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Do pay-as-bid auctions favor collusion? Evidence from Germany's market for reserve power
Heim, Sven; Götz, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
We analyze a drastic price increase in the German auction market for reserve power, which did not appear to be driven … back to an abuse of the auction's pay-as-bid mechanism by the two largest firms. In contrast to theoretical findings, we … show that pay-as-bid auctions do not necessarily reduce incentives for strategic capacity withholding and collusive …
Persistent link: https://www.econbiz.de/10010985633
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Registered cartels in Austria: Coding protocol
Fink, Nikolaus; Schmidt-Dengler, Philipp; Stahl, Konrad O. - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
In the period following WW II. until the country accessed the European Union, cartels were legalized in Austria, upon registration with the Austrian Cartel Court. We obtained access to the registration data, and scanned them all towards a microeconomic analysis of contracting behavior between...
Persistent link: https://www.econbiz.de/10011122564
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The discontent cartel member and cartel collapse: The case of the German cement cartel
Harrington, Joseph E.; Hüschelrath, Kai; Laitenberger, … - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
We hypothesize a particular source of cartel instability and explore its relevance to understanding cartel dynamics. The cartel instability is rooted in the observation that, upon cartel formation, the relative positions of firms are often fixed which may lead some growthconscious members to be...
Persistent link: https://www.econbiz.de/10010985711
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Industry structure and pricing over the business cycle
Spiegel, Yossi; Stahl, Konrad - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
average price in the market can be countercyclical if the entrant is a first mover, and capacity utilization can be either pro … firm can either amplify or dampen the effect of demand fluctuations on prices, price-cost margins, and capacity utilization. …
Persistent link: https://www.econbiz.de/10010957752
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Strategic pricing, market entry and competition: Evidence from German electricity submarkets
Nikogosian, Vigen; Veith, Tobias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
In German electricity submarkets for residential customers standard contracts offered by former monopolists are the more costly option for customers who have not switched to an alternative contract yet. As most German households are served with this contract type we follow the Limit Pricing...
Persistent link: https://www.econbiz.de/10009646596
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Estimating consumer damages in cartel cases
Laitenberger, Ulrich; Smuda, Florian - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
We use consumer panel data to calculate the damage suffered by German consumers due to a detergent cartel that was active between 2002 and 2005 in eight European countries. Applying before-and-after and difference-in-differences estimations we find average overcharges between 6.7 and 6.9 percent...
Persistent link: https://www.econbiz.de/10010957676
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Cartel overcharges and the deterrent effect of EU competition law
Smuda, Florian - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012
This paper examines cartel overcharges for the European market. Using a sample of 191 overcharge estimates and several parametric and semi-parametric estimation procedures, the impact of different cartel characteristics and the market environment on the magnitude of overcharges is analyzed. The...
Persistent link: https://www.econbiz.de/10010957719
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Ownership and control in a competitive industry
Karle, Heiko; Klein, Tobias J.; Stahl, Konrad O. - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
We study a differentiated product market in which an investor initially owns a controlling stake in one of two competing firms and may acquire a non-controlling or a controlling stake in a competitor, either directly using her own assets, or indirectly via the controlled firm. While industry...
Persistent link: https://www.econbiz.de/10009646598
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Reassessing competition concerns in electronic communications markets
Peitz, Martin; Valletti, Tommaso - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
Central features of today's electronic communications markets are complementarities between the different layers of the value chain, substitutability between some applications, network effects in the provision of content and services, two-sided business models that partly involve indirect...
Persistent link: https://www.econbiz.de/10011095350
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Market Power, Multimarket Contact and Pricing: Some Evidence from the US Automobile Market
Leheyda, Nina - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2008
firm behaviour, which could also facilitate collusion. In other words, it is difficult to argue whether coordination is due …
Persistent link: https://www.econbiz.de/10005098097