William Oehmig Associate Professor of Management
Owen Graduate School of
Management Phone: (615) 322-9057
Vanderbilt University Fax:
401 21st Avenue South
1993- Asst.(1993)/Assoc.(1998)/chaired(2000)
Professor of Management, Vanderbilt
University. Teach managerial
economics (wrote textbook)
to both MBA’s and executive MBA’s, and assorted topics in non-degree
programs. Co-teach undergrad math class
Mathematical Models in Economics (link), with Steven
Tschantz.
2003-5 Director, Bureau of
1986-92 Economist, Antitrust Division,
1989 Kramer Foundation Fellow, University of Chicago Law School
1984-5 Asst.
Professor, Department of Economics,
Critiques of Empirical Market Delineation
Critiques of Structure-Performance Studies
Froeb, Luke M., Mikhael Shor,
Steven Tschantz, Mergers in Auctions with an Incumbent Advantage(September
2, 2008). Vanderbilt Law and Economics
Research Paper No. 08-24. Available
at SSRN: http://ssrn.com/abstract=1262519
Kalnins, Arturs, Luke Froeb, and Steven Tschantz,
Mergers among Firms that Manage Revenue, working
paper (2008).
Tenn, Steven,
Werden, Gregory,
Froeb, Luke and Steven Tschantz, How Much
Information is Required to Accurately Predict Merger Effects?,
Owen Working paper (6/01).
Gandhi, Amit,
Froeb, Luke and Steven Tschantz, and Gregory Werden, Pass-Through Rates and the Price Effects of Mergers, International Journal of Industrial Organization, 23 (2005) 703-715. Available at SSRN: http://ssrn.com/abstract=274848
Werden, Gregory J., Luke M. Froeb and Steven
Tschantz, The Effects of Merger Efficiencies on
Consumers, European Competition Journal,
1:2 (October, 2005) 245-264. Available
at SSRN: http://ssrn.com/abstract=939056
Froeb, Luke, Steven Tschantz & Philip Crooke,
Bertrand Competition with Capacity Constraints: Mergers Among
Parking Lots, Journal of Econometrics 113(1) (March, 2003) 49-67.
Froeb, Luke, and Gregory Werden,
An Introduction to the Symposium on the Use of Simulation in Applied Industrial
Organization, International Journal of the Economics of Business, 7(2)
(July, 2000) 133-137.
Crooke, Philip, Luke Froeb, Steven Tschantz, and
Gregory Werden The Effects of Assumed Demand Form on Simulated Post-Merger Equilibria, Review of Industrial Organization,
15(3), (November, 1999) pp. 205-217.
Werden, Gregory, and Luke Froeb, The Entry-Inducing Effects of Horizontal Mergers, Journal
of Industrial Economics, 46:4 (1998) pp. 525-543.
Froeb, Luke and Gregory Werden, A
Werden, Gregory,
Werden, Gregory and Luke Froeb, The Effects of Mergers in Differentiated Products Industries: Logit Demand and Merger Policy, Journal of Law, Economics, & Organization, 10 (1994) pp. 407-426, reprinted in Antitrust and Competition Policy (Andrew N. Kleit ed., 2005)
Froeb, Luke, Timothy Tardiff,
and Gregory Werden, The Demsetz Postulate and the
Effects of Mergers in Differentiated Products Industries, Economic Inputs,
Legal Outputs: The Role of Economists in Modern Antitrust, London: John
Wiley & Sons, edited by Fred McChesney, 1998.
Werden, Gregory, and
Froeb, Luke, Evaluating Mergers in Durable Goods
Industries, Antitrust Bulletin, 34 (Spring,
1989) 99-119.
Cooper, James,
Abrantes-Metz, Rosa,
Froeb, Luke,
Froeb, Luke, Steven Tschantz, and Gregory Werden, Vertical Restraints and the Effects of Upstream Horizontal Mergers, The Political Economy of Antitrust, Vivek Ghosal and Johann Stennek (Eds.), Amsterdam: North-Holland Publishing, (2007) p. 369. Available at SSRN: http://ssrn.com/abstract=917897
Cooper, James, Luke Froeb, Daniel O'Brien, and Michael Vita, Vertical Antitrust Policy as a Problem of Inference, International Journal of Industrial Organization, 23 (2005) 639– 664. Available at SSRN: http://ssrn.com/abstract=699601
§ Comment by John Comanor, Frederick Scherer, and Robert Steiner
§ Reply
§ Response by John Comanor, Frederick Scherer, and Robert Steiner
Cooper, James,
Cooper, James,
§ Comment by Frederick Scherer (2005)
§ Comment by Ralph Winter (2005)
§ Reply by authors (2006)
§
Rejoinder by Ralph Winter (2006)
Froeb, Luke, Mikhael
Shor, & Steven Tschantz, Mergers in Auctions with an Incumbent Advantage:
Owen Working paper (2008). Available at SSRN: http://ssrn.com/abstract=1262519
Froeb, Luke, and Steven Tschantz, Mergers Among Bidders with Correlated Values in Economic Issues in Measuring Market Power--Contributions to Economic Analysis, Vol. 255, edited by Daniel J. Slottje, Amsterdam: North-Holland Publishing, 2002, pp. 31-46.
Brannman, Lance, and
Tschantz, Steven, Philip Crooke, and Luke
Froeb, Mergers in Sealed vs. Oral Auctions, International Journal of the
Economics of Business, 7(2) (July, 2000) 201-213.
Froeb, Luke, Steven Tschantz & Philip Crooke,
Second-price Auctions with Power-related Distributions: Owen Working paper
(2001). Available at SSRN: http://ssrn.com/abstract=261064
Froeb, Luke M.,
Tschantz, Steven T. and Crooke, Philip, "Mergers Among
Asymmetric Bidders: A Logit Second-Price Auction
Model" (February 27, 1998). Available at SSRN: http://ssrn.com/abstract=69415
Froeb, Luke, and Bruce Kobayashi, Evidence production in Adversarial vs. Inquisitorial Regimes, Economics Letters 70(2), (2001) pp. 267-272. Available at SSRN: http://ssrn.com/abstract=179182
Froeb, Luke, and Bruce Kobayashi, Naive, Biased,
yet Bayesian: Can Juries interpret Selectively-Produced Evidence, Journal of
Law, Economics, & Organization, vol. 12, no. 1 (1996) 257-276;
reprinted in Economics of Evidence, Procedure and Litigation (edited by Chris W. Sanchirico, Edward Elgar, forthcoming).
Froeb, Luke, The Adverse
Selection of Cases for Trial, International Review of Law and Economics,
13(3), (June, 1993) 317-324
Werden, Gregory J., Luke M. Froeb, and James Langenfeld, Lost Profits from Patent Infringement:
The Simulation Approach, International Journal of the Economics of Business,
7(2) (July, 2000) 213-227.
Werden, Gregory J., Luke M. Froeb, and Lucian
Wayne Beavers, Economic Analysis of Lost Profits from Patent Infringement With and Without Noninfringing Substitutes, American
Intellectual Property Law Association Quarterly Journal, 27 (1999) pp.
305-333. Available at SSRN: http://ssrn.com/abstract=205669
Werden, Gregory J., Lucian Wayne Beavers, and Luke
M. Froeb, Quantity Accretion--The Mirror Image of Price Erosion from Patent
Infringement, Journal of the Patent and Trademark Office Society, 81
(1999) pp. 479-482.
Froeb, Luke, An Innovation Variance Ratio Test,
Owen working Paper (1996)
Cooil, Bruce, and
Froeb, Luke, &
Werden, Gregory, and
Froeb, Luke and Gregory Werden, The
Reverse Cellophane Fallacy in Market Delineation, Review of Industrial
Organization, 7 (1992) 241-247.
Froeb, Luke and Gregory Werden, Residual Demand
Estimation for Market Delineation: Complications and Limitations, Review of
Industrial Organization, 6 (1991) 33-48, reprinted in the Journal of
Reprints for Antitrust Law and Economics, 28(1) (1998) p. 357.
Evans, William, Luke Froeb, and Gregory Werden,
Endogeneity in the Concentration-Price Relationship: Causes, Consequences, and
Cures, Journal of Industrial Economics, 41 (September, 1993) 1-8.
Amel, Dean, and Luke Froeb, Do Firms Differ Much?, Journal of Industrial Economics, 39 (March, 1991)
23-31.
Froeb, Luke, and
Froeb, Luke, Pingping Shan, Reconciling the Conflicting Views of the DOJ
Report on Single-Firm Conduct, Global Competition Policy, (Oct., 2008). Available at http://www.globalcompetitionpolicy.org/index.php?&id=1412&oyxvzfvs=oyxvzfvs&action=907
Froeb, Luke, Paul
Pautler, and Lars-Hendrik Roeller, The Economics of Organizing Economists, (July, 2008). Available at SSRN: http://ssrn.com/abstract=1155237
Rosa Abrantes-Metz
and Luke Froeb, The Agencies are Screening for Collusion: What
are they Likely to Find? ABA Newsletter (Spring,
2008). (link)
Werden, Gregory and
Werden, Gregory J., and Luke M. Froeb,
Unilateral Competitive Effects of Horizontal Mergers, in Handbook of
Antitrust Economics, Paolo Buccirossi (ed.),
(Boston: MIT Press), 2007, pp. 43-104. Available at SSRN: http://ssrn.com/abstract=927913
Auctions, Evidence, and Antitrust,
in Econometrics: Legal Practical and Technical Issues, John Harkrider (ed.),
Merger Simulation, in Econometrics: Legal, Practical, and Technical
Issues, John D. Harkrider (ed.),
Werden, Gregory, and
Froeb, Luke, and
Froeb, Luke, If Merger is
the Answer, What is the Question? M&A
Journal. (March, 2006), reprinted in Owen Manager (2006) and in Proceedings of the I Lisbon
Conference on Competition Law and Economics (Kluwer Law
International, forthcoming).
Froeb, Luke,
Froeb, Luke, Daniel Hosken,
Janis Pappalardo, Economics Research at the FTC:
Information, Retrospectives, and Retailing, Review of Industrial
Organization, 25:4 (Dec., 2004) 353-374. Available at SSRN: http://ssrn.com/abstract=592101
Werden, Gregory J., Luke M. Froeb, and David T.
Scheffman, A Daubert
Discipline for Merger Simulation, Antitrust, 18:3 (Summer, 2004) pp.
89-95.
Werden, Gregory J., Luke M. Froeb and David T.
Scheffman, Whither Merger Simulation?, Antitrust
Source, (May, 2004).
Werden, Gregory, and
Werden, Gregory, and
Froeb, Luke, Bid Rigging Against the Government, Owen
Manager, (Spring, 1994).
Froeb, Luke, and Brian McCann, Managerial Economics: A Problem-solving
Approach, (New York, Southwestern, 2007).
Froeb, Luke, Review of “Economy of Grace” Journal
of Lutheran Ethics, vol. 29, July, 2006. (link)
Froeb, Luke, Book Review of Modern
Competitive Analysis by Sharon Oster, Managerial
and Decision Economics, 21:5 (July-Aug., 2000) pp. 209-210.
Crooke, Philip,
Crooke, Philip,
Froeb, Luke, Book Review of Business
Economics by Maria Moschandreas, Managerial
and Decision Economics, 16:1 (Jan-Feb, 1995) pp. 93-94.
Froeb, Luke,
Crooke, Philip,
Crooke, Philip,
Crooke, Philip,
Crooke, Philip,
Froeb, Luke, Log Spectral
Analysis: Variance Components in Asset Prices, in Computational Economics
and Finance: Modeling and Analysis with Mathematica,
edited by Hal Varian (TELOS, Springer-Verlag) 1996. [WS
5]
Froeb, Luke, and Gregory Werden,
Simulating Mergers among Noncooperative Oligopolists, in Computational Economics and Finance:
Modeling and Analysis with Mathematica, edited by
Hal Varian (TELOS, Springer-Verlag) 1996. [GS 20, WS
3, LN 3, WL 4]
Froeb, Luke, Click&Learn Regression, interactive software that
teaches regression analysis to lay persons (1993)
May, 2009 Antitrust
as a Solution to Patent-Holdup,
Seminars at FTC and DOJ, Washington, DC.
Apr, 2009 Mergers
in Auctions with an Incumbent Advantage, IIOC annual meetings, Boston MA.
March, 2009 The
Competitive Effects of the Ticketmaster-Live Nation Merger, testimony
before Congress.
Sept, 2008 The past, present, and future of hospitals deals and
antitrust, Heath care deal-making
summit, Nashville, TN.
July, 2008 How
to Measure the Welfare Effects of the FTC’s Competition and Consumer Protection
Efforts roundtable at hearings on
FTC at 100, Washington DC.
May, 2008 Mergers
among firms that manage revenue,
IIOC Conference, Arlington, VA
Feb, 2008 Horizontal
Mergers among IP Licensors and IP Licensees, George Mason University Conference
on High Tech Mergers.
Feb, 2008 The limits of structural modeling, plenary talk, George
Mason University Conference on High Tech Mergers.
Apr, 2008 25th
Anniversary of AT&T Break-up, Panel Moderator, University of Pennsylvania
Law School.
Oct, 2007 Mergers among firms
that compete by choosing both price and promotion,
Competition Conference to celebrate inauguration
of China’s new antitrust law, Peking University, China.
June, 2007 Mergers among firms
that compete by choosing both price and promotion,
Industrial Organization Conference, Shanghai
China.
July, 2007 eCCP
Roundtable: US Supreme Court Decisions:
A Retrospective,
Washington, DC.
June, 2007 Antitrust Debate with
Marc Ivaldi,
Italian Competition Authority, Rome Italy.
June, 2007 Mergers among firms
that compete by choosing both price and promotion,
Asian Industrial Organization Conference, Shanghai
China.
Apr., 2007 Mergers among firms
that compete by choosing both price and promotion,
IIOC Annual Meeting, Savannah, Georgia
Apr., 2007 Mergers among firms
that compete by choosing both price and promotion,
Washington University
Mar., 2007 Challenges to Dominant
Firm Exclusionary Conduct,
2007 Antitrust Conference, The
Conference Board, New York
Mar., 2007 Mergers among firms
that compete by choosing both price and promotion,
Cornell University
Mar., 2007 Mergers among firms
that compete by choosing both price and promotion,
Vanderbilt University
Jan., 2007 Media Ownership,
NewsChannel5’s Openline,
Nashville
Dec., 2006 Media Mergers, FCC
Hearings on Media Mergers
Sept., 2006 What do we know about single-firm
conduct? (slides)
Joint FTC-DOJ
hearings on “Single Firm Conduct”
June, 2006 The Economics of Mergers (slides) and Monopolization (slides)
Office of Fair
Trading,
June, 2006 Managing Vertical Relationships, Fordham Competition Law
Institute,
May, 2006 Health Care Competition: Emerging Antitrust Issues (slides)
AHIP &
AHLA Conference,
April, 2006 Post-Merger Product Repositioning (slides)
March, 2006 Merger Analysis, The Use of Economics in
Competition Law,
BIICL Confernce,
March, 2006 Article 82 and Section 2 (slides)
Freshfields,
Bruckhaus & Deringer seminar,
Dec, 2005
Dec, 2005 A Positive Antitrust Enforcement Agenda (slides)
CEPR
Conference,
Nov, 2005 If Merger is the Answer, What is the Question? (slides)
The First
Oct., 2005 If Merger is the Answer, What is the Question? (slides)
CFO
conference,
Aug, 2005 Health Care Competition: Can we make it work? (slides)
Health care
MBA Advisory Board, Vanderbilt,
Aug, 2005 Health Care Competition: Can we make it work? (slides)
Breakfast
Roundtable Discussion, Vanderbilt,
June, 2005 International Regulatory Risk (slides)
Pioneer
Investments,
June, 2005 Antitrust and Intellectual Property (slides)
June, 2005 Regulatory Risk (slides)
Legg-Mason
Conference,
June, 2005 Merger Analysis (slides)
Bates-White
Conference,
May, 2005 Vertical Restraints, What Next? (slides)
LECG Panel,
May, 2005 Vertical Restraints (slides)
AEI/Brookings
Joint Center Antitrust Program
May, 2005 Vertical Restraints (slides)
April, 2005 Post Merger Product Repositioning (slides)
International
Industrial Organization Conference
April, 2005 Breakfast with the Bureau Directors (slides)
April, 2005 Did the FTC Approve Too Many Oil Mergers? (slides)
March, 2005 Consumer Protection Economics (slides)
March, 2005 International Antitrust (slides)
Vanderbilt
Development Economics graduate students
Feb, 2005 Critical Enforcement Issues
Roundtable
Discussion at
Jan, 2005 Use of Economics in Competition Law (slides)
Keynote
speech, IBC Conference,
Dec, 2004 Competition Advocacy and Industry-Wide Antitrust at the FTC
(slides)
Office of Fair
Trading and Competition Commission,
Dec, 2004 Effects-Based Analysis:
Mergers and Vertical Restraints (slides)
British
Dec, 2004 Antitrust Enforcement
R&D: Mergers and Vertical Restraints
(slides)
Dec, 2004 Vertical
Restraints: What about the Evidence? (slides)
American Bar
Association, Fall Forum,
Nov, 2004 Demand-Pull Research
for Antitrust Policy (slides)
Nov, 2004 Post-Merger Product
Repositioning (slides)
Oct, 2004 Quantitative Methods
in Merger Control (slides)
Oct, 2004 Vertical
Restraints: What about the Evidence? (slides)
Sep, 2004 Enforcement R&D (slides)
EC/US Bilateral Consultations,
Sep, 2004 Economics and
Antitrust: Enforcement R&D (slides)
Keynote Address at Annual Meeting of the European Association in Industrial
Economics (EARIE), Brandenberg
Jun, 2004 Post-Merger Product
Repositioning (slides)
University de
Toulouse, IDEI,
Jun, 2004 Use of Economic
Evidence in Competition Cases (slides)
OECD
Roundtable,
Apr, 2004 Variance and Smoothness Screens for Collusion (slides)
International
Industrial Organization Conference,
Apr, 2004 Merger Effects, Promotion and Price (slides)
Apr, 2004 Breakfast with the FTC Bureau Directors (slides)
American Bar
Association Spring Meeting,
Mar, 2004 Economic Analysis of Mergers:
Recent Developments (slides)
American Bar
Association Spring Meeting,
Mar, 2004 Economics in Antitrust: A
U.S. Perspective (slides)
The Office of
Fair Trading,
Mar, 2004 The View from
Mar, 2004 Economics in Antitrust: A
European
Commission,
Mar, 2004 Economists, Damages, and Daubert Pitfalls
Utah State Bar
and Law and Economics Society,
Mar, 2004 Unilateral Effects and Economic Models
2004 Antitrust
Conference: The Conference Board, NY.
Feb, 2004 Unilateral Effects and Economic Models
Charles River
Associates Annual Meeting,
Jan, 2004 Merger Effects When Firms Compete by Choosing Both Price and
Advertising,
FTC Bureau of
Economics Seminar
Jan, 2004 Whither Merger
Simulation
Dec, 2003 Using Structural
Models to Simulate IP Damages
Nov, 2003 Mergers among Firms that
Practice Yield Management
INFORMS Annual
Meeting,
Nov, 2003 Price Discrimination
and Competition: Implications for
Antitrust
American Bar
Association Fall Forum,
Nov, 2003 Role of Expert
Economic Testimony in Antitrust Litigation
Committee on Antitrust and Trade Regulation of the Bar of the City of NY
Aug, 2003 Continuity in Economics at the FTC
May, 2003 Merger Simulation and Market Delineation
Two-day
training seminar at the Canadian Competition Bureau,
April, 2003 Merger Simulation and Market Delineation
Two-day
training seminar at the Office of Fair Trading,
May, 2002 Quantitative Cost-Benefit analysis of Mergers
Three-day
training seminar Swedish Competition Authority,
April, 2002
Vertical Restraints and Upstream
Horizontal Mergers: Does the retail
sector matter?
2009
Written Testimony of Luke Froeb before the House Subcommittee on Courts and Competition Policy on the Ticketmaster/Live Nation Proposed Merger.
2006
Brief of Amici Curiae Economists in Support of
Petitioner, et al., Leegin. v. PSKS, 75
U.S.L.W. 3207 (
2006 Quadrennial Regulatory
Review—Review of the Commission’s Broadcast Ownership Rules and Other Rules
Adopted Pursuant to Section 202 of the Telecommunications Act of 1996, MB
Docket No. 06-121, Joint Declaration of
Brief of Amici Curiae Economists in Support of Petitioner, et al., Bell Atl.
Corp. v. Twombly, 74 U.S.L.W. 3517 (
Brief of Amici Curiae Economists in Support of Petitioner, Bell Atl. Corp. v. Twombly, 74 U.S.L.W. 3517 (U.S. Apr. 6, 2006) (No. 05-1126) (brief in support of certiorari).
2005
·
Contact Lenses
FTC Staff Comment to the Honorable Doug
Matayo Concerning Arkansas H.B. 2286 and the Fairness
to Contact Lens Consumers Act and Contact Lens Rule (Oct. 2004) (V040026)
·
Housing, Real Estate
FTC Staff and Department of Justice
Antitrust Division Comment to the Honorable Paul Kujawski
Concerning Proposed Massachusetts H.B. 180 to Authorize Non-Attorneys to
Perform Certain Real Estate Settlement Services (Oct. 2004) (V040025)
·
Health Care, Pharmacy Benefit Managers
FTC Comment to the Honorable Greg Aghazarian Concerning California A.B. 1960 Requiring
Pharmacy Benefit Managers to Make Specified Disclosures to “Purchasers” and
“Prospective Purchasers” Regarding Revenues and Drug Formularies (Sep.
2004) (V040027)
·
Labeling, Food
FTC Staff Comment Before the Food and
Drug Administration Concerning Nutrient Claims (Jul. 2004) (V040020)
·
Gasoline
FTC Staff Comment to the Honorable Gene
DeRossett Concerning Michigan H.B. 4757, the “Petroleum
Marketing Stabilization Act”(Jun. 2004) (V040019)
·
Labeling, Pharmaceuticals, Medical Devices
FTC Staff Comment Before the Food and
Drug Administration Concerning Consumer-Directed Promotion (May
2004) (V040016)
·
Labeling, Food
FTC Staff Comment Before the Food and
Drug Administration Concerning Food Labeling: Trans Fatty Acids in Nutrition
Labeling (Apr. 2004) (V030017)
·
Health Care, Pharmaceuticals
FTC Staff Comment to the Honorable
Patrick C. Lynch and Honorably Juan M. Pichardo
Concerning the Competitive Effects of Rhode Island General Assembly Bills
Containing Pharmaceutical “Freedom of Choice” and “Any Willing Provider”
Provisions (Apr. 2004) (V040013)
·
Funeral Homes
FTC Staff Comment to the Honorable
Joanne C. Benson Concerning Maryland H.B. 795 Regarding Corporate Ownership of
Funeral Homes (Apr. 2004) (V040011)
·
Internet Commerce, Contact Lenses
Possible Anticompetitive Barriers to E-Commerce: Contact Lenses: A Report
from the Staff of the Federal Trade Commission (Mar. 2004) (V040007)
·
Internet Commerce, Alcohol
FTC Staff Comment to the Honorable
William Magee et al. Concerning New York A.B. 9560-A; S.B. 606-A; and S.B. 1192
to Allow Out-of State Vendors to Ship Wine Directly to New York Consumers (Mar.
2004) (V040012)
·
Gasoline
FTC Staff Comment to the Honorable Les
Donovan Concerning Kansas H.R. 2330 Prohibiting a “Marketer” or “Retailer” From
Selling Motor Fuel Below Cost (Mar. 2004) (V040009)
·
Gasoline
FTC Staff Comment to the Honorable
Demetrius C. Newton Concerning the Alabama Fuels Marketing Act (Jan.
2004) (V040005)
·
Labeling, Food
FTC Staff Comment Before the Food and
Drug Administration Concerning Labeling: Health Claims; Dietary Guidance (Jan.
2004) (V040006)
·
Commodity Future Exchanges
FTC Comment Before the Commodity
Futures Trading Commission Regarding the Application of U.S. Futures Exchange,
LLC for Contract Market Designation (Jan. 2004) (V040004)