June 01, 2017

Einer Elhauge, Petrie Professor of Law at Harvard Law School and Founding Director of the Petrie-Flom Center for Health Law Policy, Biotechnology and Bioethics, has been selected as the recipient of the 15th Annual Jerry S. Cohen Memorial Fund Writing Award in recognition of his outstanding contribution to antitrust scholarship. The Award will be presented during the gala luncheon at the American Antitrust Institute’s Annual Conference on June 21, 2017 at the National Press Club in Washington, D.C.

Professor Elhauge’s winning article, “Horizontal Shareholding,” 129 Harv. L. Rev. 1267 (2016), catalogs new empirical evidence measuring the anticompetitive effects of institutional shareholders owning substantial stakes in horizontally competing firms and indicating that such horizontal shareholding is pervasive.  Elhauge argues that horizontal shareholding can help explain fundamental economic puzzles including executive compensation methods, reluctance of firms to invest, and the rise of income inequality. He also argues that current antitrust law can tackle this problem by challenging stock acquisitions that create anticompetitive horizontal shareholdings in concentrated markets.

Professor Elhauge will receive a $10,000 check and an inscribed original artwork created by Lori Milstein.

In addition, this year’s award selection committee has conferred six awards in the following categories:

  • Best Antitrust Labor Exemption Article:  Sanjukta M. Paul, "The Enduring Ambiguities of Antitrust Liability for Worker Collective Action," 47 Loy. U. Chi. L.J. 969 (2016)
  • Best Antitrust and Small Business Article:  Stacy Mitchell, "The View from the Shop - Antitrust and the Decline of America's Independent Businesses," 61 Antitrust Bulletin 498 (2016)
  • Best Antitrust and Buyer Power Article:  Clayton J. Masterman, "The Customer Is Not Always Right: Balancing Worker and Customer Welfare in Antitrust Law," 69 Vand. L. Rev. 1387 (2016)
  • Best Antitrust and Intellectual Property Article:  Thomas K. Cheng, "Antitrust Treatment of the No Challenge Clause," 5 N.Y.U. J. of Intell. Prop. & Ent. Law 437 (2016)
  • Best Antitrust and Rule of Reason Analysis Article:  C. Scott Hemphill, "Less Restrictive Alternatives in Antitrust Law," 116 Colum. L. Rev. 927 (2016)
  • Best Antitrust and Platform Markets Article:  Michal S. Gal and Daniel L. Rubinfeld, "The Hidden Costs of Free Goods: Implications for Antitrust Enforcement," 80 Antitrust L. J. 521 (2016)

This year’s award selection committee consisted of Warren S. Grimes, Professor of Law, Southwestern Law School; Roger Noll, Professor of Economics Emeritus, Stanford University; Robert H. Lande, Venable Professor of Law, University of Baltimore - School of Law; John B. Kirkwood, Professor of Law, Seattle University School of Law; Christopher Leslie, Chancellor’s Professor of Law, University of California, Irvine; Zachary D. Caplan, Associate at Berger & Montague, P.C., and Daniel A. Small, Partner at Cohen Milstein Sellers & Toll PLLC.

About the Award:

The Jerry S. Cohen Memorial Fund Writing Award was created through a trust established in honor of the late Jerry S. Cohen, an outstanding trial lawyer and antitrust scholar. It is administered by the law firm he founded, Cohen Milstein Sellers & Toll PLLC.

The award honors the best antitrust writing published during the prior year that is consistent with the values that animated Jerry S. Cohen’s professional life:  a genuine concern for economic justice, the dispersal of economic power, effective limitations upon economic power, and the vigorous enforcement of the antitrust laws.