In the Monday afternoon session of the A3 antitrust trial, the government’s antitrust economics expert Dr. Nicholas Hill began his testimony — which resumes Tuesday, after the court hears from HarperCollins ceo Brian Murray. He walked everyone through the Herfindahl-Hirschman index, the hypothetical monopsonist test, diversion ratios, second-score auction models, GUPPI analysis and more. The day’s “I am Spartacus moment” came towards, when the ever-direct Judge Pan said: “So not being a Ph.D. in economics, I don’t really understand the intricacies of these models. And I’m wondering if the dispute between the experts is more about the inputs as opposed […]
