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...

We examine aspects of how new technology may be transferred to firms that use it in a final product market. Should technology transfer take place to a single firm or to more than one, and should it happen gradually or at once? How do the incompleteness of contracts and the nature of product...

In this chapter, we review some recent work on public intervention in economic environments where firms undertake investments in research or in physical assets, and then select appropriate business practices to extract profits from the outcomes of the investment process. Public policies may take...