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Replies

Nicolas Petit @competitionprof.bsky.social · 25/04/2025

In hindsight, criticizing Meta for its acquisition of Instagram/WhatsApp or Google for its integration of Chrome or Android feels right. Now, assuming present evidence shows that they were false negatives, should antitrust revise past decisions? The econ answer: not so fast 2/n

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Nicolas Petit @competitionprof.bsky.social · 25/04/2025

Antitrust law, especially merger policy, is rule-based. Once a transaction is cleared, it’s presumed final. That rule creates credibility and predictability. Using discretion to revise past approvals introduces a classic time inconsistency problem 3/n

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Nicolas Petit @competitionprof.bsky.social · 25/04/2025

A time inconsistent policy has the allure of efficiency. The false negative is reversed. But econ say that time-inconsistent policies also lead to moral hazard 4/n

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