Oliver E. Williamson

And so that was all floating around.

And I taught at Penn one year when Ollie Williamson was away.

and read his article on the Pennington case, which was all about raising the wage rate as a barrier to entry.

And then one day, Dave Sheffman walked into my office and said, in the oil industry, maybe what they're doing is raising costs.

Yeah, I definitely think it's become mainstream.

I think regardless of who you talk to, everybody accepts now that raising rivals costs or closure is a key part of the analysis.

And it's funny you mentioned Williamson, because when I think of sort of the other way in which those two strands, sort of the Chicago strand and the information economics strand meet, I think his work on transaction cost economics is also in a way interpreting that about how vertical agreements can deal with incomplete information.

He did everything.