed. Issues in Competition Law and Policy, American Bar Association, (forthcoming)..
  33. "Does Antitrust Need to be Modernized?", Journal of Economic Perspectives (forthcoming) "Market Definition: Use and Abuse," Competition Policy International (Spring 2007).
  34. "Interview with Deputy Assistant Attorney General ", The Antitrust Source (February 2007).
  35. "The Year in Review: Economics: at the Antitrust Division 2006-2007" (with K. Heyer), Review of Industiral Organization, (2007)
  36. "Product Variety and Demand Uncertainty: Why Mark-ups Vary with Quality," (with James D. Dana Jr.), Journal of Industrial Economics (forthcoming) Separate Statement of Dennis W. Carlton, in The Report of the Antitrust Modernization Commission, (April 2007).
  37. "Predation and the Entry and Exit of Low-Fare Carriers," (with G. Bamberger), in Advances in Airline Economics: Competition Policy and Antitrust, Darin Lee, ed., (2006).
  38. "Why Tie An Essential Good," (with Michael Waldman), in Hahn R. ed., Antitrust Policy and Vertical Restraints, AEI-Brookings, (July 2006).
  39. "Econometric Analysis of Telephone Mergers," (with H. Sider) pp. 373-395 in American Bar Association, Econometrics: Legal, Practical, and Technical Issues, (2005).
  40. "How Economics Can Improve Antitrust Doctrine Towards Tie-in Sales," (with M. Waldman), Competition Policy International, (Spring 2005).
  41. Preface to: "Law and Economics of the Mexican Competition Laws", by Francisco Gonzalez de Cossio (2005).
  42. "Transaction Costs, Externalities and "Two-Sided" Payment Markets", (with A. Frankel), Columbia Business Law Review, No. 3, Vol. (2005).
  43. "Tying, Upgrades, And Switching Costs In Durable-Goods Markets," (with Michael Waldman), NBER Working Paper 11407, (2005).
  44. "The Control of Externalities in Sports Leagues: An Analysis of Restrictions in the National Hockey League," (with A. Frankel and E. Landes ), Journal of Political Economy, (February 2004).
  45. "An Empirical Investigation of the Competitive Effects of Domestic Airline Alliances," (with G. Bamberger and L. Neumann), Journal of Law and Economics, Vol. 47, No. 1, (April 2004, pp. 195-222).
  46. "Why Barriers to Entry are Barriers to Understanding," American Economic Review, (May 2004).
  47. "Using Economics to Improve Antitrust Policy", Milton Handler Lecture, Columbia Business Law Review, (June 2004).
  48. "The Proper Role for Antitrust in an International Setting", (Keynote address: Second Annual Conference of the International Competition Network (ICN), Merida City, Mexico (June 25, 2003), appears as Appendix to "Using Economics to Improve Antitrust Policy," Columbia Business Law Review (June 2004)
  49. "The Competetive Effect of Fannie Mae", (with D. Gross and R. Stillman) in Housing Matters: Issues in American Housing Policy , Fannie Mae (January 2002, reprinted 2004).
  50. "The Economics of Religion, Jewish Survival and Jewish Attitudes Toward Competition on Torah Education", (with A. Weiss), Journal of Legal Studies (2001). (Reprinted in Essential Readings on Jewish Identities, Lifestyles, and Beliefs, edited by Stanford M. Lyman, Gordian Knot Books, 2003.)
  51. "Contracts that Lessen Competition -- What is Section 27 for, and How Has it Been Used?" (with David Goddard), in Mark N. Berry and Lewis T. Evans eds., Competition Law at the Turn of the Century: A New Zealand Perspective, Victoria University Press (2003).
  52. "Interview, Economists' Roundtable, Antitrust Magazine, Spring 2003.
  53. "The Relevance of Antitrust Policy of Theoretical and Empirical Advances in Industrial Organization", March 2003, George Mason Law Review, (Forthcoming).
  54. "Intellectual Property, Antitrust and Strategic Behavior", (with R. Gertner), in eds. Adam Jaffee and Joshua Lerne, Innovation Policy and the Economy, Volume 3, MIT Press (2003).
  55. "The Competitive Effects of Fannie Mae", (with D. Gross and R. Stillman) Fannie Mae Papers, Volume I, Issue 1, January 2002.
  56. "The Strategic Use of Tying to Preserve and Create Market Power in Evolving Industries", (with M. Waldman), The Rand Journal (Vol. 33, No. 2, Summer 2002).
  57. "Airline Networks and Fares", (with G. Bamberger), Handbook of Airline Economics, McGraw Hill (2002).
  58. "The Economics of Religion, Jewish Survival and Jewish Attitudes Toward Competition on Torah Education", (with A. Weiss), Journal of Legal Studies, (2001).
  59. "A General Analysis of Exclusionary Conduct and Refusal to Deal -- Why Aspen and Kodak are Misguided", Antitrust Law Journal (2001). (Reprinted in e-Commerce Antitrust & Trade Practices, Practising Law Institute, 2001.)
  60. "The Lessons from Microsoft", Business Economics (January 2001).
  61. "Lessons from Halacha About Competition and Teaching" (with A. Weiss), Center for Business Ethics Social Responsibility, (March 2001).
  62. "The Choice of Organizational Form in Gasoline Retailing and The Costs of Laws Limiting that Choice", (with A. Blass), Journal of Law and Economics, (October 2001).
  63. "Should The Merger Guidelines Be Scrapped? Introduction to a Debate", in Symposium On The Antitrust Analysis Of Mergers: Merger Guidelines vs. Five Forces, 33 U. WEST L.A. L. REV. 2001.
  64. "Free Riding and Sales Strategies for the Internet", (with J. Chevalier), The Journal of Industrial Economics, (December 2001).
  65. "Antitrust and Higher Education: MIT Financial Aid (1993)" (September 1997) (with G. Bamberger), The Antitrust Revolution, (Oxford University Press), 3rd edition (1999).
  66. "Market Power and Vertical Restraints in Retailing: An Analysis of FTC v. Toys 'R' Us", (with H. Sider), The Role of the Academic Economist in Litigation Support, edited by Daniel Slottje, North Holland, (1999).
  67. "Critical Assessment of the Role of Imperfect Competition in Macroeconomics", Dennis W. Carlton, in S. Brakman, H. van Ees and S. K. Kuipers: Market Behaviour and Macroeconomic Modelling. New York: St. Martin's Press; London: Macmillan Press, 1998, pp. 73-104.
  68. "Comments on Born and Viscusi", Brookings Papers on Economic Activity: Microeconomics, (1998).
  69. "Price Rigidity", Business Cycles and Depressions, David Glasner ed., Garland Publishing, Inc., (1997).
  70. "Communication Among Competitors: Game Theory and Antitrust", (with R. Gertner and A. Rosenfield), George Mason Law Review, (1997). (Reprinted in e-Commerce Antitrust & Trade Practices, Practising Law Institute, 2001.)
  71. "You Keep on Knocking But You Can't Come In: Evaluating Restrictions on Access to Input Joint Ventures", (with S. Salop), Harvard Journal of Law & Technology, (Volume 9, Summer, 1996). (Reprinted in e-Commerce Antitrust & Trade Practices, Practising Law Institute, 2001.)
  72. "Comments on Causes and Consequences of Airline Fare Wars", Micro Brookings Papers on Economic Activity, (1996).
  73. "The Antitrust Economics of Credit Card Networks", (with A. Frankel) Antitrust Law Journal, (Winter 1995).
  74. "Economic Organization and Conflict", Journal of Institutional and Theoretical Economics, (March 1995).
  75. "Antitrust and Higher Education: Was There a Conspiracy to Restrict Financial Aid?" (with G. Bamberger and R. Epstein) The Rand Journal of Economics, (Vol. 26, No. 1, Spring 1995, pp. 131-147).
  76. "The Competitive Effects of Line-of-business Restrictions in Telecommunications", (with K. Arrow and H. Sider), Managerial and Decision Economics, (Vol. 16, pp. 301-321, 1995). (Reprinted in Deregulating Telecommunications - The Baby Bells Case for Competition, edited by Richard S. Higgins and Paul H. Rubin, John Wiley & Sons Ltd., 1995.)
  77. "The Antitrust Economics of Credit Card Networks: Reply to Evans and Schmalensee", (with A. Frankel), Antitrust Law Journal, (Spring 1995).
  78. "Antitrust and Payment Technologies", (with A. Frankel), Review, Federal Reserve Bank of St. Louis (November/December 1995).
  79. "Antitrust Policy Toward Mergers When Firms Innovate: Should Antitrust Recognize the Doctrine of Innovation Markets?" Testimony before the Federal Trade Commission Hearings on Global and Innovation-based Competition (October, 1995).
  80. "Merger Policy and Market Definition Under the EC Merger Regulation", Conference on Antitrust in a Global Economy, Fordham Corporate Law Institute, (1994).
  81. "The Economics of Cooperation and Competition in Electronic Services Network Industries", in Economics of Electronic Service Networks, Wildman Steven ed., Praeger Press, (1992).
  82. ""The Genesis of Inflation and the Costs of Disinflation", Comment on, Journal of Money, Credit & Banking, (August 1991, Part 2).
  83. ""The Theory of Allocation and its Implications for Marketing and Industrial Structure: Why Rationing is Efficient", Journal of Law and Economics, (October 1991).
  84. "Book Review of Tirole's The Theory of Industrial Organization, Journal of Political Economy, (June 1990).
  85. "The Theory and The Facts of How Markets Clear: Is Industrial Organization Valuable for Understanding Macroeconomics?" in Handbook of Industrial Organization, eds. Schmalensee and Willig (1989).
  86. "Market Power and Mergers in Durable Good Industries," Journal of Law and Economics, (October 1989).
  87. Comments on "Vertical Foreclosure, Brookings Papers on Economic Activity", (December 19, 1989).
  88. "The Limitations of Pigouvian Taxes As A Long Run Remedy for Externalities: Extension of Results," (with G. Loury) Quarterly Journal of Economics (August 1986).
  89. "The Rigidity of Prices," American Economic Review (September 1986).
  90. "Futures Markets: Their Purpose, Their History, Their Growth, Their Successes and Failures," Journal of Futures Markets, (September 1984). (Reprinted in Futures Markets edited by A.G. Malliaris and W.F. Mullady, Edward Elgar Publishing Limited, 1995; and in Classic Futures: Lessons from the Past for the Electronics Age, edited by Lester Telser, Risk Books, 2000.)
  91. "Energy and Location of Industry," Comment regarding Energy Costs, Urban Development, and Housing, Brookings Institution (1984).
  92. "A Reexamination of Delivered Pricing," Journal of Law and Economics (April 1983).
  93. "On the Resignation of Ronald H. Coase," William M. Landes, Dennis W. Carlton and Frank H. Easterbrook; Journal of Law and Economics, 1983, 26( 1), pp. iii-vii.
  94. "Futures Trading, Market Interrelationships, and Industry Structure," American Journal of Agricultural Economics (May 1983).
  95. "The Location and Employment Choices of New Firms: An Econometric Model with Discrete and Continuous Endogenous Variables," The Review of Economics and Statistics (August 1983).
  96. "The Need for Coordination Among Firms With Special Reference to Network Industries," (with J. M. Klamer) University of Chicago Law Review (Spring 1983).
  97. "The Regulation of Insider Trading" (with D. Fischel), Stanford Law Review, (May 1983).
  98. "Economic Goals and Remedies of the AT&T Modified Final Judgment" (with W. Lavey), Georgetown Law Review (August 1983).
  99. "Equilibrium Fluctuations When Price and Delivery Lags Clear the Market," Bell Journal of Economics (Autumn 1983).
  100. "Planning and Market Structure," in The Economics of Information and Uncertainty, edited by J.J. McCall, University of Chicago Press (1982).
  101. "The Disruptive Effect of Inflation on the Organization of Markets," in Robert Hall, ed. The Economics of Inflation, University of Chicago Press (1982).
  102. "Product Quality and Value in the New Home Market: Implications for Consumer Protection Regulation: Comments on Weicher" Dennis W. Carlton; Journal of Law and Economics, 1981, 24(3), pp. 399-400.
  103. "Price Discrimination: Vertical Integration and Divestiture in Natural Resources Markets," (with J. Perloff) Resources and Energy (March 1981).
  104. "The Spatial Effects of a Tax on Housing and Land," Regional Science and Urban Economics (November 1981).
  105. "Comments on Weicher," Journal of Law and Economics (December 1981).
  106. Comment, in Sherwin Rosen ed. Studies in Labor Markets, University of Chicago Press (1981).
  107. "Benefits and Costs of Airline Mergers: A Case Study," (with W. Landes and R. Posner) Bell Journal of Economics, (Spring 1980). (Reprinted in "Air Transport" in Classics In Transport Analysis series, edited by Kenneth Button and Peter Nijkamp, 2001.)
  108. "The Limitations of Pigouvian Taxes as a Long Run Remedy for Externalities," (with G. Loury) Quarterly Journal of Economics (November 1980).
  109. "The Law and Economics of Rights in Valuable Information: A Comment," Journal of Legal Studies (December 1980).
  110. "Why New Firms Locate Where They Do: An Econometric Model," in Studies in Regional Economics, edited by W. Wheaton (Urban Institute, 1980)
  111. "Vertical Integration in Competitive Markets Under Uncertainty," Journal of Industrial Economics (March 1979). Awarded the P.W.S. Memorial Prize for the best essay in the field of Industrial Organization by a scholar under the age of thirty.
  112. "Valuing Market Benefits and Costs in Related Output and Input Markets," American Economic Review (September 1979).
  113. "Contracts, Price Rigidity and Market Equilibrium," Journal of Political Economy (October 1979).
  114. "Vertical Integration--An Overview," in Congressional Record Hearings on the Communications Act of 1978. Bill H.R. 13105 (August 3, 1978).
  115. "The Distribution of Permanent Income," Income Distribution and Economic Inequality, edited by Zvi Griliches, et al. (Halsted Press, 1978).
  116. "Market Behavior with Demand Uncertainty and Price Inflexibility," American Economic Review (September 1978).
  117. "Uncertainty, Production Lags, and Pricing," American Economic Review (February 1977).
  118. "Selecting Subsidy Strategies for Housing Allowance Programs," (with Joseph Ferreira) Journal of Urban Economics (July 1977).
  119. "Peak Load Pricing With Stochastic Demand," American Economic Review, (December 1977). (Reprinted in Economic Regulation edited by P.L. Joskow, Edward Elgar Publishing Limited, 1998.)
  120. "Theories of Vertical Integration," presented at Fourth Annual Telecommunications Conference. Appears in a volume of Proceedings of the Fourth Annual Telecommunications Conference, Office of Telecommunications Policy (April 1976).
  121. "The Equilibrium Analysis of Alternative Housing Allowance Payments," (with Joseph Ferreira) Chapter 6 of Analysis of a Direct Housing Allowance Program, The Joint Center for Urban Studies of M.I.T. and Harvard University (July 1975).