Biden FTC’s Antitrust Bark Proves Worse Than Its Bite

Sept. 6, 2023 8:00 am ETThe FTC recently agreed to end its challenge of Amgen’s deal to buy Horizon Therapeutics.

A weak party can get a much stronger opponent to back down, game theory explains, by signaling it is willing to take extreme actions and bear steep costs. But that sort of brinkmanship arguably works only if you don’t have to actually fight—and lose—repeatedly.Continue reading your article with

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