Law & Economics Workshop series
presents
Professor Daniel Crane
Michigan University Law School
Optimizing Private Antitrust Enforcement
Tuesday, November 17, 2009
4:10 – 6:00
Solarium (room FA2) – Falconer Hall
84 Queen’s Park
Private litigation is the predominant means of antitrust enforcement in the United States and private models of litigation are increasingly being implemented around the world. Private enforcement is usually justified on compensation or deterrence grounds. While the choice between these two goals matters, private litigation is not very effective at advancing either one. Compensation fails because the true economic victims of most antitrust violations are usually downstream consumers who are too numerous and remote to locate and compensate. Deterrence is ineffective because the time lag between the planning of the violation and legal judgment day is usually so long that the corporate managers responsible for the planning have left their corporate employer before the employer internalizes the cost of the violation. Private litigation needs to be entirely reconceptualized and redirected toward a forward-looking, problem-solving approach to market power issues.
Professor Daniel Crane, who teaches contracts, antitrust, and antitrust and intellectual property, comes to the University of Michigan Law School from Yeshiva University's Benjamin N. Cardozo School of Law. Recently, he was a visiting professor at New York University Law School and the University of Chicago Law School, and in the spring of 2009, he taught antitrust law on a Fulbright Scholarship at the Universidade Católica Portuguesa in Lisbon, Portugal. His recent scholarship has focused primarily on antitrust and economic regulation, particularly the institutional structure of antitrust enforcement, predatory pricing, bundling, and the antitrust implications of various patent practices. Prof. Crane's work has appeared in the University of Chicago Law Review, the California Law Review, the Michigan Law Review, and the Cornell Law Review, among other journals. He is the co-editor, with Eleanor Fox of the Antitrust Stories volume of Foundation Press’s Law Stories series, and has a book on the institutional structure of antitrust enforcement forthcoming from Oxford University Press. An editor of the Antitrust Law Journal since 2005 and a member of the American Antitrust Institute’s Advisory Board, Prof. Crane also serves as counsel in the litigation department of Paul, Weiss, Rifkind, Wharton & Garrison of New York. He received his J.D. with honors from the University of Chicago law School in 1996, after which he clerked for U.S. District Court Judge Kenneth L. Ryskamp.
For more workshop information, please contact Nadia Gulezko at n.gulezko@utoronto.ca.
