Daniel Hanley
@danielahanley
Senior Legal Analyst at @openmarkets. Opinions are my own.
Sure thing. 1) The theory is laid out in Inderst/Valletti and Inderst/Dobson but I frankly don’t have an opinion on that (nor am I talking about Costco specifically). What I’m saying is based on four years of conversations with at least two major wholesalers that supply…
Two questions: 1) What is your evidence for the claim that when a supplier offers Costco a lower price on a high volume order, that causes the supplier to raise prices on smaller retailers making lower volume orders?
This article does not “utterly destroy” @ZephyrTeachout’s article. @ATabarrok doesn’t know what the controlling law is. FTC v. Morton Salt, 334 U.S. 37 (1948) states that volume discounting *can* violate the law if not cost justified or reasonably obtainable by all purchasers.
In which @ATabarrok utterly destroys the Zephyr Teachout op-ed on grocery prices: marginalrevolution.com/marginalrevolu…
According to a WSJ poll, the Democratic Party’s favorability is at its lowest point since tracking began in 1990—35 years ago. But don’t worry I’m sure the Dems will keep their leaders, hire more consultants, & continue kiss oligarchs and bash Zohran. youtu.be/TTVMsfWO0uY?fe…
We, the public, are allowed to pass laws that reflect our values. There is no "efficiency" veto over democratically enacted laws. As an *economist*, I am qualified to assess outcomes. I am not qualified to determine what the goals of policy should be.
Paxton's outside firms have settled two cases so far, netting Texas $2 billion+. But they have also netted massive paydays for the lawyers — $143m in the Meta case. The fees for a recent settlement w/Google aren't final, but could exceed $350 million. texastribune.org/2025/07/24/ken…
A few months ago I noticed something unusual: Texas Attorney General Ken Paxton is increasingly outsourcing big cases to private lawyers — even though his office has 700+ attorneys in-house, with several specialized divisions. So we dug in...
Linkedin is already pretty crappy. This is going to make it just totally worthless since people will not be able to determine if their messages are from actual people interested in connecting with them.
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I enjoyed listening to @SladeBond's thoughts on the FTC v. Meta trial. I think others will find his comments as insightful as I did. youtube.com/watch?v=jClCh8…
I'm very big on antitrust enforcement. I just don't like Robinson Patman. I don't like Section 2. Section 7 needs to be limited because mergers are efficient. Most of Section 1 needs to be mostly rule of reason. I'm very big on antitrust enforcement. #Satire
so glad we’re getting a sequel
🚨 NEW: President @JoeBiden has reportedly sold his presidential memoir to Hachette for a $10 million advance, per Wall Street Journal. Not bad for a guy they said was “finished.” Congrats, 46.
90 years ago, there was another abundance agenda, envisioned by socialists as a path toward building political power to the left of FDR's "middle road" My latest in @newrepublic on the cast of collectivists agitating for a planned economy to ensure abundance
1) "quality of care likely deteriorates in mergers initiated by large chains" 2) "our results show that [private-equity] chain ownership degrades the quality of care more" 3) small mergers by operators may have good efficiencies if they don't concentrate share within a market
When independent nursing homes are bought by chains, the quality of care improves due to more efficient management. nber.org/papers/w33967
The merger would be facially unlawful, & allowing it would confirm that this admin has no interest in doing even the bare minimum to enforce the law. The STB is endowed with all of the regulatory authority it needs to block this potential acquisition.👇 papers.ssrn.com/sol3/papers.cf…
Robber baron George Jay Gould tried to create a coast-to-coat railroad but he was undone by the 1907 financial panic. Now, Union Pacific and Norfolk Southern want to have another try: nytimes.com/2025/07/24/bus…
Despite the fact that some of the plaintiff's other claims have been reinstated, could this First Circuit decision be the one for the Supreme Court to abolish the ridiculous baseball exemption? I hope so. business.cch.com/ald/cangrejero…
Advocates of a market power requirement want the Sherman Act to subsume the RPA. They ignore that price discrimination is already illegal under Section 1, but Congress enacted the RPA to be a more widespread prohibition with a lower legal threshold.
I'll add two things to the Robinson-Patman Act discourse - Imposing a market power requirement is a way of turning the law into a dead letter - Suppliers can show price discrimination in favor of large buyers is cost justified. If they can't substantiate that, that's on them.
This single fact makes the case for banning most mergers. 👇 "Using comprehensive firm-level microdata from the U.S. Economic Census, we show that M&A account for 44% of the increase in aggregate concentration [between 1982 and 2012]." papers.ssrn.com/sol3/papers.cf…