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policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each …
Persistent link: https://www.econbiz.de/10005049968
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
In The Antitrust Paradox, Robert Bork viewed most mergers as either competitively neutral or efficiency enhancing. In his view, only mergers creating a dominant firm or monopoly were likely to harm consumers. Bork was especially skeptical of oligopoly concerns resulting from mergers. In this...
Persistent link: https://www.econbiz.de/10010950952
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
In this article, I explain the inadequacy of our current state of knowledge regarding the effectiveness of antitrust policy towards mergers. I then discuss the types of data that one must collect in order to be able to perform an analysis of the effectiveness of antitrust policy. There are two...
Persistent link: https://www.econbiz.de/10005774825
theory of auctions shows that it is unlikely that successful buyers as a group were injured. …
Persistent link: https://www.econbiz.de/10005034355
Standard policies to correct market power and selection can be misguided when these two forces co-exist. Using a … significant oversupply of credit, implying greater market power is desirable. We build a model of symmetric imperfect competition … in selection markets that parameterizes the degree of both market power and selection and use graphical price …
Persistent link: https://www.econbiz.de/10010890106
it is detected. We propose a theory of "equilibrium price cutting and business stealing" in cartels to bridge this gap … between theory and observation. …
Persistent link: https://www.econbiz.de/10010796588
into the standard, become standard-essential patents (SEPs). In an attempt to curb the monopoly power that they create …
Persistent link: https://www.econbiz.de/10010714166
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