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Antitrust
Kaplow, Louis; Shapiro, Carl - National Bureau of Economic Research (NBER) - 2007
This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition … central features of antitrust policy. Our objective is to foster the improvement of legal regimes and also to identify topics …
Persistent link: https://www.econbiz.de/10005049968
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A Model of Dynamic Limit Pricing with an Application to the Airline Industry
Gedge, Christopher; Roberts, James W.; Sweeting, Andrew - National Bureau of Economic Research (NBER) - 2014
The one-shot nature of most theoretical models of strategic investment, especially those based on asymmetric information, limits our ability to test whether they can fit the data. We develop a dynamic version of the classic Milgrom and Roberts (1982) model of limit pricing, where a monopolist...
Persistent link: https://www.econbiz.de/10010796729
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Did Robert Bork Understate the Competitive Impact of Mergers? Evidence from Consummated Mergers
Ashenfelter, Orley; Hosken, Daniel; Weinberg, Matthew C. - National Bureau of Economic Research (NBER) - 2014
In The Antitrust Paradox, Robert Bork viewed most mergers as either competitively neutral or efficiency enhancing. In … The Antitrust Paradox. Many of Bork's recommendations have been implemented over time and have improved merger analysis …
Persistent link: https://www.econbiz.de/10010950952
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Strategic Incompatibility in ATM Markets
Knittel, Christopher R.; Stango, Victor - National Bureau of Economic Research (NBER) - 2006
We test whether firms use incompatibility strategically, using data from ATM markets. High ATM fees degrade the value of competitors' deposit accounts, and can in principle serve as a mechanism for siphoning depositors away from competitors or for creating deposit account differentiation. Our...
Persistent link: https://www.econbiz.de/10005828868
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Why We Need to Measure the Effect of Merger Policy and How to Do It
Carlton, Dennis W. - National Bureau of Economic Research (NBER) - 2009
In this article, I explain the inadequacy of our current state of knowledge regarding the effectiveness of antitrust … the effectiveness of antitrust policy. There are two types of data one requires in order to perform such an analysis. One … with the first type that a reliable analysis of antitrust policy can be carried out. There is a need both to collect the …
Persistent link: https://www.econbiz.de/10005774825
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Anatomy of the Rise and Fall of a Price-Fixing Conspiracy: Auctions at Sotheby's and Christie's
Ashenfelter, Orley; Graddy, Kathryn - National Bureau of Economic Research (NBER) - 2004
on a number of key economic and antitrust policy issues related to the use of the auction system. The trial provided …
Persistent link: https://www.econbiz.de/10005034355
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Imperfect Competition in Selection Markets
Mahoney, Neale; Weyl, E. Glen - National Bureau of Economic Research (NBER) - 2014
Standard policies to correct market power and selection can be misguided when these two forces co-exist. Using a calibrated model of employer-sponsored health insurance, we show that the risk adjustment commonly used by employers to offset adverse selection often reduces the amount of...
Persistent link: https://www.econbiz.de/10010890106
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Price Cutting and Business Stealing in Imperfect Cartels
Bernheim, B. Douglas; Madsen, Erik - National Bureau of Economic Research (NBER) - 2014
Though economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through...
Persistent link: https://www.econbiz.de/10010796588
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Standard-Essential Patents
Lerner, Josh; Tirole, Jean - National Bureau of Economic Research (NBER) - 2013
A major policy issue in standard setting is that patents that are ex-ante not that important may, by being included into the standard, become standard-essential patents (SEPs). In an attempt to curb the monopoly power that they create, most standard-setting organizations require the owners of...
Persistent link: https://www.econbiz.de/10010714166
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Predation and Its Rate of Return: The Sugar Industry, 1887-1914
Genesove, David; Mullin, Wallace P. - National Bureau of Economic Research (NBER) - 1997
We study entry into the American sugar refining industry before World War I. We show that the price wars following two major entry episodes were predatory. Our proof is twofold: by direct comparison of price to marginal cost, and by construction of predicted competitive price cost margins that...
Persistent link: https://www.econbiz.de/10005829079