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Complexity, diversity, and antitrust.
I. LIFE AND DEATH
This article discusses some ways in which complexity affects antitrust. It is broadly based on my lunchtime talk at the American Antitrust Institute's June 2005 Roundtable on that subject. My choice of topic was inspired by a competition issue of personal importance to me: innovation in food allergy medicine. Since I'm told my nut allergy could well be deadly, this is a life-or-death issue. (1)
The Wall Street Journal reports that a biotech company named Tanox had a promising experimental peanut allergy treatment, TNX-901, in trials five years ago, but Novartis and Genentech, Tanox's "corporate partners," insisted on its withdrawal. ...
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