The paper focuses on competition policy, which is at the center of ordoliberal thinking. Important characteristics are the emphasis on individual freedom, from which the goal of economic efficiency is merely derived; the strong role for the state in the preservation of the prerequisites of...

Ordoliberal doctrine and its recommendations on competition policy is an original German contribution to the development of economics and law. This theory has had an enormous impact on the development of German anti-trust legislation, and also contributed to the Treaties of Rome, including EU...

This paper evaluates the efficacy of a structural model of oligopoly used for merger review. Using premerger data, we estimate several demand systems and use a static Bertrand model to simulate the price effects of two mergers. Using pre- and postmerger data, we directly estimate the price...

This volume contains a selection of papers that were presented at the CRESSE Conferences held in Chania, Crete, from July 6th to 8th, 2012, and in Corfu from July 5th to 7th, 2013. The chapters address current policy issues in competition and regulation. The book contains contributions at the...

We estimate the deterrence effects of U.S. merger policy instruments with respect to the composition and frequency of future merger notifications. Data from the Annual Reports by the U.S. DOJ and FTC allow industry based measures over the 1986-1999 period of the conditional probabilities for...

The European Commission (EC) has long intended to play a leadership role in setting a pan-European competition policy; yet, both centralized and decentralized tendencies have been manifest in the European context for competition policy. It is not clear then whether these leadership intentions...

The paper is dedicated to the answer of the unresolved question since the turning 1989 whether the popular for their advantages joint ventures manifest in Bulgaria one of their most important disadvantages, namely the realization of the two main types of infringements of competition –...

We assess the impact of merger policy on entry and entrepreneurship. When faced with uncertainty about its prospects, and foreseeing that it may wish to leave the market should profitability prove poor, a rational entrant considers possible exit routes. Horizontal merger reduces competition...

I analyze a model of hold-up with asymmetric information at the contracting stage. The asymmetry of information concerns the value of trade with external parties. I show that contractual signaling and efficiency of investment can conflict if only quantity is contractible. This conflict generates...

We propose a framework to examine convergence in the jurisdictional patterns of the American FTC and the European Commission. Based on a sample of 595 merger cases scrutinized by either of these agencies in the 1995–2007 period, we estimate logit models of the probability of intervening in a...