The Misunderstood Nash Solution For Reasonable Royalties
By Marianne Ley Hayek ( April 4, 2018, 12:07 PM EDT) -- In remarks describing the U. S. Department of Justice's newly formed "Jackson-Nash Address" series in February, Assistant Attorney General Machan Delrahim said that both Justice Robert Jackson and Nobel Prize-winning economist John Nash "have a lasting influence on modern legal and economic thinking. "[1] Citing Jackson's "visionary understanding of the consequences of applying economics to legal analysis," and Nash's "seminal innovations that have become essential tools for economists," Delrahim emphasized how innovative economic analysis is vital to effective antitrust enforcement. [2] In particular, bargaining theory — John Nash's seminal contribution to economics — has long been used in merger analysis to evaluate the potential of the merged firm to extract increased profits due to enhanced bargaining power. [3]. . .
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