In February, the Antitrust Division officially launched the “Jackson-Nash Address” series, with Nobel Laureate Professor Alvin Roth of Stanford University delivering the inaugural address. The Jackson-Nash Address is named after former Supreme Court Justice Robert H. Jackson and Nobel Laureate Economist John Nash, in order to honor their contributions that have helped shape modern antitrust law and economics.
The inaugural address was held at the Great Hall of the Robert F. Kennedy Department of Justice Building and was well attended by Division attorneys, economists, alumni, and other distinguished guests from the antitrust community. Assistant Attorney General Makan Delrahim introduced the Address series, explaining that its goal is “to provoke discussion about how the latest developments in economics may shed light on antitrust issues we face every day, and how innovation in economic analysis can serve the ultimate goal of continuing to better protect consumer welfare.” He further noted that both Justice Jackson and Professor Nash were “far ahead of their time.”
Professor Roth delivered an exceptional inaugural Address, entitled “Marketplaces, Competition and Market Design.” He focused on two “matching” marketplaces—labor markets for new doctors and kidney exchanges—where stable equilibria emerge as a result of market incentives. Through Professor Roth’s innovative research, clearinghouses in each of these markets have improved the effectiveness of their matches, resulting in greater efficiency and a substantial enhancement of consumer welfare.
The Division will announce the next Jackson-Nash Address speaker in the coming months.